Tuesday, October 1, 2024 The global sports tourism market, valued at $323.42 billion in 2020, is projected to surge to $1.8 trillion by 2030, with a robust compound annual growth rate (CAGR) of 16.
1% from 2021 to 2030. Sports tourism, which involves travel for either observing or participating in sporting events, is becoming a vital component of the travel and tourism industry. The rise in international sporting events, improved infrastructure, and the growing affluence of travelers are driving this market’s exponential growth.
The market is divided into three categories: sports event tourism, celebrity and nostalgia sports tourism, and active sports tourism. Whether it’s attending iconic global sports events like football or tennis, or traveling for active participation, the industry is seeing unprecedented expansion. As sporting events continue to expand globally, so will the demand for related travel and accommodation services.
Increasing numbers of fan zones, greater seating capacity in sports venues, and better infrastructure will ensure the steady growth of this market. However, challenges such as the financial constraints of franchise teams and the impacts of global disruptions like COVID-19 could pose occasional roadblocks..