Sport Events - Caribbean | Statista Market Forecast

Revenue in the Sport Events market is projected to reach US$27.28m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.29%, resulting in a projected market volume of US$29.87m by 2028.
In the Sport Events market, the number of users is expected to amount to 556.9k users by 2028.
User penetration will be 1.4% in 2024 and is expected to hit 1.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$49.98.
In global comparison, most revenue will be generated United States (US$16.43bn in 2024).
With a projected rate of 17.1%, the user penetration in the Sport Events market is highest Luxembourg.

Definition:

The Sports Events market consists of the sale of tickets for professional sporting events that are purchased via the Internet. Football, basketball, baseball and other ball sports, plus motorsports including Formula 1 and NASCAR, as well as golf, tennis, and similar sports, are included. The market covers the sale of digital tickets with QR codes and the purchase of paper tickets that are bought online and posted to an address or are available at a physical collection point. Users refer to the active ticket buyers, independent of the number of tickets purchased in one booking.

Additional Information

Data includes revenue figures in Gross Merchandise Value (GMV), Users, average revenue per user (ARPU), and user penetration rate. User and revenue figures represent B2C services.

Online sale of tickets for professional sporting events such as football, basketball, baseball, motorsports etc.
Digital tickets with QR codes
Online purchased tickets that are posted to an address or printed at home
Online purchased paper tickets that are available at a physical collection point

Offline and telephone bookings / reservations
Tickets for non-sports related events
Event-related services such as catering etc.

The Sport Events market in Caribbean is experiencing steady growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Caribbean region are driving the growth of the Sport Events market. The people in the Caribbean have a strong passion for sports, particularly cricket, soccer, and athletics. They enjoy watching and participating in these sports, and as a result, there is a high demand for sport events. Additionally, the Caribbean is known for its vibrant and energetic culture, and sport events provide an opportunity for people to come together and celebrate their shared love for sports. Trends in the market are also contributing to the development of the Sport Events market in the Caribbean. One notable trend is the increasing popularity of international sporting events in the region. The Caribbean has hosted several major sporting events in recent years, such as the ICC Cricket World Cup and the CONCACAF Gold Cup. These events attract a large number of tourists from around the world, boosting the local economy and creating opportunities for local businesses. Furthermore, there is a growing trend of hosting sport events in unique and picturesque locations in the Caribbean, such as beach soccer tournaments on the stunning white sand beaches. This trend not only attracts sports enthusiasts but also appeals to tourists looking for a unique and memorable experience. Local special circumstances in the Caribbean also contribute to the growth of the Sport Events market. The region is known for its favorable climate, with warm temperatures and abundant sunshine throughout the year. This makes it an ideal location for outdoor sport events, attracting athletes and spectators from around the world. Additionally, the Caribbean has a strong sporting infrastructure, with state-of-the-art stadiums and facilities that can accommodate large-scale events. This infrastructure, combined with the region's natural beauty and cultural heritage, creates a unique and attractive destination for sport events. Underlying macroeconomic factors also play a role in the development of the Sport Events market in the Caribbean. The region has seen steady economic growth in recent years, which has led to an increase in disposable income among the population. This has resulted in higher spending on leisure activities, including attending sport events. Furthermore, the Caribbean has a strong tourism industry, with millions of tourists visiting the region each year. Sport events serve as a major attraction for tourists, contributing to the growth of the local economy. In conclusion, the Sport Events market in the Caribbean is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The passion for sports, the popularity of international events, the favorable climate and infrastructure, and the region's economic growth and tourism industry all contribute to the growth of the market. As a result, the Caribbean continues to attract sport events and establish itself as a prominent destination for sports enthusiasts and tourists alike.

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.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

The coronavirus (COVID-19) pandemic that has swept across the globe in 2020 not only had a significant impact on public health, society, and the economy as a whole, it also wreaked havoc with the sporting calendar. In a bid to stem the spread of the virus, many professional and amateur leagues across all continents and sports took the unprecedented step to postpone or suspend their seasons on the advice of the CDC to avoid gatherings of large amounts of people.