The Event Tickets market in Hungary has been experiencing steady growth in recent years, driven by customer preferences for live entertainment experiences and the increasing popularity of events such as concerts, sports matches, and cultural festivals.
Customer preferences: Hungarian customers have shown a strong preference for attending live events and experiencing the thrill of being part of a live audience. This preference can be attributed to the unique atmosphere and excitement that live events offer, as well as the opportunity to connect with like-minded individuals who share similar interests. Additionally, attending live events provides customers with a break from their daily routines and allows them to immerse themselves in a different world for a few hours.
Trends in the market: One major trend in the Event Tickets market in Hungary is the increasing demand for international artists and performers. Hungarian customers are becoming more open to exploring different genres of music and entertainment, leading to a rise in the number of international acts coming to the country. This trend has been fueled by the growing popularity of music festivals, which attract both local and international audiences. Another trend in the market is the shift towards online ticket sales. Customers in Hungary are increasingly using online platforms to purchase event tickets, as it offers convenience and a wider range of options. Online ticket sales also provide customers with the opportunity to compare prices and choose the best deals, which has led to increased competition among ticketing platforms.
Local special circumstances: Hungary has a rich cultural heritage and a vibrant arts scene, which contributes to the strong demand for event tickets. The country is known for its world-class music festivals, such as Sziget Festival and Balaton Sound, which attract visitors from around the world. Additionally, Hungary has a strong sports culture, with passionate fans supporting their favorite teams and attending matches regularly.
Underlying macroeconomic factors: The growing Event Tickets market in Hungary can be attributed to several underlying macroeconomic factors. The country's strong economic growth has resulted in increased disposable income and higher consumer spending. This has allowed customers to allocate a larger portion of their budget towards entertainment and leisure activities, including attending live events. Furthermore, the tourism industry in Hungary has been booming in recent years, with a significant increase in the number of international tourists visiting the country. These tourists often seek out unique cultural experiences, including attending local events and festivals, which has contributed to the growth of the Event Tickets market. In conclusion, the Event Tickets market in Hungary is experiencing steady growth due to customer preferences for live entertainment experiences, the increasing demand for international artists, the shift towards online ticket sales, and the country's rich cultural heritage and strong sports culture. These trends, combined with the underlying macroeconomic factors of strong economic growth and a booming tourism industry, are driving the development of 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.
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