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Sport Events - Eastern Europe

Eastern Europe

Revenue in the Sport Events market is projected to reach US$0.59bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.88%, resulting in a projected market volume of US$0.77bn by 2028.
In the Sport Events market, the number of users is expected to amount to 8.6m users by 2028.
User penetration will be 2.9% in 2024 and is expected to hit 3.5% by 2028.
The average revenue per user (ARPU) is expected to amount to US$83.03.
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 Eastern Europe is experiencing significant growth and development in recent years.

Customer preferences: Customers in Eastern Europe have shown a growing interest in attending and participating in various sport events. They are increasingly looking for unique and memorable experiences, which has led to a rise in the number of niche and specialized sport events. Additionally, customers are also seeking more interactive and immersive experiences, with a focus on fan engagement and participation. This has resulted in the incorporation of new technologies and innovations in the sport events industry, such as virtual reality and augmented reality.

Trends in the market: One of the key trends in the sport events market in Eastern Europe is the increasing popularity of international sporting competitions. Countries in Eastern Europe have been successful in attracting major international sporting events, such as the UEFA European Championship and the World Athletics Championships. These events not only bring significant economic benefits to the region, but also contribute to the growth of the sport events industry by increasing the visibility and appeal of Eastern Europe as a sport destination. Another trend in the market is the growing focus on sustainability and environmental responsibility. Customers are becoming more conscious of the environmental impact of sport events and are demanding more sustainable practices. This has led to the adoption of eco-friendly initiatives, such as recycling programs, energy-efficient facilities, and carbon offsetting measures. Sport event organizers are also incorporating sustainable practices into their event planning and operations, in order to attract environmentally-conscious customers.

Local special circumstances: Eastern Europe has a rich sporting heritage and a strong tradition of supporting and participating in various sports. This passion for sports has created a favorable environment for the growth of the sport events market in the region. Additionally, Eastern Europe offers a diverse range of landscapes and venues, which provides ample opportunities for hosting different types of sport events. The region's rich cultural heritage and historical sites also add to the appeal of Eastern Europe as a sport destination, attracting both participants and spectators from around the world.

Underlying macroeconomic factors: The economic growth and increasing disposable income in Eastern Europe have contributed to the development of the sport events market. As people have more disposable income, they are willing to spend on leisure activities, including attending sport events. The growing middle class in the region has also led to an increase in sports participation, further driving the demand for sport events. Additionally, the governments in Eastern Europe have recognized the economic benefits of hosting sport events and have been actively investing in sports infrastructure and facilities, which has further stimulated the growth of 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.