Global Sports Tourism Market By Type (International Sports Tourism And Domestic Sports Tourism), By Application (Teenagers, Middle-Aged People And Elder), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Sports Tourism Market By Type (International Sports Tourism And Domestic Sports Tourism), By Application (Teenagers, Middle-Aged People And Elder), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)
Trusted Business Insights has published a comprehensive market research report on, Global Sports Tourism Market by Type (International sports tourism and Domestic sports tourism), By Application (Teenagers, Middle-aged people and Elder), and by Region -Global Forecast to 2030, which offers a holistic view of the global Sports Tourism market through systematic segmentation that covers every aspect of the target market.

The global Sports Tourism market is projected to be US$ 1,636.7 Mn in 2020 to reach US$ 3,399.6 Mn by 2030 at a CAGR of 7.6%.

Sports tourism refers to travelling related to observing or participating in sporting events. Sports tourism is the fastest growing sector of the global travel industry.  Sports tourism has not been extremely popular, during the recent decades, but also witnessing tremendous boom owing to rise in public interest in national as well as international sports tournaments. Customers are travelling far and wide to attend their favourite sports event. The fan following emotion, along with travelling-vacationing culture, encourages the sudden spike in popularity. Technology advancement in recent years has appeared to make a huge impact on the sports industry, due to the availability of buying tickets online through the various site. Moreover, customers are also aware of when and where sports events will take place in advance.

Increase in disposable income is also one of the major factor fueling the growth of sports tourism. Advancement in the transportation system is expected to support the growth of sport tourism. Owing to the invention of the automobile and air travel in the past century, the customer has been able to move to various location to participate in sports activities. Innovation in media technology has led to aid the popularity in the sports tourism market. Moreover, the improvement in sports equipment production has also contributed to the development of sports events.


Global Sports Tourism Market Revenue (US$ Mn), 2021 to 2030


However, the increase in growth of sports tourism by participants as well as viewer is expected to create local and national communities combat concerns, which in turn to growth obstacle for the market. The high cost of travelling like air tickets in the developing region can hamper the overall growth of the sports tourism market. Moreover, perpetual growth in hotel & hospitality sector is also providing equal opportunities for the target market. Also, Travel companies like PRIMESPORT and Road trips focus on sports tourism packages that include accommodation, tickets for the sports event, travel arrangements etc. This is seen to be trending in the sport tourism market.

Global sports tourism market is segmented on the basis of product type, application and region. On the basis of product type, the market is segmented into International sports tourism and domestic sports tourism. On the basis of application, the market is segmented into teenagers, middle-aged people and elder.


Global Sports Tourism Market by Product Type, 2018


On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. North America accounts for the majority share in the global Sports Tourism market, owing to technology innovation is expected to boost demand for the sports tourism market in coming years. APAC is expected to register the highest growth rate over the forecast period. Countries and regions such as China, Japan, South America and MEA are expected to register stable growth over the forecast period.

The research report on the global sports tourism market includes profiles of some of the major companies such as Cipla Ltd., Apotex Inc., BAC Sport, Great Atlantic Sports Travel, ITC Sports Travel, TUI AG, Fanatic Sports, Sportsnet Holidays, Sports Tours International, MATCH Hospitality AG, THG SPORTS and other prominent players.

Key Market Segments:
By Product

  
Soccer tourism
  
Cricket tourism
  
Tennis tourism
  
Others

By Type

  
Domestic sports tourism
  
International sports tourism

By Application

  
Passive sports tourism
  
Active sports tourism


Key Market Players included in the report:


  
Apotex Inc.
  
BAC Sports Ltd.
  
Cipla Ltd.
  
DTB Sports Hospitality and Event Management Ltd.
  
Fanatic Sports
  
Great Atlantic Sports Travel
  
International Sports Management Inc.
  
ITC Sports Travel
  
MATCH Hospitality AG
  
QuintEvents LLC
  
Sports Travel & Hospitality Group Ltd.
  
Sportsnet Corporation Pty Ltd.
  
Sportsnet Holidays
  
THG SPORTS
  
travelOsports
  
TUI AG


Below are the key development related to Sports Tourism Market in 2020 and 2021.
May  2021: Sports tourism brings in over $10 million in economic impact for Huntsville. As the pandemic wanes across the Tennessee Valley, several large sporting events have brought more than $10 million in economic impact to the City of Huntsville. During the last three months, calculations from the Destinations International found 14 events that brought in the revenue to Huntsville, including the Southeastern Conference Gymnastics Championship, Coastal Collegiate Sports Association beach volleyball, and the Southwestern Athletic Conference baseball tournament. Source
March 2021: Ontario Supports Tourism, Culture, Sport and Recreation Organizations. The Ontario government is investing $105 million through the new Community Building Fund to support non-profit tourism, culture, sport and recreation organizations. The $50-million capital funding stream will go to municipalities and non-profit organizations to carry out sport- and recreation-facility infrastructure repairs, including retrofits and rehabilitation to meet COVID-19 public health protocol requirements and local community needs. Source