The Worldwide Sports Events Industry is Expected to Reach $609 Billion by 2031
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The global sports events market size was valued at $184,612.2 million in 2021 and is estimated to reach $609,066.8 million by 2031, registering a CAGR of 10.5% from 2022 to 2031.
One of the key drivers of the market's growth is the considerable increase in sporting events such as the Olympics, the Football World Cup, and the NBA. It is anticipated that rise in premier leagues in various sports and the expanding popularity of sportsmen will further contribute to the growth.
The industry is expected to have plenty of development prospects due to factors including the expanding acceptance of digital tickets and the increased use of smartphones worldwide. The lack of pricing management and the ambiguity around ticket prices, however, could limit market expansion.
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