Sport Events - Rwanda

Rwanda

Highlights

Revenue in the Sport Events market is projected to reach US$2.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.96%, resulting in a projected market volume of US$2.56m by 2028.
In the Sport Events market, the number of users is expected to amount to 156.6k users by 2028.
User penetration will be 1.0% in 2024 and is expected to hit 1.0% by 2028.
The average revenue per user (ARPU) is expected to amount to US$15.64.
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 Rwanda is experiencing significant growth and development in recent years.

Customer preferences: Customers in Rwanda are increasingly interested in participating in and attending sport events. There is a growing demand for both local and international sporting competitions, ranging from football and basketball to cycling and athletics. This is driven by a variety of factors, including the desire for entertainment and leisure activities, the promotion of a healthy lifestyle, and the sense of community and national pride that comes from supporting local athletes and teams.

Trends in the market: One of the key trends in the sport events market in Rwanda is the increase in the number and scale of international sporting competitions hosted in the country. Rwanda has successfully hosted major events such as the Tour du Rwanda, a prestigious cycling race, and the African Nations Championship, a football tournament for national teams. These events not only attract participants and spectators from around the world, but also generate significant media coverage and promote the country as a tourist destination. Another trend in the market is the growing popularity of amateur and grassroots sport events. Local communities and organizations are organizing more sports tournaments and competitions, providing opportunities for individuals of all ages and skill levels to participate. This trend is fueled by the government's efforts to promote sports development and encourage active lifestyles among the population.

Local special circumstances: Rwanda has a unique set of circumstances that contribute to the development of the sport events market. The country has made significant investments in sports infrastructure, including the construction of modern stadiums and sports facilities. This has created a conducive environment for hosting sporting events of various sizes and types. Additionally, the government of Rwanda has recognized the economic and social benefits of the sport events industry and has actively supported its growth. Through partnerships with international organizations and the implementation of policies and initiatives, Rwanda has positioned itself as a hub for sports tourism in the region. This has attracted both local and foreign investors, further stimulating the market.

Underlying macroeconomic factors: The growth of the sport events market in Rwanda is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This allows individuals to allocate more resources towards leisure activities, including attending and participating in sport events. Furthermore, the government's commitment to promoting sports and physical activity as part of its national development agenda has created a favorable environment for the sport events market. Investments in sports infrastructure, training programs, and talent development have not only improved the quality of sporting events in Rwanda, but also created opportunities for local athletes to compete at national and international levels. In conclusion, the sport events market in Rwanda is witnessing significant growth and development due to customer preferences for entertainment and healthy lifestyles, the increasing number of international events hosted in the country, the popularity of grassroots sport events, the government's support and investment in sports infrastructure, and the underlying macroeconomic factors such as economic growth and the promotion of sports as part of national development. This trend is expected to continue in the coming years, further establishing Rwanda as a vibrant and dynamic destination for sport events.

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.