About this market
Increasing number of fan zone to emerge as major trend in the market. The stakeholders of the sports industry are focusing on attaining a wider audience to showcase tournaments and expand their reach. This is benefiting the sports tourism industry. An increasing number of sports tournaments are focusing on establishing official fan zones. These fan areas can be established in the same region or city hosting the sports event, or in various other cities and regions different from the host. analysts have predicted that the sports tourism market will register a CAGR of about 36% by 2023.
Market Overview
Increasing number sports events
The global sports tourism market is experiencing growth due to the rise in the number of sporting events across the world. New tournaments in existing venues are being conducted to attract more spectators, and new venues are being established for the existing tournaments to expand the reach and popularity of sports.
Cancelation of sports event due to financial constraints
Numerous sports leagues such as IPL, PSL, and Big Bash League among others, operate on a franchise basis. However, the lack of financial support for franchisee teams can lead to cancelation of events, which can have a negative impact on the sports tourism market.
For the detailed list of factors that will drive and challenge the growth of the sports tourism market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including MATCH Hospitality and QuintEvents the competitive environment is quite intense. Factors such as the increasing number of fan zone and the increasing number sports events, will provide considerable growth opportunities to sports tourism manufactures. BAC Sports, MATCH Hospitality, QuintEvents, Sports Travel & Hospitality Group, and THG Sports are some of the major companies covered in this report.