Market Insights Digital eServices Event Tickets

Sport Events - Gambia

Gambia

Revenue in the Sport Events market is projected to reach US$325.10k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.46%, resulting in a projected market volume of US$417.60k by 2028.
In the Sport Events market, the number of users is expected to amount to 30.6k users by 2028.
User penetration will be 1.0% in 2024 and is expected to hit 1.0% by 2028.
The average revenue per user (ARPU) is expected to amount to US$12.61.
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 Gambia is experiencing steady growth due to increasing customer preferences for live sports, the emergence of new trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Gambia have shown a strong preference for live sports events. They enjoy the thrill and excitement of watching their favorite teams and athletes compete in person. This preference is driven by the desire for a unique and immersive experience that cannot be replicated through television or online streaming. Additionally, attending live sports events allows customers to connect with other fans and be part of a community that shares their passion for sports.

Trends in the market: One of the key trends in the Sport Events market in Gambia is the increasing popularity of international sporting events. Gambia has hosted several international tournaments in recent years, including football, basketball, and athletics competitions. These events attract a large number of spectators from both Gambia and neighboring countries, boosting the local economy and promoting tourism. The demand for tickets to these events is high, indicating a growing interest in international sports among the local population. Another trend in the market is the rise of niche sports events. While football remains the most popular sport in Gambia, there is a growing interest in other sports such as basketball, volleyball, and athletics. This has led to the organization of more specialized sports events catering to these niche markets. These events not only provide opportunities for athletes in these sports to showcase their skills but also attract a dedicated fan base that is passionate about these sports.

Local special circumstances: Gambia's geographical location and climate make it an ideal destination for outdoor sports events. The country's warm weather and beautiful landscapes provide a picturesque backdrop for sports competitions. This has led to an increase in the number of outdoor sports events being organized in Gambia, such as marathons, triathlons, and beach volleyball tournaments. The local population also enjoys participating in these events, further contributing to their success.

Underlying macroeconomic factors: The Sport Events market in Gambia is also influenced by underlying macroeconomic factors. The country's stable economic growth and increasing disposable income have contributed to the growing demand for sports events. As more people have the financial means to attend live sports events, the market has expanded to accommodate this demand. Additionally, the government's investment in sports infrastructure and facilities has further facilitated the growth of the Sport Events market in Gambia. This includes the construction of stadiums, sports complexes, and training facilities, which attract both local and international sports events. In conclusion, the Sport Events market in Gambia is developing due to customer preferences for live sports, the emergence of new trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing popularity of international sporting events, the rise of niche sports events, Gambia's geographical advantages, and the country's stable economic growth all contribute to the growth and success of the Sport Events market in Gambia.

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.