Event Tickets - Sri Lanka

Sri Lanka

Highlights

Revenue in the Event Tickets market is projected to reach US$23.71m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.17%, resulting in a projected market volume of US$25.83m by 2028.
The Sport Events market has a projected market volume of US$10.75m in 2024.
In global comparison, most revenue will be generated United States (US$36.26bn in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to US$25.61 in 2024.
In the Event Tickets market, the number of users is expected to amount to 1.0m users by 2028.
User penetration in the Event Tickets market will be at 4.3% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Event Tickets market in Sri Lanka has been experiencing significant growth in recent years. Customer preferences have shifted towards attending live events and experiences, leading to an increased demand for event tickets. This trend can be attributed to several factors, including a growing middle class, increased disposable income, and a desire for unique entertainment options.

Customer preferences: Sri Lankan consumers are increasingly seeking out live events and experiences as a form of entertainment. This shift in preferences can be attributed to a desire for unique and memorable experiences, as well as a growing middle class with higher disposable incomes. Attending live events allows consumers to immerse themselves in the atmosphere and energy of the event, creating lasting memories.

Trends in the market: One of the key trends in the Event Tickets market in Sri Lanka is the increasing popularity of international artists and performers. Sri Lankan consumers are willing to pay a premium for the opportunity to see their favorite international acts live. This trend has led to a rise in the number of international concerts and music festivals being held in the country. Another trend in the market is the growing popularity of sporting events. Sri Lanka has a strong cricket culture, and cricket matches featuring the national team or international teams draw large crowds. Additionally, other sports such as rugby and football are gaining popularity, leading to an increased demand for tickets to sporting events.

Local special circumstances: Sri Lanka is a country with a rich cultural heritage, and this is reflected in the types of events that are popular among consumers. Traditional dance and music performances, as well as religious festivals, attract a significant number of attendees. These events often have a strong sense of community and cultural significance, making them highly sought after by locals and tourists alike.

Underlying macroeconomic factors: The growth of the Event Tickets market in Sri Lanka can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, leading to an increase in disposable income. This has allowed consumers to allocate more of their budget towards entertainment and leisure activities, including attending live events. Additionally, the tourism industry in Sri Lanka has been growing rapidly. The country has become an increasingly popular tourist destination, attracting visitors from around the world. These tourists often seek out unique cultural experiences, including attending traditional performances and festivals. The demand from both domestic and international tourists has contributed to the growth of the Event Tickets market. In conclusion, the Event Tickets market in Sri Lanka is experiencing significant growth due to changing customer preferences, including a desire for unique experiences and a growing middle class with higher disposable incomes. The market is also influenced by local special circumstances, such as the popularity of traditional performances and religious festivals. Underlying macroeconomic factors, such as steady economic growth and a thriving tourism industry, are 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.