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Sport Events - Romania

Romania

Revenue in the Sport Events market is projected to reach US$35.88m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.32%, resulting in a projected market volume of US$39.32m by 2028.
In the Sport Events market, the number of users is expected to amount to 0.8m users by 2028.
User penetration will be 4.1% in 2024 and is expected to hit 4.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$46.34.
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 Romania is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Romanian customers have shown a strong interest in sports events, with a particular focus on football, tennis, and basketball. Football is the most popular sport in Romania, with a large fan base and passionate supporters. The country has a strong football tradition, and the local leagues attract a significant number of spectators. Tennis is also highly popular, especially during international tournaments such as the Bucharest Open. Basketball has gained popularity in recent years, with the national team's success in international competitions contributing to increased interest in the sport.

Trends in the market: One of the key trends in the sport events market in Romania is the increasing number of international events being hosted in the country. Romania has been successful in attracting major sporting events such as European Championships and World Cups in various sports. This trend has not only boosted the local economy but has also increased the visibility and reputation of Romania as a sports destination. Additionally, there is a growing trend of hosting sports events in smaller cities and towns, which allows for a more inclusive approach and provides opportunities for local communities to engage with sports. Another trend in the market is the increasing emphasis on sports tourism. Romania offers a diverse range of outdoor activities and sports facilities, making it an attractive destination for sports enthusiasts. The country's natural landscapes, such as the Carpathian Mountains and the Danube Delta, provide opportunities for activities like hiking, skiing, and water sports. This trend has led to the development of sports tourism infrastructure, including the construction of sports complexes, stadiums, and hotels.

Local special circumstances: Romania has a rich sports history and a culture that values physical activity and competition. The country has produced many successful athletes in various sports disciplines, which has contributed to the popularity of sports events. Additionally, the government has been supportive of the sports sector, providing funding and incentives for the development of sports infrastructure and the organization of events. This support has created a conducive environment for the growth of the sport events market.

Underlying macroeconomic factors: The growing sport events market in Romania is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has increased disposable income and consumer spending. This has allowed more people to participate in sports events as spectators or participants. Furthermore, Romania's integration into the European Union has facilitated the hosting of international events and the participation of Romanian athletes in European competitions. In conclusion, the Sport Events market in Romania is developing and expanding due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The strong interest in sports, the hosting of international events, the emphasis on sports tourism, the rich sports history, and the supportive government policies are all contributing to the growth of the market. With continued investment in sports infrastructure and promotion of sports events, Romania is likely to see further development in its sport events market.

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.