World Sports Hospitality Market – Forecasts from 2023 to 2028: $21+ Billion Mark… – Press Release

[ad_1]

DUBLIN, July 4, 2023 /PRNewswire/ — The “Sports Hospitality Market – Forecasts from 2023 to 2028” report has been added to  ResearchAndMarkets.com’s offering.

The sports hospitality market is predicted to grow at a CAGR of 14.06% from US$8,427.448 million in 2021 to US$21,163.970 million by 2028.

Significant growth in marketing expenditure over the years and also due to entrance of the international companies in the market. For instance, regions of Europe, and the Middle East and Africa are immensely populated with sports enthusiasts. Sporting events in Europe, like FIFA, attract the highest number of viewers in the world. In fact, FIFA’s hospitality packages for the 2022 World Cup in Qatar have generated a high level of interest even before going on sale.

Younger and millennials are becoming interested in sports tourism, which gives visitors a lasting and unforgettable experience while they enjoy a sport or event. Additionally, adults and elderly folks participate in sports tourism because it promotes socializing and communication and helps with self-image and acceptability in society. Global sports hospitality is being boosted by expanding sporting events like football and cricket leagues. The demand for sports hospitality is also rising as a result of expanding social media advertising and alluring travel deals.

Additionally, the growing interest in professional sports, especially in major sports leagues like the NFL, NBA, MLB, and NHL, is also driving the demand for sports hospitality experiences. The passion and loyalty of sports fans in the USA, along with the country’s strong sports culture, contribute to the increasing demand for sports hospitality services and experiences.

Market Developments:

  • WSBSPORT and Yves Preissler Business Consulting are collaborating to create the greatest football and paddle solutions for fitness clubs and hotels throughout the world. The collaboration caters to hospitality locations that want to include sports themes in their…

[ad_2]