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Sport Events - Bolivia

Bolivia

Revenue in the Sport Events market is projected to reach US$9.33m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.91%, resulting in a projected market volume of US$11.74m by 2028.
In the Sport Events market, the number of users is expected to amount to 270.3k users by 2028.
User penetration will be 2.0% in 2024 and is expected to hit 2.1% by 2028.
The average revenue per user (ARPU) is expected to amount to US$37.51.
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

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Analyst Opinion

The Sport Events market in Bolivia has been experiencing significant growth in recent years. Customer preferences have shifted towards participating in and attending sporting events, leading to an increase in demand for such events. This trend can be attributed to several factors, including the growing popularity of sports in Bolivia, the country's improving economy, and the emergence of local sporting heroes.

Customer preferences: Bolivians have always had a passion for sports, with football being the most popular sport in the country. However, in recent years, there has been a noticeable increase in interest and participation in other sports such as basketball, volleyball, and tennis. This shift in customer preferences has created a demand for a wider variety of sporting events, catering to different interests and age groups.

Trends in the market: One of the key trends in the Sport Events market in Bolivia is the rise of professional sporting leagues and tournaments. This trend can be attributed to the increasing number of talented athletes emerging from Bolivia and the growing interest from both local and international investors. As a result, there has been a surge in the number of professional football, basketball, and volleyball leagues, as well as the organization of international tournaments in these sports. Another trend in the market is the increasing popularity of sports tourism in Bolivia. The country's diverse landscapes and natural beauty make it an attractive destination for sports enthusiasts. Many international sporting events, such as marathons and triathlons, are now being held in Bolivia, attracting participants and spectators from around the world. This trend has not only boosted the Sport Events market but also the overall tourism industry in the country.

Local special circumstances: Bolivia's unique geographical location and cultural heritage have contributed to the development of the Sport Events market. The country's high altitude and mountainous terrain make it an ideal destination for extreme sports such as mountain biking, rock climbing, and paragliding. Additionally, Bolivia's indigenous communities have a rich tradition of traditional sports and games, which are now being showcased and celebrated through various events and festivals.

Underlying macroeconomic factors: The improving economy in Bolivia has played a significant role in the development of the Sport Events market. As the country's GDP continues to grow, more people have disposable income to spend on leisure activities, including attending sporting events. This has created a favorable environment for the expansion of the market, with increased investments in sports infrastructure, facilities, and marketing. In conclusion, the Sport Events market in Bolivia is experiencing significant growth due to changing customer preferences, the emergence of professional leagues and tournaments, the rise of sports tourism, and the country's unique geographical and cultural circumstances. These trends, coupled with the improving economy, have created a thriving market for sports events in Bolivia.

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.