Sport Events - Nicaragua | Statista Market Forecast

Revenue in the Sport Events market is projected to reach US$716.10k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.69%, resulting in a projected market volume of US$735.90k by 2028.
In the Sport Events market, the number of users is expected to amount to 60.9k users by 2028.
User penetration will be 0.8% in 2024 and is expected to hit 0.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$12.30.
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 Nicaragua is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences play a crucial role in driving the growth of the Sport Events market in Nicaragua. Nicaraguans are increasingly interested in sports and active lifestyles, leading to a higher demand for sports events. The younger generation, in particular, is more inclined towards participating in and attending sporting events. This shift in preferences has created a fertile ground for the growth of the Sport Events market. Trends in the market also contribute to the development of the Sport Events market in Nicaragua. One notable trend is the increasing popularity of international sports events in the country. Nicaragua has successfully hosted several high-profile sporting events, attracting participants and spectators from around the world. This trend not only boosts the local economy but also enhances the country's reputation as a sports destination. Additionally, there is a growing interest in niche sports events, catering to specific sports enthusiasts and creating new opportunities for market growth. Local special circumstances further contribute to the development of the Sport Events market in Nicaragua. The country's favorable climate and geographical features make it an ideal location for outdoor sports events. The abundance of natural resources, such as beaches and mountains, provides ample opportunities for various sports activities. Furthermore, the government's support for sports development and infrastructure improvements has created a conducive environment for hosting sports events. These special circumstances attract both local and international organizers to choose Nicaragua as a venue for their events. Underlying macroeconomic factors also play a significant role in the growth of the Sport Events market in Nicaragua. The country's stable economic growth and increasing disposable income levels have allowed more people to participate in sports events. This has led to a higher demand for tickets, merchandise, and other related services, driving the overall market growth. Additionally, the government's investment in sports facilities and infrastructure has further facilitated the growth of the Sport Events market. In conclusion, the Sport Events market in Nicaragua is experiencing remarkable growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing interest in sports, the popularity of international events, favorable local conditions, and a stable economy all contribute to the positive trajectory of the market. With continued support and investment, the Sport Events market in Nicaragua is expected to thrive in the coming years.

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.