Global Sports Tourism to Hit $771.4 Billion by 2028

Photo: Shutterstock

The global sports tourism market is set to grow by $771.4 billion between 2024 and 2028, achieving a compound annual growth rate (CAGR) of 15.2%, according to Technavio's latest report. This surge is driven by an increasing number of sporting events and advancements in virtual reality (VR) technology that are reshaping the sector.

Key Highlights

• Market Dynamics:
  Live sporting events, including the FIFA World Cup, Formula 1, and marathons, continue to attract millions of travelers worldwide. Europe leads the market, contributing 46% to global growth, followed by APAC and North America.

• Technological Shifts:
  VR technology offers fans new ways to experience sports, from immersive stadium views to interactive game replays. While still evolving, VR could redefine how sports tourism interacts with live audiences.

• Challenges:
  Seasonal fluctuations, infrastructure limitations, and financial constraints on event organizers pose hurdles. Sustainable practices and eco-friendly initiatives are essential for ensuring long-term growth.

• Key Players:
  Companies like ATPI Ltd., Match Hospitality AG, and Thomas Cook India Ltd. are driving market evolution, leveraging AI-powered analytics to optimize travel experiences.

Growth Opportunities

The rising popularity of adventure sports and adrenaline-focused experiences, such as safaris and triathlons, adds diversity to the sports tourism landscape. Strategic partnerships between sports organizations, tour operators, and host cities are vital for creating premier travel destinations.

For a deeper dive into how AI and VR are shaping sports tourism, access the full report on Technavio’s platform.