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Sport Events - Central America

Central America

Revenue in the Sport Events market is projected to reach €37.08m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.43%, resulting in a projected market volume of €40.82m by 2028.
In the Sport Events market, the number of users is expected to amount to 1.1m users by 2028.
User penetration will be 1.9% in 2024 and is expected to hit 2.0% by 2028.
The average revenue per user (ARPU) is expected to amount to €35.53.
In global comparison, most revenue will be generated in the United States (€15,020.00m 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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Analyst Opinion

The Sport Events market in Central America is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in Central America are shifting towards a more active and healthy lifestyle. There is a growing interest in participating in and attending sport events, as people recognize the importance of physical activity for their overall well-being. This increased demand for sport events is driving the growth of the market in the region. One of the key trends in the market is the rise of international sport events in Central America. The region has been successful in attracting major sporting events such as the Central American Games and the Central American and Caribbean Games. These events not only bring in athletes and spectators from around the world but also generate significant economic benefits for the host countries. The increasing popularity of these international events has further fueled the growth of the sport events market in Central America. Another trend in the market is the expansion of local sport events. Central American countries are investing in the development of their own sport events to promote tourism and boost their economies. These events range from local tournaments to national championships and are attracting both local and international participants. The growth of local sport events is creating opportunities for local businesses and contributing to the overall growth of the market. Local special circumstances also play a role in the development of the sport events market in Central America. The region's favorable climate and natural landscapes make it an ideal destination for outdoor sport events. Central American countries are capitalizing on their natural resources by hosting events such as marathons, triathlons, and cycling races. These events not only showcase the beauty of the region but also attract participants and spectators who are looking for unique and challenging experiences. Underlying macroeconomic factors are also driving the growth of the sport events market in Central America. The region has experienced stable economic growth in recent years, which has increased disposable income and consumer spending. As a result, more people are able to afford to participate in and attend sport events. Additionally, governments in Central America are recognizing the economic potential of the sport events industry and are investing in infrastructure and facilities to support its growth. In conclusion, the Sport Events market in Central America is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards a more active lifestyle, the rise of international and local sport events, the region's favorable climate and natural landscapes, and stable economic growth are all contributing to the positive trend in the market.

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.