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Sport Events - Kyrgyzstan

Kyrgyzstan

Revenue in the Sport Events market is projected to reach US$2.85m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -0.26%, resulting in a projected market volume of US$2.82m by 2028.
In the Sport Events market, the number of users is expected to amount to 136.9k users by 2028.
User penetration will be 1.9% in 2024 and is expected to hit 1.9% by 2028.
The average revenue per user (ARPU) is expected to amount to US$21.93.
In global comparison, most revenue will be generated in the United States (US$16,430.00m in 2024).
With a projected rate of 17.1%, the user penetration in the Sport Events market is highest in Luxembourg.

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

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Analyst Opinion

The Sport Events market in Kyrgyzstan is experiencing significant growth and development due to a variety of factors.

Customer preferences: Customers in Kyrgyzstan have shown a growing interest in sports events, with a particular focus on international competitions. They are attracted to the excitement and competitiveness of these events, as well as the opportunity to support their favorite athletes and teams. Additionally, customers in Kyrgyzstan value the social and community aspects of sports events, as they provide a platform for people to come together and celebrate their shared passion for sports.

Trends in the market: One of the key trends in the Sport Events market in Kyrgyzstan is the increasing number of international sports events being hosted in the country. This trend can be attributed to the efforts of the government and local sports organizations to attract major sporting competitions to Kyrgyzstan. The hosting of international events not only boosts the country's reputation on the global stage but also stimulates the local economy through increased tourism and spending. Another trend in the market is the growing popularity of non-traditional sports events. While traditional sports like football and basketball continue to be popular, there is a rising interest in alternative sports such as rock climbing, parkour, and extreme sports. This trend reflects the changing preferences of customers and their desire for unique and thrilling experiences.

Local special circumstances: Kyrgyzstan's unique geographical location and natural landscapes contribute to the development of the Sport Events market. The country offers a wide range of outdoor activities, including hiking, skiing, and horseback riding, which attract both local and international participants. These natural resources provide a competitive advantage for Kyrgyzstan in hosting outdoor sports events and attracting adventure-seeking customers.

Underlying macroeconomic factors: The growing Sport Events market in Kyrgyzstan can also be attributed to the country's improving economy and rising disposable income. As the economy grows, people have more money to spend on leisure activities, including attending sports events. This increase in disposable income enables customers to afford tickets, merchandise, and other related expenses associated with sports events. Furthermore, the government's investment in sports infrastructure and facilities has also contributed to the growth of the market. The development of modern stadiums, arenas, and training centers has not only improved the overall experience for spectators and athletes but has also attracted more sports events to the country. In conclusion, the Sport Events market in Kyrgyzstan is experiencing significant growth and development due to customer preferences for international competitions, the hosting of major events, the popularity of non-traditional sports, the country's unique geographical advantages, and the improving economy. These factors combined create a favorable environment for the continued expansion of the Sport Events market in Kyrgyzstan.

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.