Market Insights Digital eServices Event Tickets

Sport Events - Guatemala

Guatemala

Revenue in the Sport Events market is projected to reach US$10.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.89%, resulting in a projected market volume of US$11.42m by 2028.
In the Sport Events market, the number of users is expected to amount to 315.4k users by 2028.
User penetration will be 1.5% in 2024 and is expected to hit 1.6% by 2028.
The average revenue per user (ARPU) is expected to amount to US$34.95.
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 Guatemala has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Guatemala have shifted towards a more active and healthy lifestyle, with an increasing number of people participating in sports and fitness activities. This has led to a growing demand for sport events, as individuals seek opportunities to showcase their skills and compete against others. Additionally, there is a strong interest in international sports events, as Guatemalans enjoy watching and supporting their favorite athletes and teams. Trends in the market have also contributed to its development. The rise of social media and digital platforms has made it easier for sport event organizers to promote their events and reach a wider audience. This has resulted in increased attendance and participation, as people are more aware of the various sport events taking place in Guatemala. Furthermore, there has been a growing trend of incorporating entertainment elements into sport events, such as live music performances and interactive activities, to attract a larger crowd and enhance the overall experience. Local special circumstances have played a role in the growth of the Sport Events market in Guatemala. The country has a rich sporting culture, with a strong passion for soccer, basketball, and other popular sports. This has created a favorable environment for the development of sport events, as there is a ready market of sports enthusiasts who are willing to attend and support these events. Additionally, Guatemala has a favorable climate for outdoor sports, which allows for year-round sport events and attracts both local and international participants. Underlying macroeconomic factors have also contributed to the development of the Sport Events market in Guatemala. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has resulted in a higher demand for leisure activities, including sport events. Furthermore, the government has been actively promoting tourism in Guatemala, which has attracted more visitors to the country. This has created additional opportunities for sport event organizers to cater to both domestic and international audiences. Overall, the Sport Events market in Guatemala is developing due to customer preferences for an active lifestyle, market trends such as the use of digital platforms and the incorporation of entertainment elements, local special circumstances including a strong sporting culture and favorable climate, and underlying macroeconomic factors such as economic growth and government support for tourism. As these factors continue to drive the market, we can expect further growth and expansion in the Sport Events industry in Guatemala.

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.