Event Tickets - Papua New Guinea

Papua New Guinea

Highlights

Revenue in the Event Tickets market is projected to reach US$2.88m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.10%, resulting in a projected market volume of US$3.38m by 2028.
The Music Events market has a projected market volume of US$1.60m 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$14.18 in 2024.
In the Event Tickets market, the number of users is expected to amount to 233.6k users by 2028.
User penetration in the Event Tickets market will be at 2.1% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Papua New Guinea is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences play a crucial role in the development of the Event Tickets market in Papua New Guinea. There is a growing demand for live entertainment and cultural events among the population. People are increasingly seeking unique experiences and opportunities to engage with the arts, music, and sports. This has led to a surge in ticket sales for various events, including concerts, festivals, theater performances, and sporting events. Customers are willing to spend their disposable income on these experiences, which has further fueled the growth of the market. Trends in the market also contribute to the development of the Event Tickets market in Papua New Guinea. The rise of digital platforms and online ticketing services has made it easier for customers to purchase tickets. This convenience factor has significantly increased ticket sales, as customers can now browse and purchase tickets from the comfort of their own homes. Additionally, event organizers are leveraging social media and digital marketing strategies to promote their events and reach a wider audience. This has resulted in increased awareness and interest in various events, further driving ticket sales. Local special circumstances in Papua New Guinea also contribute to the development of the Event Tickets market. The country is known for its rich cultural heritage and diverse population. This has led to a vibrant arts and entertainment scene, with numerous local and international events taking place throughout the year. The government and local authorities are also actively supporting the growth of the entertainment industry by investing in infrastructure and providing incentives for event organizers. This favorable environment has attracted both local and international artists, leading to a wide range of events and increased ticket sales. Underlying macroeconomic factors also play a role in the development of the Event Tickets market in Papua New Guinea. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. As a result, people have more money to spend on entertainment and leisure activities, including purchasing event tickets. Additionally, the tourism industry in Papua New Guinea is growing, with more visitors coming to the country to experience its natural beauty and cultural offerings. These tourists also contribute to the demand for event tickets, further boosting the market. In summary, the Event Tickets market in Papua New Guinea is developing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The growing demand for live entertainment, the rise of digital platforms, the vibrant arts and entertainment scene, and the country's economic growth and tourism industry are all contributing to the positive trajectory 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.