Event Tickets - Malta

Malta

Highlights

Revenue in the Event Tickets market is projected to reach US$4.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.53%, resulting in a projected market volume of US$4.57m by 2028.
The Music Events market has a projected market volume of US$1.81m 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$73.45 in 2024.
In the Event Tickets market, the number of users is expected to amount to 59.6k users by 2028.
User penetration in the Event Tickets market will be at 12.6% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Malta have shown a growing interest in attending various events, such as concerts, sports games, and cultural performances. This can be attributed to the increasing disposable income and the desire for unique experiences. In addition, the younger generation in Malta has a strong inclination towards attending live events, which has further fueled the demand for event tickets.

Trends in the market: One of the key trends in the Event Tickets market in Malta is the shift towards online ticket sales. With the widespread availability of high-speed internet and the convenience of online platforms, customers now prefer to purchase tickets online rather than through traditional channels. This trend has been further accelerated by the COVID-19 pandemic, which has led to the adoption of digital solutions and contactless transactions. Another trend in the market is the emergence of ticket resale platforms. These platforms allow customers to buy and sell tickets in the secondary market, providing more flexibility and options for both buyers and sellers. This trend has gained traction in Malta, as it allows customers to access sold-out events or secure tickets at a lower price.

Local special circumstances: Malta is a popular tourist destination, attracting a large number of visitors each year. This has contributed to the growth of the Event Tickets market, as tourists often seek out entertainment options during their stay. The demand for event tickets is particularly high during peak tourist seasons, such as summer and holiday periods. Furthermore, Malta has a vibrant arts and culture scene, with a wide range of events and festivals taking place throughout the year. This has created a strong demand for event tickets among both locals and tourists, as they seek to participate in these unique cultural experiences.

Underlying macroeconomic factors: The growth of the Event Tickets market in Malta can also be attributed to the overall economic development of the country. Malta has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has provided individuals with more financial resources to attend events and purchase event tickets. Additionally, the government of Malta has been actively promoting the country as a destination for international events and conferences. This has attracted a diverse range of events, including music festivals, sporting competitions, and business conferences. The influx of international events has further stimulated the demand for event tickets in Malta. In conclusion, the Event Tickets market in Malta is experiencing significant growth due to changing customer preferences, such as the shift towards online ticket sales and the emergence of ticket resale platforms. The local special circumstances, including the popularity of Malta as a tourist destination and its vibrant arts and culture scene, have also contributed to the growth of the market. Furthermore, underlying macroeconomic factors, such as economic development and government initiatives, have supported the expansion of the Event Tickets market in Malta.

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.