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Sport Events - Laos

Laos

Revenue in the Sport Events market is projected to reach US$1.18m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.85%, resulting in a projected market volume of US$1.27m by 2028.
In the Sport Events market, the number of users is expected to amount to 81.1k 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$15.23.
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 Laos has been experiencing steady growth in recent years. Customer preferences have shifted towards more active and participatory forms of entertainment, leading to an increased demand for sports events. Additionally, the local government has been actively promoting sports tourism, attracting both domestic and international visitors to attend sporting events in the country. Customer preferences in Laos have evolved to prioritize experiences that are engaging and interactive. Sports events provide an opportunity for individuals to actively participate and be part of the action. This trend is driven by a desire for a more immersive and memorable experience, as compared to traditional forms of entertainment such as watching movies or attending concerts. As a result, sports events have gained popularity among the local population, especially among the younger demographic. Trends in the market indicate a growing interest in both traditional and non-traditional sports. Traditional sports such as football and basketball continue to be popular, with a strong fan base and regular competitions. However, there has also been a rise in the popularity of non-traditional sports such as obstacle course races and extreme sports. These events offer a unique and thrilling experience, attracting participants and spectators alike. Local special circumstances in Laos contribute to the development of the sport events market. The country's rich cultural heritage and natural landscapes provide a unique backdrop for sporting events. This has led to the emergence of niche sports events that highlight the cultural and natural beauty of the country. For example, there are now marathons and cycling races that take participants through scenic routes, showcasing the country's natural wonders. Underlying macroeconomic factors also play a role in the growth of the sport events market in Laos. The country's economy has been steadily growing, leading to an increase in disposable income and leisure spending. This has allowed more individuals to participate in sports events and support the development of the market. Additionally, the government's focus on sports tourism has attracted investment and infrastructure development, further driving the growth of the market. In conclusion, the Sport Events market in Laos is developing due to changing customer preferences towards more active and participatory forms of entertainment, the promotion of sports tourism by the government, and the underlying macroeconomic factors such as economic growth and investment in infrastructure. These factors have contributed to the increasing popularity of sports events in the country, creating opportunities for both domestic and international participants and spectators.

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.