Event Tickets - Kuwait

Kuwait

Highlights

Revenue in the Event Tickets market is projected to reach US$123.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.55%, resulting in a projected market volume of US$141.80m by 2028.
The Music Events market has a projected market volume of US$56.11m 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$116.70 in 2024.
In the Event Tickets market, the number of users is expected to amount to 1.2m users by 2028.
User penetration in the Event Tickets market will be at 23.6% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Kuwait has been experiencing steady 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 Kuwait have played a significant role in driving the growth of the Event Tickets market. Kuwaitis have shown a growing interest in attending live events, such as concerts, sports matches, and cultural festivals. This preference for live experiences has led to an increased demand for event tickets. Additionally, Kuwaitis have also shown a preference for convenience and ease of purchase when it comes to buying event tickets. Online ticketing platforms have become increasingly popular, allowing customers to easily browse and purchase tickets from the comfort of their own homes. Trends in the market have also contributed to the growth of the Event Tickets market in Kuwait. One notable trend is the increasing number of international events and performances being held in the country. Kuwait has become a popular destination for international artists, musicians, and performers, leading to a greater variety of events for customers to choose from. This trend has not only attracted local customers but has also drawn in tourists who are interested in experiencing these international events. Local special circumstances have also played a role in the development of the Event Tickets market in Kuwait. The country's small size and high population density make it easier for event organizers to reach a large audience. This has led to a higher number of events being organized and a greater demand for event tickets. Additionally, Kuwait's strong economy and high disposable income levels have allowed customers to spend more on leisure activities, including attending live events. Underlying macroeconomic factors have also contributed to the growth of the Event Tickets market in Kuwait. The country's stable political environment and favorable business climate have attracted international event organizers, leading to an increase in the number of events being held in Kuwait. Furthermore, the government's focus on promoting tourism and diversifying the economy has also played a role in driving the growth of the Event Tickets market. Efforts to attract international tourists and promote Kuwait as a cultural hub have resulted in a greater demand for event tickets. In conclusion, the Event Tickets market in Kuwait has experienced steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing interest in live events, the availability of online ticketing platforms, the rise in international events, Kuwait's small size and high population density, the country's strong economy and high disposable income levels, and the government's focus on promoting tourism and diversifying the economy have all contributed to 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.