By Abigail Glickman, Bloomberg News If you’ve lost track of how many people in your orbit have recently posted pictures of themselves at a Formula One race or Taylor Swift concert, chances are you’re not alone. According to new research from Collinson International Ltd., which owns Priority Pass and LoungeKey airport lounges around the world, sports and music tourism are growing at unprecedented rates and are forecast to represent a $1.
5 trillion industry by 2032. Sports tourism represents the overwhelming majority of that figure. Valued at $564.
7 billion in 2023, it’s expected to skyrocket to $1.33 trillion in the next eight years. Music tourism, meanwhile, is projected to contribute an additional $13.
8 billion, more than doubling its current valuation of $6.6 billion. For the purposes of its report, published on July 29, Collinson defined travelers as anyone who flew to an event, whether internationally or within their own country.
Of 8,537 surveyed travelers from 17 countries, more than four in five (83%) have flown to a sporting event while 71% have boarded a plane for a concert in the past three years, or plan to in the next 12 months. Collinson used those results to model how the industry has expanded and may continue to do so — assuming linear growth in spite of history-making events such as Swift’s Eras Tour or the first Summer Olympics in eight years to allow in-person spectators, which are currently underway in Paris. “People are placing high value on ex.