Sports tourism refers to travel that involves either observing or participating in a sporting event while staying away from the tourists’ usual environment. Sports tourism is a fast-growing sector of the global travel industry.

As per the report, the global sports tourism industry was pegged at $323.42 billion in 2020, and is expected to reach $1,803.70 billion by 2030, growing at a CAGR of 16.1% from 2021 to 2030.

Drivers, restraints, and opportunities

The rise in GDP and employment contribution, the increased popularity of sport tourism to break monotonous lifestyles, the advent of mobile ticketing, and the surge in spending ability drive the global sport tourism market. However, cancellations of sports activities due to limited budgets hinder market growth. On the contrary, an increase in the number of athletic events and a rise in tournaments in existing venues to attract more spectators than before are expected to open new opportunities for market players in the future.

Covid-19 scenario:

• The global sports tourism market took a hit due to the Covid-19 outbreak, as several sports tournaments were canceled and international travel was banned.
• However, the market is expected to recover by 2022 due to an increase in vaccination campaigns and active participation in sporting activities.

The motorsport segment is expected to manifest the highest CAGR through 2030

By product, the motorsport segment would showcase the highest CAGR of 17.4% during the forecast period, due to the participation of top countries in hosting motorsport events. However, the football/soccer segment held the largest share in 2020, accounting for nearly one-third of the global sports tourism market, owing to the popularity of football events such as the FIFA World Cup.

The domestic segment held the largest share

By type, the domestic segment dominated the market in terms of revenue in 2020, contributing to nearly three-fifths of the global sports tourism market, due to heavy investments in sports infrastructure and the popularity of sports in several countries.

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However, the international segment is expected to manifest the highest CAGR of 16.8% during the forecast period, owing to a rise in disposable income, improved infrastructure, favorable government policies regarding international tourists, and relationships between host and concerned nations.

Europe, followed by North America, held the largest share

By region, the market across Europe, followed by North America, held the largest share in 2020, accounting for nearly two-fifths of the market, due to the presence of a large population and high participation in sports activities.

However, the global sports tourism market across Asia-Pacific is projected to register the highest CAGR of 17.7% during the forecast period, owing to an increase in sports participation and sports event hosting.

Major market players

Allied Market Research published a report, titled “Sports Tourism Market: Global Opportunity Analysis and Industry Forecast 2021–2030″.

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