Event Tickets - Hong Kong

Hong Kong

Highlights

Revenue in the Event Tickets market is projected to reach US$295.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.35%, resulting in a projected market volume of US$324.10m by 2028.
The Music Events market has a projected market volume of US$121.70m 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$110.90 in 2024.
In the Event Tickets market, the number of users is expected to amount to 2.7m users by 2028.
User penetration in the Event Tickets market will be at 34.6% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Hong Kong is experiencing significant growth and development.

Customer preferences: Customers in Hong Kong have shown a strong preference for attending live events and performances. They enjoy the excitement and entertainment that these events offer, and are willing to spend money on tickets to experience them. Additionally, customers in Hong Kong appreciate the convenience of online ticket purchasing, as it allows them to easily browse and select tickets for their desired events.

Trends in the market: One trend in the Event Tickets market in Hong Kong is the increasing popularity of international music concerts and festivals. Hong Kong has become a sought-after destination for renowned artists and musicians, attracting a large number of international music events. This trend is driven by the growing demand for live music experiences among the local population, as well as the desire to attract tourists to the city. Another trend in the market is the rise of sports events and competitions. Hong Kong has seen a surge in the number of sports events, such as football matches, basketball games, and marathons. This trend is fueled by the increasing interest and participation in sports among the local population, as well as the government's efforts to promote a healthy and active lifestyle.

Local special circumstances: One special circumstance in the Event Tickets market in Hong Kong is the limited availability of venues for large-scale events. Due to the scarcity of land in the city, there are only a few venues that can accommodate large crowds. This creates a high demand for tickets to events held in these venues, leading to increased prices and competition among customers.

Underlying macroeconomic factors: The growth and development of the Event Tickets market in Hong Kong can be attributed to several underlying macroeconomic factors. Firstly, Hong Kong has a strong economy with a high disposable income among its population. This allows individuals to allocate a portion of their income towards entertainment and leisure activities, including attending live events. Secondly, Hong Kong is a major international business and tourism hub, attracting a large number of visitors from around the world. These visitors contribute to the demand for event tickets, as they seek to experience the local culture and entertainment scene during their stay in the city. Lastly, advancements in technology and the widespread use of the internet have made it easier for customers to purchase event tickets online. This convenience factor has contributed to the growth of the Event Tickets market in Hong Kong, as customers can easily browse and purchase tickets from the comfort of their own homes. In conclusion, the Event Tickets market in Hong Kong is thriving due to customer preferences for live events, the popularity of international music concerts and sports events, limited venue availability, and underlying macroeconomic factors such as a strong economy and advancements in technology.

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.