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Sport Events - Belize

Belize

Revenue in the Sport Events market is projected to reach US$113.90k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.50%, resulting in a projected market volume of US$130.70k by 2028.
In the Sport Events market, the number of users is expected to amount to 6.5k users by 2028.
User penetration will be 1.4% in 2024 and is expected to hit 1.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$18.74.
In global comparison, most revenue will be generated in the United States (US$16,430.00m 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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Customers in Belize have shown a strong preference for participating in and attending sport events. The population in Belize has a deep passion for sports, with football, basketball, and volleyball being the most popular. Belizeans enjoy both watching and participating in these sports, which has led to a high demand for sport events in the country. Additionally, there is a growing interest in niche sports such as surfing, kayaking, and paddleboarding, which has further contributed to the expansion of the sport events market.

Trends in the market: One of the key trends in the sport events market in Belize is the increasing number of international sporting events being hosted in the country. Belize has been successful in attracting major sporting events, such as international football tournaments and basketball championships. This trend has not only boosted tourism in the country but has also created opportunities for local businesses and athletes to showcase their talent on a global stage. Another trend in the market is the rise of eco-sport events. Belize is known for its rich biodiversity and natural beauty, making it an ideal destination for eco-tourism. As a result, there has been a growing demand for sport events that promote sustainability and environmental conservation. Eco-sport events such as trail running races, eco-friendly fishing tournaments, and nature-based adventure races have gained popularity among both locals and tourists.

Local special circumstances: Belize's unique geographical location and natural resources play a significant role in the development of the sport events market. The country is home to the second-largest barrier reef in the world, attracting divers and water sports enthusiasts from around the globe. This has led to the emergence of water-based sport events such as sailing regattas, snorkeling competitions, and fishing tournaments. Furthermore, Belize's diverse cultural heritage has also contributed to the growth of the sport events market. Traditional sports such as Mayan ball game tournaments and Garifuna drumming competitions have become popular attractions, allowing visitors to experience the rich cultural traditions of Belize.

Underlying macroeconomic factors: The growth of the sport events market in Belize can be attributed to several underlying macroeconomic factors. The government of Belize has recognized the potential of the sport events industry in driving economic growth and has invested in infrastructure development to support the hosting of major sporting events. This includes the construction of state-of-the-art stadiums, sports complexes, and training facilities. Additionally, the increasing popularity of sport events in Belize has attracted sponsorship and investment from both local and international companies. This has provided a financial boost to the sport events industry, allowing for the organization of larger and more high-profile events. In conclusion, the Sport Events market in Belize is experiencing significant growth and development due to customer preferences for sports, the hosting of international events, the rise of eco-sport events, local special circumstances such as natural resources and cultural heritage, and underlying macroeconomic factors such as government investment and sponsorship. This trend is expected to continue in the coming years, further establishing Belize as a vibrant and thriving 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.