Sport Events - Colombia | Statista Market Forecast

Revenue in the Sport Events market is projected to reach US$112.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.62%, resulting in a projected market volume of US$129.10m by 2028.
In the Sport Events market, the number of users is expected to amount to 1.7m users by 2028.
User penetration will be 3.2% in 2024 and is expected to hit 3.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$67.66.
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 Colombia is experiencing significant growth and development, driven by various factors including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Sport Events market in Colombia are playing a crucial role in its development. The Colombian population has shown a strong interest in sports, with a particular focus on football (soccer). Football matches and tournaments attract large crowds and generate substantial revenue for the industry. Additionally, there is a growing interest in other sports such as cycling, athletics, and tennis, which further contribute to the expansion of the market. The preference for live sporting events and the desire to support local teams and athletes also drive the demand for sport events in Colombia. Trends in the market also contribute to the growth of the Sport Events industry in Colombia. One notable trend is the increasing popularity of international sporting events hosted in the country. Colombia has successfully hosted major events such as the FIFA U-20 World Cup and the Tour de France, attracting both local and international spectators. These events not only boost the tourism industry but also promote the country as a favorable destination for sports events. Furthermore, there is a rising trend of incorporating technology and innovation in sport events, such as live streaming, virtual reality experiences, and interactive fan engagement, which enhances the overall spectator experience and attracts a larger audience. Local special circumstances in Colombia also impact the development of the Sport Events market. The country's geographical location and diverse climate offer opportunities for a wide range of outdoor sporting events throughout the year. From beach volleyball tournaments on the Caribbean coast to mountain biking competitions in the Andes, Colombia provides a unique backdrop for various sports activities. Additionally, the government's support and investment in sports infrastructure, such as stadiums and training facilities, further contribute to the growth of the industry. Underlying macroeconomic factors also play a significant role in the development of the Sport Events market in Colombia. The country's improving economy and rising disposable income levels enable more people to participate in and attend sporting events. The growing middle class in Colombia has a higher propensity to spend on leisure activities, including sports events. Furthermore, the government's efforts to promote sports tourism and attract international sporting events have a positive impact on the industry, as they bring in foreign visitors and generate revenue for the local economy. In conclusion, the Sport Events market in Colombia is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The strong interest in sports, the popularity of international events, the country's geographical advantages, and the improving economy all contribute to the expansion of the industry. With continued support and investment, the Sport Events market in Colombia 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.

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.