Event Tickets - Ivory Coast

Ivory Coast

Highlights

Revenue in the Event Tickets market is projected to reach US$27.15m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.42%, resulting in a projected market volume of US$33.54m by 2028.
The Music Events market has a projected market volume of US$13.27m 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$37.92 in 2024.
In the Event Tickets market, the number of users is expected to amount to 832.8k users by 2028.
User penetration in the Event Tickets market will be at 2.5% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Ivory Coast has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Ivory Coast are increasingly seeking out unique and memorable experiences, including attending live events such as concerts, sports games, and cultural performances. This shift in preferences is driven by a desire for entertainment and leisure activities, as well as a growing middle class with disposable income to spend on such experiences. Additionally, social media platforms have played a significant role in increasing awareness and interest in events, as users share their experiences and recommendations with their networks.

Trends in the market: One of the key trends in the Event Tickets market in Ivory Coast is the increasing popularity of international artists and performers. This trend is fueled by the country's growing reputation as a cultural hub in West Africa, attracting top talent from around the world. As a result, there has been a surge in demand for tickets to international concerts and performances, leading to higher ticket prices and increased revenue for event organizers. Another trend in the market is the rise of online ticketing platforms. These platforms provide customers with a convenient and efficient way to purchase tickets, eliminating the need to physically visit ticket outlets. Online ticketing platforms also offer a wider range of events and ticket options, allowing customers to easily compare prices and choose the best option for their preferences and budget. This shift towards online ticketing has also enabled event organizers to reach a larger audience and increase ticket sales.

Local special circumstances: Ivory Coast has a vibrant and diverse cultural scene, with a rich history of music, dance, and art. This cultural heritage has contributed to the popularity of events and performances in the country. Additionally, the government has been actively promoting the tourism sector, including the development of infrastructure and the organization of international events and festivals. These efforts have further boosted the demand for event tickets, as both domestic and international tourists seek to experience the vibrant cultural scene in Ivory Coast.

Underlying macroeconomic factors: The growth of the Event Tickets market in Ivory Coast can also be attributed to positive macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more people to afford event tickets and participate in the growing entertainment industry. Additionally, the government's focus on diversifying the economy and promoting the tourism sector has created a favorable environment for the development of the Event Tickets market. In conclusion, the Event Tickets market in Ivory Coast is experiencing significant growth due to changing customer preferences, the rise of online ticketing platforms, local special circumstances, and positive macroeconomic factors. As customers in Ivory Coast seek out unique and memorable experiences, the demand for event tickets is expected to continue to rise in the coming years.

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.