Sport Events - Republic of the Congo

Republic of the Congo

Highlights

Revenue in the Sport Events market is projected to reach US$871.30k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.09%, resulting in a projected market volume of US$1.15m by 2028.
In the Sport Events market, the number of users is expected to amount to 72.5k users by 2028.
User penetration will be 1.0% in 2024 and is expected to hit 1.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$13.80.
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.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sport Events market in Republic of the Congo is experiencing significant growth and development.

Customer preferences: Customers in the Republic of the Congo have shown a strong preference for sport events, which has contributed to the growth of the market. Sports such as football, basketball, and athletics have a large following in the country, with fans showing great enthusiasm and support for their favorite teams and athletes. The popularity of these sports has led to an increase in demand for sport events, both at the local and international level.

Trends in the market: One of the key trends in the Sport Events market in the Republic of the Congo is the increasing number of international sporting events being hosted in the country. The government has made significant investments in sports infrastructure, including stadiums and sports facilities, to attract major sporting events. This has not only boosted the local economy but has also raised the profile of the country in the international sporting community. As a result, more international sports organizations and teams are choosing the Republic of the Congo as a host for their events. Another trend in the market is the growing participation in sports among the local population. The government has been actively promoting sports and physical activity as part of a healthy lifestyle, leading to an increase in the number of people participating in sports events. This has created a larger customer base for sport event organizers, who are now able to cater to a wider range of sporting interests.

Local special circumstances: The Republic of the Congo is known for its passion for sports, particularly football. The national football team, known as the Red Devils, has a strong following, and matches involving the team attract large crowds. This has created a vibrant sports culture in the country, with fans eagerly supporting their teams and attending sport events. The local passion for sports has contributed to the success of the Sport Events market in the Republic of the Congo.

Underlying macroeconomic factors: The growth of the Sport Events market in the Republic of the Congo can also be attributed to the country's improving economic conditions. The government has implemented policies to attract foreign investment and promote economic development, which has resulted in increased disposable income among the population. As a result, people are willing to spend more on leisure activities, including attending sport events. The growing middle class in the country has also contributed to the demand for sport events, as they have more disposable income to spend on entertainment. In conclusion, the Sport Events market in the Republic of the Congo is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The government's investment in sports infrastructure and the increasing participation in sports among the local population have contributed to the growth of the market. Additionally, the country's passion for sports, particularly football, has created a vibrant sports culture. The improving economic conditions and increasing disposable income among the population have also played a significant role in driving 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.