According to a study by Future Market Insights, the sports tourism market in India, which is currently worth US$ 10,870.41 million, is anticipated to grow at an astounding CAGR of 17.1% and reach US$ 52,967 million by the end of the forecast period.
Over the past decade, there has been inception of league games like IPL, ISL, PKL etc. All these leagues have not only contributed towards an increasing follower pertaining to these games, but there has been an influx of both domestic and overseas tourists. This might well expand the demand for Indian sports tourism.
Sports tourism provides the host country with high media coverage. This coverage will cover not only the sporting event but also provide important information about the country’s cultural and entertainment locations as well as an overall country profile. Consequently, the India sports tourism market trends are expected to see an upward curve.
Request our Sample Report now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-15292
There are big mainstream tour operators who set up a separate division to tap the potential of Sports Tourism. A new concept in India about a decade ago, Sports Tourism, has developed rapidly over the past five years. A large number of agents and tour operators are introducing interesting packages surrounding major sporting events. This is expected to have a positive impact on India sports tourism market trends.
The government has been actively taking steps to improve sports tourism in India since the last 5 years. Be it infrastructure development, allocation of funds, etc. the government has been involved in taking most of the right steps to see to it that the India sports market size increases in the coming future. Some of them include:
- Increasing the sports budget from Rs 702 crores in 2014-15 to Rs 2216 crores 2019-20.
- Encouraging towards inculcating a culture of sports right from the school level by launching Urban Sports Infrastructure Scheme and Khelo India Scheme.
- Launched a National Sports Talent Search System in 2015, which provides financial assistance to state governments to identify and nurture prospective athletes between the age of 8 and 12.
Additionally, the development of online games like Dream 11, MPL etc. has ensured that people remain hooked to such games because of which they win huge amounts. This is expected to be a major driver for the India sports tourism market share.
Request Report Methodology:
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-15292
Key Takeaways:
- The valuation of India sports tourism market as on 2022 is US $ 9469 million.
- In 2032, the anticipated valuation of the India sports tourism market is US $ 37646.36 million.
- Based on the booking channel, online booking is the most preferred by the tourists.
- The package tour has the maximum market share in the tour type segment of India sports tourism market.
- Cricket is the most preferred sport in the India sports tourism market.
- Active sports tourism is the most popular tourism type.
- Based on the consumer orientation, men have the maximum market share.
- Domestic tourists occupy the major chunk of the market based on the tourist type.
- The age group of 26-35 has the highest market share in the age group segment.
Key Players
- Sports Travel
- Expedia
- Sports Connect
- Fanatic Sports
- Melsh Sports Tours
- Ananta Group
- Thomas Cook
- La Vacanza Travel Pvt. Ltd.
- Leisure Sports Travel
- travel sports
- World Sports Travels
- Sports Tour Packages
- Adventures365.in
- Adventure Nation
- Trekking in India
- The Great Next – Adventure Tours
- India Boats
Competitive Landscape
Leading players operating in India and other country-based companies operating in India are focusing on expanding their businesses. Apart from that, the major players are looking at ways to enter into exciting collaborations with some major players in the hospitality industry to provide customer delight.
Some of the recent developments are:
- Sports travel will be presenting the event TEAMS’22, which will be hosted by Oklahoma City CVB. The event is scheduled to be held from October 24-27 2022.
- In July 2022, Village hotels, a group of more than 30 hotels across UK, has joined Expedia group’s Optimised Distribution programme to provide travellers with better room rates and more accurate content.
Market Segmentation
By Sports Type:
- Football/Soccer
- Cricket
- Motorsports
- Basketball
- Others
By Sports Tourism Type:
- Sports Event Tourism
- Nostalgia Sports Tourism
- Active Sports Tourism
- Passive Sports Tourism
By Consumer Orientation:
- Men
- Women
- Children
By Booking Channel:
- Phone Booking
- Online Booking
- In-Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
