Sport Events - Western Asia

Western Asia

Highlights

Revenue in the Sport Events market is projected to reach US$553.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.12%, resulting in a projected market volume of US$601.30m by 2028.
In the Sport Events market, the number of users is expected to amount to 8.0m users by 2028.
User penetration will be 3.5% in 2024 and is expected to hit 3.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$71.56.
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 Western Asia is experiencing significant growth and development in recent years.

Customer preferences: Customers in Western Asia have shown a strong interest in sport events, with a particular focus on football and cricket. These sports have a large following in the region, with fans supporting both local and international teams. The popularity of these sports has led to an increase in demand for sport events, including matches, tournaments, and championships. Additionally, customers in Western Asia are increasingly looking for unique and immersive experiences, which has led to the rise of niche sports events such as extreme sports competitions and adventure races.

Trends in the market: One of the key trends in the Sport Events market in Western Asia is the growing number of international tournaments and championships being hosted in the region. This trend can be attributed to several factors, including the region's strategic location, modern infrastructure, and the strong financial backing of local governments and private investors. Hosting international events not only boosts the local economy but also promotes Western Asia as a global sports destination and helps in attracting tourists from around the world. Another trend in the market is the increasing focus on sustainability and environmental responsibility. Customers in Western Asia are becoming more conscious of the environmental impact of sport events and are demanding greener and more sustainable practices. This trend has led to the adoption of eco-friendly measures such as the use of renewable energy sources, waste management systems, and the promotion of public transportation for event attendees.

Local special circumstances: One of the unique characteristics of the Sport Events market in Western Asia is the strong influence of cultural and religious traditions. This can impact the scheduling and organization of sport events, as certain dates and times may be considered sacred or restricted. Event organizers need to be mindful of these cultural sensitivities and plan their events accordingly. Additionally, the region's hot climate can also pose challenges for outdoor sport events, leading to the need for appropriate infrastructure and facilities to ensure the comfort and safety of participants and spectators.

Underlying macroeconomic factors: The development of the Sport Events market in Western Asia is also influenced by underlying macroeconomic factors. The region's strong economic growth, driven by industries such as oil and gas, has resulted in increased disposable income among the population. This has led to a higher willingness to spend on leisure activities, including sport events. Additionally, the growing tourism industry in Western Asia has also contributed to the expansion of the sport events market, as tourists are increasingly seeking unique and memorable experiences during their travels. In conclusion, the Sport Events market in Western Asia is experiencing significant growth and development, driven by customer preferences for popular sports such as football and cricket, the hosting of international tournaments, the focus on sustainability, and the influence of cultural and religious traditions. The region's strong economic growth and thriving tourism industry further contribute to the expansion of the market. As the market continues to evolve, it is important for event organizers to stay abreast of customer preferences and adapt to local special circumstances to ensure the success of their 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.