Event Tickets - Georgia

Georgia

Highlights

Revenue in the Event Tickets market is projected to reach US$1.95m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -0.23%, resulting in a projected market volume of US$1.93m by 2028.
The Sport Events market has a projected market volume of US$892.20k in 2024.
In global comparison, most revenue will be generated United States (US$36.26bn in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$15.64 in 2024.
In the Event Tickets market, the number of users is expected to amount to 128.9k users by 2028.
User penetration in the Event Tickets market will be at 3.2% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Georgia has been experiencing significant growth in recent years.

Customer preferences: Customers in Georgia have shown a strong preference for attending live events and performances. Whether it be concerts, sports games, or theater productions, there is a growing demand for tickets to these events. This can be attributed to the desire for unique experiences and the opportunity to be part of a live audience. Additionally, customers in Georgia value convenience and ease of purchasing tickets, with many opting to buy them online.

Trends in the market: One of the key trends in the Event Tickets market in Georgia is the increasing popularity of international artists and performers. Georgia has become a sought-after destination for musicians and entertainers from around the world, leading to a rise in the number of international events being held in the country. This trend has resulted in a surge in ticket sales, as fans eagerly purchase tickets to see their favorite artists perform live. Another trend in the market is the emergence of online ticketing platforms. These platforms provide customers with a convenient way to browse and purchase tickets to various events. With the increasing penetration of smartphones and internet access in Georgia, online ticketing has become a preferred method for many customers. This trend has also allowed event organizers to reach a wider audience and sell tickets more efficiently.

Local special circumstances: One of the unique aspects of the Event Tickets market in Georgia is the country's rich cultural heritage. Georgia has a long history of traditional music, dance, and theater, which has contributed to a vibrant arts and entertainment scene. This cultural richness has attracted both local and international artists, further fueling the demand for event tickets. Additionally, Georgia's strategic location between Europe and Asia has made it a popular destination for touring artists, leading to an increase in the number of events being held in the country.

Underlying macroeconomic factors: The growth of the Event Tickets market in Georgia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. As a result, more people are willing to spend on leisure activities, including attending live events. Furthermore, the government of Georgia has been actively promoting the country as a tourist destination, attracting a growing number of international visitors. This influx of tourists has contributed to the demand for event tickets, as they seek to experience the local culture and entertainment scene. In conclusion, the Event Tickets market in Georgia is witnessing significant growth due to customer preferences for live events, the popularity of international artists, the emergence of online ticketing platforms, the country's rich cultural heritage, and favorable macroeconomic factors. These trends and circumstances have created a thriving market for event tickets, with increasing opportunities for both event organizers and 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.