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Sport Events - Togo

Togo

Revenue in the Sport Events market is projected to reach US$0.84m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.99%, resulting in a projected market volume of US$1.06m by 2028.
In the Sport Events market, the number of users is expected to amount to 77.0k 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$12.20.
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 Togo is experiencing significant growth and development in recent years.

Customer preferences: In Togo, there is a growing interest in sports events, with a particular focus on football. Football is the most popular sport in the country, and local residents are passionate about supporting their favorite teams and players. The demand for live sports events, including football matches, has been steadily increasing as more people seek entertainment and recreational activities. Additionally, there is a growing interest in other sports such as basketball and athletics, which further contributes to the demand for sport events in Togo.

Trends in the market: One of the key trends in the sport events market in Togo is the increasing number of international tournaments and competitions hosted in the country. Togo has been actively participating in regional and international sporting events, which has not only enhanced the country's sporting reputation but also attracted a larger audience. These international events have also led to the development of sports infrastructure and facilities in Togo, creating opportunities for local athletes and sports enthusiasts. Another trend in the market is the rise of sports tourism in Togo. The country's natural beauty and diverse landscapes, including its coastline and mountains, make it an attractive destination for sports enthusiasts. Togo has been actively promoting sports tourism by organizing various sporting events that showcase the country's natural assets. This has resulted in an influx of tourists who are interested in participating in or watching sports events while experiencing the local culture and scenery.

Local special circumstances: Despite the growing interest in sports events, Togo faces some challenges in fully capitalizing on the market's potential. Limited funding and resources for sports development have hindered the growth of the industry. The lack of modern sports facilities and infrastructure has also been a barrier to hosting larger-scale events. However, the government and private sector are increasingly recognizing the economic and social benefits of investing in sports, which has led to initiatives aimed at improving sports infrastructure and supporting local athletes.

Underlying macroeconomic factors: The development of the sport events market in Togo is influenced by several macroeconomic factors. The country's GDP growth and increasing disposable income have contributed to higher consumer spending on leisure activities, including sports events. Additionally, the government's commitment to promoting sports and tourism as key sectors for economic development has created an enabling environment for the growth of the sport events market. Furthermore, Togo's strategic location within West Africa has made it an attractive destination for regional and international sporting events, further driving the market's growth. In conclusion, the sport events market in Togo is experiencing growth and development due to increasing customer preferences for live sports events, the rise of international tournaments and sports tourism, as well as the government's commitment to sports development. Despite some challenges, the market's potential is being realized through investments in sports infrastructure and facilities. With the continued support of stakeholders and favorable macroeconomic conditions, the sport events market in Togo is expected to further expand in the coming years.

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.