The Event Tickets market in Taiwan has been experiencing steady growth in recent years, driven by the increasing popularity of live events and the growing disposable income of consumers.
Customer preferences: In Taiwan, there is a strong demand for event tickets across various categories such as concerts, sports events, theater performances, and festivals. Taiwanese consumers are known for their enthusiasm and passion for live entertainment, and they are willing to spend on tickets to attend their favorite events. They value the experience and the opportunity to be part of a live audience, which creates a sense of excitement and connection with their favorite artists or teams.
Trends in the market: One of the key trends in the Event Tickets market in Taiwan is the growing popularity of international artists and performers. Taiwanese consumers are increasingly interested in attending concerts and shows by international acts, which has led to a rise in the number of international events being held in the country. This trend is driven by the globalization of music and entertainment, as well as the increasing accessibility of international artists through social media and streaming platforms. Another trend in the market is the rise of online ticketing platforms. Taiwanese consumers are increasingly purchasing event tickets online, as it offers convenience and a wider range of options. Online ticketing platforms provide a seamless and user-friendly experience, allowing consumers to browse and compare different events, select their preferred seats, and make secure payments. This trend is also supported by the growing penetration of smartphones and internet connectivity in Taiwan.
Local special circumstances: Taiwan has a vibrant and diverse cultural scene, with a wide range of events and performances taking place throughout the year. The government and private organizations actively promote the arts and culture sector, organizing festivals and events to showcase local talent and attract both domestic and international audiences. This creates a favorable environment for the Event Tickets market to thrive, as there is a constant demand for tickets to these cultural events.
Underlying macroeconomic factors: The growth of the Event Tickets market in Taiwan is also influenced by the country's overall economic performance. Taiwan has a strong and stable economy, with a high GDP per capita and a low unemployment rate. This means that consumers have more disposable income to spend on leisure activities, including attending live events. Additionally, the government's efforts to promote tourism and attract international visitors to Taiwan also contribute to the growth of the Event Tickets market, as tourists often seek out cultural and entertainment experiences during their stay.
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.
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