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Sport Events - Lebanon

Lebanon

Revenue in the Sport Events market is projected to reach US$3.82m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.07%, resulting in a projected market volume of US$3.83m by 2028.
In the Sport Events market, the number of users is expected to amount to 281.7k users by 2028.
User penetration will be 4.6% in 2024 and is expected to hit 4.6% by 2028.
The average revenue per user (ARPU) is expected to amount to US$13.00.
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 Lebanon has been experiencing significant growth in recent years.

Customer preferences: Lebanese customers have shown a growing interest in sports events, with a particular focus on football and basketball. These sports have a strong following in the country, and fans are eager to attend live matches and tournaments. Additionally, there is a growing interest in international sports events, with Lebanese fans showing enthusiasm for events such as the FIFA World Cup and the Olympics.

Trends in the market: One of the key trends in the Sport Events market in Lebanon is the increasing number of international sports events being held in the country. This has been driven by the government's efforts to attract major sporting events, as well as the growing interest and support from local fans. The hosting of international events not only brings economic benefits to the country but also enhances its reputation on the global stage. Furthermore, there has been a rise in the number of sports events organized by local sports clubs and organizations. These events cater to the specific interests of the Lebanese audience and provide opportunities for local athletes to showcase their skills. This trend has led to an increase in the number of sports events being held throughout the year, offering a wide range of options for sports enthusiasts.

Local special circumstances: Lebanon's rich sporting culture and history contribute to the popularity of sports events in the country. The passion for sports is deeply ingrained in Lebanese society, and sports events are seen as a way to bring people together and foster a sense of community. Additionally, the country's geographical location, with its beautiful landscapes and mild climate, provides an ideal setting for outdoor sports events.

Underlying macroeconomic factors: The growing Sport Events market in Lebanon can be attributed to several macroeconomic factors. Firstly, there has been an increase in disposable income among the Lebanese population, allowing them to spend more on leisure activities such as attending sports events. Additionally, the government's focus on promoting tourism and attracting international visitors has led to an influx of tourists who are interested in attending sports events during their stay. In conclusion, the Sport Events market in Lebanon is experiencing growth due to customer preferences for sports such as football and basketball, the increasing number of international and local sports events, Lebanon's rich sporting culture, and favorable macroeconomic factors such as rising disposable income and government support for tourism. These factors are driving the development of the Sport Events market in Lebanon and are expected to continue to contribute to its growth in the future.

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.