Sport Events - Guatemala | Statista Market Forecast

Revenue in the Sport Events market is projected to reach US$10.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.89%, resulting in a projected market volume of US$11.42m by 2028.
In the Sport Events market, the number of users is expected to amount to 315.4k users by 2028.
User penetration will be 1.5% in 2024 and is expected to hit 1.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$34.95.
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 Guatemala has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Guatemala have shifted towards a more active and healthy lifestyle, with an increasing number of people participating in sports and fitness activities. This has led to a growing demand for sport events, as individuals seek opportunities to showcase their skills and compete against others. Additionally, there is a strong interest in international sports events, as Guatemalans enjoy watching and supporting their favorite athletes and teams. Trends in the market have also contributed to its development. The rise of social media and digital platforms has made it easier for sport event organizers to promote their events and reach a wider audience. This has resulted in increased attendance and participation, as people are more aware of the various sport events taking place in Guatemala. Furthermore, there has been a growing trend of incorporating entertainment elements into sport events, such as live music performances and interactive activities, to attract a larger crowd and enhance the overall experience. Local special circumstances have played a role in the growth of the Sport Events market in Guatemala. The country has a rich sporting culture, with a strong passion for soccer, basketball, and other popular sports. This has created a favorable environment for the development of sport events, as there is a ready market of sports enthusiasts who are willing to attend and support these events. Additionally, Guatemala has a favorable climate for outdoor sports, which allows for year-round sport events and attracts both local and international participants. Underlying macroeconomic factors have also contributed to the development of the Sport Events market in Guatemala. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has resulted in a higher demand for leisure activities, including sport events. Furthermore, the government has been actively promoting tourism in Guatemala, which has attracted more visitors to the country. This has created additional opportunities for sport event organizers to cater to both domestic and international audiences. Overall, the Sport Events market in Guatemala is developing due to customer preferences for an active lifestyle, market trends such as the use of digital platforms and the incorporation of entertainment elements, local special circumstances including a strong sporting culture and favorable climate, and underlying macroeconomic factors such as economic growth and government support for tourism. As these factors continue to drive the market, we can expect further growth and expansion in the Sport Events industry in Guatemala.

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.