Key regions: India, Brazil, Germany, South Korea, China
The Sport Events market in Bhutan has been experiencing significant growth in recent years.
Customer preferences: Bhutanese consumers have shown a strong interest in sports events, with a particular focus on traditional Bhutanese sports such as archery and khuru. These sports hold a deep cultural significance in Bhutan and are often played during religious and social gatherings. Additionally, there is a growing interest in international sports events, such as football and cricket. Bhutanese fans are passionate about these sports and eagerly support local and international teams.
Trends in the market: One of the key trends in the Sport Events market in Bhutan is the increasing number of sports events being organized both at the national and international levels. This trend can be attributed to the growing popularity of sports among the Bhutanese population and the government's efforts to promote sports as a means of fostering social cohesion and national pride. As a result, there has been a rise in the number of local and international sports tournaments, attracting both local and foreign participants. Another trend in the market is the integration of technology in sports events. With the advancement of technology, sports events in Bhutan have become more interactive and engaging. Live streaming of matches, social media campaigns, and mobile applications have become common features of sports events, allowing fans to stay connected and participate in the excitement even if they are unable to attend in person.
Local special circumstances: Bhutan's unique geography and cultural heritage contribute to the development of the Sport Events market. The country's stunning landscapes provide a picturesque backdrop for outdoor sports events, attracting both participants and spectators. Additionally, Bhutan's commitment to preserving its cultural heritage has led to the promotion of traditional sports events, which further adds to the appeal of the market.
Underlying macroeconomic factors: The growing Sport Events market in Bhutan can also be attributed to the country's economic development. As Bhutan's economy continues to grow, disposable incomes are increasing, allowing more people to participate in sports events and support their favorite teams. Furthermore, the government's investment in infrastructure development, including the construction of stadiums and sports facilities, has created a conducive environment for hosting sports events. In conclusion, the Sport Events market in Bhutan is experiencing significant growth due to the strong customer preferences for both traditional Bhutanese sports and international sports. The increasing number of sports events, integration of technology, unique local circumstances, and underlying macroeconomic factors all contribute to the development of this market. As Bhutan continues to focus on promoting sports as a means of fostering national pride and social cohesion, the Sport Events market is expected to thrive 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.
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