Key regions: India, Brazil, Germany, South Korea, China
The Sport Events market in Latvia has been experiencing significant growth in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Latvia have shifted towards a more active and healthy lifestyle, leading to an increased demand for sport events. People are becoming more conscious of their physical well-being and are actively seeking opportunities to participate in sports and outdoor activities. This change in customer preferences has created a strong demand for sport events, including marathons, cycling races, and team sports competitions. Trends in the market have also contributed to the growth of the Sport Events market in Latvia. The rise of social media and online platforms has made it easier for event organizers to promote and market their events, reaching a larger audience. This has resulted in increased participation and attendance at sport events. Additionally, the growing popularity of sports tourism has attracted international participants and spectators to sport events in Latvia, further boosting the market. Local special circumstances have played a role in the development of the Sport Events market in Latvia. The country has a rich sporting heritage and a strong tradition of hosting international sport events. This has created a favorable environment for the growth of the market, as event organizers and participants are attracted to the well-established infrastructure and expertise in hosting sport events. Furthermore, the Latvian government has recognized the economic benefits of sport events and has been supportive in providing funding and resources to promote and develop the market. Underlying macroeconomic factors have also contributed to the growth of the Sport Events market in Latvia. The country's economy has been growing steadily, resulting in increased disposable income and consumer spending. This has allowed people to allocate more of their budget towards leisure activities, including sport events. Additionally, the government's focus on promoting tourism has led to an increase in international visitors, who often participate in or attend sport events during their stay. In conclusion, the Sport Events market in Latvia has been growing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for sport events has increased as people prioritize a healthy lifestyle, and the market has benefited from advancements in technology and the popularity of sports tourism. The country's sporting heritage, government support, and favorable economic conditions have also contributed to the growth of the market.
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.
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