Event Tickets - Ghana

Ghana

Highlights

Revenue in the Event Tickets market is projected to reach US$8.01m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -0.19%, resulting in a projected market volume of US$7.95m by 2028.
The Music Events market has a projected market volume of US$3.53m 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$13.30 in 2024.
In the Event Tickets market, the number of users is expected to amount to 682.4k users by 2028.
User penetration in the Event Tickets market will be at 1.8% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Ghana has been experiencing steady growth in recent years, driven by a combination of factors such as increasing disposable income, changing consumer preferences, and the growth of the entertainment industry in the country.

Customer preferences: Ghanaians have shown a growing interest in attending live events and entertainment activities, leading to an increased demand for event tickets. This can be attributed to a shift in consumer preferences towards experiences rather than material possessions. Ghanaians are increasingly valuing unique and memorable experiences, and attending live events allows them to create lasting memories.

Trends in the market: One of the key trends in the Event Tickets market in Ghana is the rise of music concerts and festivals. Ghana has a vibrant music scene, with local and international artists regularly performing in the country. This has led to a surge in the number of music concerts and festivals, attracting a large number of attendees. As a result, there has been a corresponding increase in the demand for event tickets. Another trend in the market is the growing popularity of sports events. Ghana has a strong passion for sports, particularly football. The country has a number of professional football leagues and regularly hosts international football matches and tournaments. This has led to a significant demand for event tickets for football matches and other sports events.

Local special circumstances: Ghana has a young and growing population, with a large proportion of the population under the age of 30. This demographic trend has contributed to the growth of the Event Tickets market, as young people are more likely to attend live events and entertainment activities. Additionally, the increasing urbanization in the country has made it easier for people to access and attend events, further driving the demand for event tickets.

Underlying macroeconomic factors: The growth of the Event Tickets market in Ghana can also be attributed to the country's overall economic development. Ghana has experienced steady economic growth in recent years, leading to an increase in disposable income levels. As people have more money to spend, they are more willing to invest in experiences such as attending live events. Furthermore, the growth of the entertainment industry in Ghana, including the music and sports sectors, has created more opportunities for live events, resulting in a higher demand for event tickets. In conclusion, the Event Tickets market in Ghana is experiencing growth due to changing customer preferences, the rise of music concerts and sports events, the young and growing population, and the country's overall economic development. These factors are driving an increased demand for event tickets and creating opportunities for further growth in the market.

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.