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Sport Events - Paraguay

Paraguay

Revenue in the Sport Events market is projected to reach US$3.58m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.55%, resulting in a projected market volume of US$3.66m by 2028.
In the Sport Events market, the number of users is expected to amount to 155.2k users by 2028.
User penetration will be 2.0% in 2024 and is expected to hit 2.0% by 2028.
The average revenue per user (ARPU) is expected to amount to US$24.10.
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 Paraguay is experiencing significant growth and development. Customer preferences are shifting towards more active and participatory forms of entertainment, leading to an increased demand for sports events. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market.

Customer preferences: In Paraguay, there is a strong cultural emphasis on sports and physical activity. The population has a deep passion for sports, particularly football, which is the most popular sport in the country. As a result, there is a high demand for sports events, including football matches, athletic competitions, and other sporting tournaments. People enjoy the excitement and thrill of live sports events, as they provide an opportunity to support their favorite teams and players.

Trends in the market: One of the key trends in the sport events market in Paraguay is the increasing popularity of international sporting competitions. Paraguay has hosted several major tournaments in recent years, including the South American Games and the Copa America. These events attract a large number of spectators from both Paraguay and neighboring countries, boosting tourism and generating revenue for the local economy. Another trend in the market is the growing interest in niche sports. While football remains the dominant sport in Paraguay, there is a rising demand for other sports such as basketball, volleyball, and rugby. This trend is driven by the increasing exposure to international sports events and the growing influence of global sporting trends.

Local special circumstances: Paraguay's geographic location and climate also contribute to the development of the sport events market. The country's mild climate allows for year-round outdoor sports activities, making it an attractive destination for sports events. Additionally, Paraguay's central location in South America makes it easily accessible for both domestic and international participants and spectators. Furthermore, the government of Paraguay has been actively promoting sports and physical activity as part of its public health initiatives. This has led to increased investment in sports infrastructure, such as stadiums, arenas, and training facilities, which has further fueled the growth of the sport events market.

Underlying macroeconomic factors: The growth of the sport events market in Paraguay is also supported by favorable macroeconomic conditions. The country has experienced stable economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, people have more financial resources to spend on leisure activities, including attending sports events. Additionally, Paraguay has seen a steady increase in international tourism, which has a positive impact on the sport events market. Tourists visiting the country are often interested in experiencing the local culture and participating in sports activities. This has created a demand for sports events that cater to both local and international audiences. Overall, the sport events market in Paraguay is thriving due to customer preferences for active entertainment, the emergence of new trends, local special circumstances, and favorable macroeconomic factors. The industry is expected to continue growing as more people embrace sports and physical activity as a form of leisure and entertainment.

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.