Event Tickets - Guatemala

Guatemala

Highlights

Revenue in the Event Tickets market is projected to reach US$20.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.59%, resulting in a projected market volume of US$23.92m by 2028.
The Sport Events market has a projected market volume of US$10.19m 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$32.33 in 2024.
In the Event Tickets market, the number of users is expected to amount to 738.1k users by 2028.
User penetration in the Event Tickets market will be at 3.3% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Guatemala has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Guatemala have shifted towards experiential purchases, including attending live events and concerts. This trend can be attributed to a desire for unique and memorable experiences, as well as a growing middle class with increased disposable income. Guatemalans are increasingly seeking entertainment options beyond traditional forms of leisure, such as movies or shopping. Trends in the market indicate a growing demand for a wide range of events and entertainment options. Music concerts, sporting events, theater performances, and cultural festivals are all popular choices among Guatemalan consumers. This diversification of the market has led to an increase in the number of events being organized and the availability of tickets for sale. Local special circumstances in Guatemala, such as the country's rich cultural heritage and vibrant arts scene, have contributed to the growth of the Event Tickets market. Guatemala is known for its traditional music, dance, and craftsmanship, which attract both local and international audiences. Additionally, the country's natural beauty and historical sites make it an attractive destination for events and festivals. Underlying macroeconomic factors have also played a role in the development of the Event Tickets market in Guatemala. The country's economy has been growing steadily, leading to an increase in discretionary spending. Rising incomes and a growing middle class have resulted in higher demand for entertainment and leisure activities. Furthermore, the government has been actively promoting tourism and cultural events, which has further boosted the Event Tickets market. In conclusion, the Event Tickets market in Guatemala has experienced significant growth due to customer preferences for experiential purchases, a diversification of events and entertainment options, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected that the demand for event tickets will continue to grow, presenting new opportunities for businesses in the industry.

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.