Event Tickets - Luxembourg

Luxembourg

Highlights

Revenue in the Event Tickets market is projected to reach US$36.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.53%, resulting in a projected market volume of US$38.58m by 2028.
The Sport Events market has a projected market volume of US$17.00m 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$171.50 in 2024.
In the Event Tickets market, the number of users is expected to amount to 230.0k users by 2028.
User penetration in the Event Tickets market will be at 32.3% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Luxembourg has been experiencing steady growth in recent years.

Customer preferences: Luxembourg, being a small country with a high standard of living, has a population that is highly interested in cultural events and entertainment. The residents of Luxembourg have a strong inclination towards attending live performances, concerts, and sports events. They value experiences and are willing to spend on tickets to enjoy these events. Additionally, many tourists visit Luxembourg to explore its rich cultural heritage and attend various events, further contributing to the demand for event tickets.

Trends in the market: One of the key trends in the Event Tickets market in Luxembourg is the increasing popularity of online ticket sales. The convenience and ease of purchasing tickets online have attracted a significant number of customers. Online platforms provide a wide range of options, allowing customers to compare prices and choose the events that suit their preferences. This trend has not only made ticket purchasing more convenient but has also expanded the reach of event organizers, enabling them to attract a larger audience. Another trend in the market is the growing demand for niche events and experiences. While mainstream events such as concerts and sports matches continue to be popular, there is a rising interest in niche events such as art exhibitions, theater performances, and cultural festivals. This trend reflects the evolving preferences of customers who seek unique and exclusive experiences. Event organizers have recognized this trend and are catering to the demand by organizing a diverse range of events to attract different segments of the market.

Local special circumstances: Luxembourg's small size and close proximity to neighboring countries have a significant impact on its Event Tickets market. Many residents of Luxembourg are willing to travel to nearby countries, such as Belgium, France, and Germany, to attend major events. This cross-border mobility creates opportunities for event organizers to attract a broader audience by organizing events that appeal to both local residents and international visitors. Additionally, the multicultural nature of Luxembourg's population contributes to the demand for a diverse range of events, catering to different cultural backgrounds and preferences.

Underlying macroeconomic factors: The strong economy of Luxembourg plays a crucial role in the development of the Event Tickets market. The country's high per capita income and low unemployment rate provide individuals with the financial means to attend events and purchase tickets. Furthermore, the presence of multinational companies and a large expatriate community in Luxembourg contribute to the demand for event tickets, as these individuals often seek entertainment options to enrich their social lives. In conclusion, the Event Tickets market in Luxembourg is driven by customer preferences for cultural events and entertainment, the increasing popularity of online ticket sales, and the growing demand for niche events and experiences. The country's small size, cross-border mobility, and multicultural population further contribute to the development of the market. The strong economy and high standard of living in Luxembourg provide individuals with the financial means to attend events and purchase tickets, making it a favorable market for event organizers.

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.