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Sport Events - Bulgaria

Bulgaria

Revenue in the Sport Events market is projected to reach €7.86m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.39%, resulting in a projected market volume of €8.64m by 2028.
In the Sport Events market, the number of users is expected to amount to 195.2k users by 2028.
User penetration will be 2.9% in 2024 and is expected to hit 3.0% by 2028.
The average revenue per user (ARPU) is expected to amount to €40.71.
In global comparison, most revenue will be generated in the United States (€15,080.00m in 2024).
With a projected rate of 17.1%, the user penetration in the Sport Events market is highest in Luxembourg.

Key regions: India, Brazil, Germany, South Korea, China

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Región

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Moneda

Analyst Opinion

The Sport Events market in Bulgaria has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Bulgaria have shifted towards a more active and health-conscious lifestyle, leading to an increased demand for sport events. Bulgarians are increasingly participating in recreational sports and fitness activities, and attending sport events has become a popular form of entertainment. Additionally, there is a growing interest in international sports competitions, with many Bulgarians supporting and attending events featuring their favorite teams or athletes. Trends in the market have also contributed to the growth of the Sport Events industry in Bulgaria. The country has seen an increase in the number of international sport events being hosted, including major tournaments and championships. This has not only attracted local spectators but also international visitors, boosting tourism and the overall economy. Furthermore, there has been a rise in the popularity of niche sports and alternative events, catering to specific interests and preferences of the Bulgarian population. Local special circumstances in Bulgaria have played a role in the development of the Sport Events market. The country has a rich sporting heritage, with a strong tradition of athletic excellence. This has created a supportive environment for the growth of the industry, as there is a strong base of sports fans and enthusiasts. Additionally, the government and local authorities have been actively promoting sports and investing in sports infrastructure, providing the necessary facilities and resources for hosting events. Underlying macroeconomic factors have also contributed to the growth of the Sport Events market in Bulgaria. The country has experienced steady economic growth in recent years, which has resulted in increased disposable income for individuals. This has allowed more people to afford tickets to sport events and participate in related activities. Furthermore, the government's focus on developing the tourism sector has led to increased investment in sport events, as they are seen as a way to attract visitors and boost the economy. In conclusion, the Sport Events market in Bulgaria is experiencing significant growth due to customer preferences for an active lifestyle, market trends such as the hosting of international events, local special circumstances including a strong sporting heritage, and underlying macroeconomic factors such as economic growth and government support. This positive trajectory is expected to continue in the coming years, making Bulgaria an attractive destination for sport events.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.