The Event Tickets market in GCC has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Customers in the GCC region have shown a growing interest in attending live events and experiences, leading to an increased demand for event tickets. This can be attributed to several factors, including the rising disposable income levels and the desire for unique and memorable experiences. Additionally, the younger population in the region has a strong inclination towards attending concerts, sports events, and cultural festivals, further driving the demand for event tickets.
Trends in the market: One of the key trends in the Event Tickets market in the GCC is the growing popularity of international events. The region has become a hub for global artists, musicians, and performers, attracting a large number of international tourists and residents. As a result, there has been a surge in the demand for tickets to international concerts, festivals, and sporting events. This trend is expected to continue as the region continues to invest in world-class venues and infrastructure. Another trend in the market is the increasing adoption of digital platforms for ticket purchases. Customers in the GCC are increasingly using online platforms and mobile apps to browse, compare, and purchase event tickets. This shift towards digitalization has made it easier for customers to access a wide range of events and secure their tickets conveniently. Furthermore, digital platforms provide customers with the option to choose their preferred seats, view event details, and receive instant confirmation, enhancing the overall customer experience.
Local special circumstances: The GCC region is known for its vibrant cultural scene and diverse population. This has led to a wide variety of events and performances catering to different tastes and preferences. From traditional music and dance shows to international sporting events, the region offers something for everyone. Moreover, the region's strategic location has made it a popular destination for international artists and performers, further adding to the diversity of events and attracting a global audience.
Underlying macroeconomic factors: The strong economic growth in the GCC region has played a significant role in the development of the Event Tickets market. The region's robust economy, fueled by industries such as oil and gas, construction, and tourism, has resulted in increased consumer spending power. This, in turn, has contributed to the growing demand for event tickets and the willingness of customers to spend on live experiences. Furthermore, the government's focus on diversifying the economy and promoting the tourism sector has led to the development of world-class venues and infrastructure. This has attracted international events and performers to the region, creating new opportunities for the Event Tickets market. In conclusion, the Event Tickets market in the GCC is witnessing growth due to changing customer preferences, the popularity of international events, the adoption of digital platforms, the region's vibrant cultural scene, and the strong macroeconomic factors. As the market continues to evolve, it is expected to offer even more diverse and exciting events, catering to the preferences of a wide range of customers.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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