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Sport Events - Jamaica

Jamaica

Revenue in the Sport Events market is projected to reach €439.40k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -2.75%, resulting in a projected market volume of €393.00k by 2028.
In the Sport Events market, the number of users is expected to amount to 38.3k users by 2028.
User penetration will be 1.3% in 2024 and is expected to hit 1.3% by 2028.
The average revenue per user (ARPU) is expected to amount to €11.59.
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

Comparación de regiones

Moneda

Analyst Opinion

The Sport Events market in Jamaica is experiencing significant growth and development in recent years.

Customer preferences: Jamaicans have a strong passion for sports, particularly cricket, football, and athletics. This has created a high demand for sport events in the country. Additionally, Jamaicans are known for their vibrant and energetic culture, which makes them enthusiastic participants and spectators of sport events. They enjoy the excitement and camaraderie that comes with attending live sporting events.

Trends in the market: One major trend in the sport events market in Jamaica is the increasing popularity of international sporting competitions held in the country. Jamaica has a rich history in athletics, with world-renowned athletes such as Usain Bolt and Shelly-Ann Fraser-Pryce hailing from the island. This has attracted global attention and led to the hosting of prestigious events like the World Championships and Diamond League meets. The success of these events has further boosted the reputation of Jamaica as a top destination for sport events. Another trend in the market is the growing interest in niche sports. While cricket and football remain popular, there is a rising demand for sports such as basketball, netball, and rugby. This can be attributed to the influence of international media and the increasing exposure of Jamaicans to a wider range of sports. As a result, more sport events are being organized to cater to these niche interests, attracting both local and international participants.

Local special circumstances: Jamaica's warm climate and beautiful natural landscapes make it an ideal location for outdoor sport events. The country's tropical weather allows for year-round sporting activities, attracting athletes and spectators from around the world. Additionally, Jamaica's reputation as the birthplace of reggae music and its vibrant cultural scene add to the unique experience of attending sport events in the country.

Underlying macroeconomic factors: The growth of the sport events market in Jamaica can also be attributed to the country's improving economy. With a stable political environment and increasing investment in infrastructure, Jamaica has been able to attract more international sporting events. The government has recognized the economic benefits of hosting such events, including increased tourism revenue and job creation. As a result, there has been a concerted effort to improve sports facilities and promote Jamaica as a sports tourism destination. In conclusion, the Sport Events market in Jamaica is thriving due to customer preferences for sports, the popularity of international competitions, the growing interest in niche sports, the country's favorable climate and cultural scene, and the improving macroeconomic factors. As the market continues to develop, it is expected that more sport events will be organized in Jamaica, further cementing its position as a top destination for sports enthusiasts.

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.