Market Insights Digital eServices Event Tickets

Sport Events - GCC

Revenue in the Sport Events market is projected to reach US$422.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.58%, resulting in a projected market volume of US$467.90m by 2028.
In the Sport Events market, the number of users is expected to amount to 3.6m users by 2028.
User penetration will be 0.00 in 2024 and is expected to hit 0.00 by 2028.
The average revenue per user (ARPU) is expected to amount to US$119.60.
In global comparison, most revenue will be generated in the United States (US$16,430.00m in 2024).
With a projected rate of 0, the user penetration in the Sport Events market is highest 0.

Key regions: India, Brazil, Germany, South Korea, China

Market

Region

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Currency

Analyst Opinion

The Sport Events market in GCC is experiencing significant growth and development in recent years.

Customer preferences: Customers in the GCC region have shown a strong interest in participating and attending various sport events. The popularity of sports such as football, cricket, tennis, and motorsports has contributed to the increasing demand for sport events. Customers in the GCC region are passionate about sports and are willing to spend their time and money to support their favorite teams and athletes. They enjoy the excitement and entertainment that sport events provide, and often seek opportunities to engage in physical activities themselves.

Trends in the market: One of the key trends in the Sport Events market in the GCC region is the rise of international sporting competitions. The GCC countries have been actively hosting major sporting events such as the FIFA World Cup, Formula 1 races, and tennis tournaments. These events attract a large number of participants and spectators from around the world, boosting the local economy and promoting tourism. Additionally, the GCC region has been investing heavily in the development of state-of-the-art sports facilities and infrastructure, creating a conducive environment for hosting world-class sport events. Another trend in the market is the increasing focus on sports tourism. The GCC countries have been positioning themselves as attractive destinations for sports tourism, leveraging their favorable climate, luxurious accommodations, and world-class sports facilities. This has led to a growing number of international tourists visiting the region to participate in or watch sport events. The sport events market in the GCC region has become a significant contributor to the overall tourism industry, generating revenue and creating employment opportunities.

Local special circumstances: The GCC region is known for its affluent population, with high disposable incomes and a strong appetite for luxury experiences. This has created a favorable environment for the growth of the sport events market, as customers are willing to spend on tickets, merchandise, and hospitality packages. Additionally, the region's cultural diversity and cosmopolitan nature have contributed to the popularity of sport events, as people from different nationalities and backgrounds come together to support their favorite teams and athletes.

Underlying macroeconomic factors: The growth of the Sport Events market in the GCC region can be attributed to several macroeconomic factors. The region has experienced rapid economic development and diversification, with a focus on sectors such as tourism, entertainment, and sports. Governments in the GCC countries have been actively promoting the sport events market as part of their efforts to boost tourism and attract foreign investment. The favorable business environment, infrastructure development, and government support have created opportunities for both local and international stakeholders to invest in the sport events market in the GCC region. In conclusion, the Sport Events market in the GCC region is witnessing significant growth and development, driven by customer preferences for sports, the rise of international sporting competitions, the focus on sports tourism, local special circumstances, and underlying macroeconomic factors. The future outlook for the market looks promising, as the GCC countries continue to invest in sports infrastructure and leverage their unique advantages to attract more sport events and participants.

Methodology

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.