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Sport Events - Oman

Oman

Revenue in the Sport Events market is projected to reach US$2.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.31%, resulting in a projected market volume of US$2.75m by 2028.
In the Sport Events market, the number of users is expected to amount to 100.1k users by 2028.
User penetration will be 1.7% in 2024 and is expected to hit 1.7% by 2028.
The average revenue per user (ARPU) is expected to amount to US$27.71.
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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Currency

Analyst Opinion

The Sport Events market in Oman is experiencing significant growth and development.

Customer preferences: Customers in Oman have shown a growing interest in attending and participating in sport events. They are increasingly seeking out opportunities to engage in physical activity and support their favorite sports teams. This trend is driven by a desire for entertainment, social interaction, and a healthy lifestyle. As a result, there has been an increase in the demand for sport events that cater to a wide range of interests and preferences, including football, cricket, tennis, and motorsports.

Trends in the market: One of the key trends in the sport events market in Oman is the rise of international sporting competitions. The country has successfully hosted major events such as the FIFA World Cup and the Asian Games, which have attracted a large number of spectators from around the world. This has not only boosted the tourism industry but also increased the visibility and popularity of sport events in the country. Additionally, there has been a growing trend of organizing local and regional sport events, which provide opportunities for local athletes to showcase their talent and compete at a professional level.

Local special circumstances: Oman's strategic location in the Middle East has made it a popular destination for international sport events. The country's modern infrastructure, state-of-the-art stadiums, and world-class facilities have played a crucial role in attracting major sporting competitions. Furthermore, the government of Oman has been actively promoting sports tourism as part of its efforts to diversify the economy and boost the tourism sector. This has resulted in increased investment in sports infrastructure and the development of sports academies and training centers.

Underlying macroeconomic factors: The development of the sport events market in Oman is also influenced by underlying macroeconomic factors. The country's strong economic growth and high disposable income levels have contributed to increased consumer spending on leisure activities, including sport events. Furthermore, the government's focus on promoting sports and physical activity as part of a healthy lifestyle has created a favorable environment for the growth of the sport events market. Additionally, the growing popularity of social media and digital platforms has made it easier for sport event organizers to reach and engage with their target audience, further fueling the market's growth. In conclusion, the sport events market in Oman is experiencing significant growth and development. Customer preferences for physical activity, entertainment, and social interaction are driving the demand for sport events. The rise of international competitions, local and regional events, and the government's efforts to promote sports tourism are key trends in the market. Oman's strategic location, modern infrastructure, and strong macroeconomic factors contribute to the market's growth and potential for further development.

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.