Sport Events - Costa Rica

Costa Rica

Highlights

Revenue in the Sport Events market is projected to reach US$16.88m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.78%, resulting in a projected market volume of US$18.11m by 2028.
In the Sport Events market, the number of users is expected to amount to 285.3k users by 2028.
User penetration will be 5.3% in 2024 and is expected to hit 5.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$61.31.
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.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sport Events market in Costa Rica has been experiencing significant growth in recent years, driven by customer preferences for active and outdoor activities, as well as the country's unique natural landscapes and favorable climate. Customer preferences in Costa Rica have shifted towards more active and experiential forms of entertainment, with an increasing number of people seeking out opportunities to participate in or attend sport events. This trend is fueled by a growing interest in health and wellness, as well as a desire for unique and memorable experiences. Costa Ricans are increasingly looking for ways to stay active and engage in physical activities, and sport events provide an ideal platform for them to do so. In addition, the country's stunning natural landscapes, including its pristine beaches, lush rainforests, and majestic volcanoes, make it an attractive destination for outdoor sport events. Costa Rica offers a wide range of activities, such as surfing, hiking, mountain biking, and zip-lining, which can be incorporated into sport events to provide participants with a truly immersive and unforgettable experience. Furthermore, Costa Rica's favorable climate, with warm temperatures and abundant sunshine throughout the year, makes it an ideal location for outdoor sport events. This allows for year-round participation and ensures that participants and spectators can enjoy the events in comfortable conditions. The Sport Events market in Costa Rica is also influenced by local special circumstances. The country has a strong sporting culture, with a particular emphasis on football (soccer). Football matches, both at the amateur and professional level, attract large crowds and generate significant revenue for the local economy. Costa Ricans are passionate about football and take pride in their national team's achievements in international competitions. Costa Rica's tourism industry also plays a significant role in the development of the Sport Events market. The country attracts a large number of international tourists, many of whom are interested in participating in or attending sport events during their visit. This provides opportunities for event organizers to cater to both domestic and international audiences, further driving the growth of the market. Underlying macroeconomic factors, such as economic stability and government support, have also contributed to the development of the Sport Events market in Costa Rica. The country has experienced steady economic growth in recent years, which has increased disposable income and consumer spending. This has allowed individuals to allocate a greater portion of their budget towards leisure activities, including sport events. Additionally, the Costa Rican government has recognized the potential of the Sport Events market as a driver of tourism and economic growth. As a result, it has implemented policies and initiatives to support the development of the industry, such as providing financial incentives and infrastructure improvements. This has created a favorable business environment for event organizers and encouraged further investment in the sector. In conclusion, the Sport Events market in Costa Rica is experiencing growth due to customer preferences for active and outdoor activities, the country's unique natural landscapes and favorable climate, local special circumstances such as a strong sporting culture and a thriving tourism industry, and underlying macroeconomic factors including economic stability and government support. These factors have combined to create a thriving market for sport events in Costa Rica, providing opportunities for both domestic and international participants and spectators.

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.