Report sees Saudi, Qatar and UAE tapping US$600bn market
A new report by consultancy Kearney has identified the Middle East as the region best-positioned to take advantage of the US$600 billion global sports market, and the significant impact that has on tourism.
UN Tourism says sport generates around 10% of global expenditure on tourism and is one of the fastest-growing sectors.
The opportunity is clear. A recent survey from Hyatt said 45% of UAE travellers would plan entire holidays around sporting events, take part in 12 activities and attend seven events on average in the next year.
Currently valued at US$417 billion, Kearney expects global sport to be worth US$602 billion by 2030, driven by three key factors: the rise of women’s sports, new sport formats and the emergence of the Middle East for sporting investments and events.
“The Middle East isn’t just investing in sport, it’s reimagining its purpose," said Roland Nikolaou, Head of Football for MENA and APAC at IMG, talking to Kearney.
The region is no stranger to hosting global sporting events, with Qatar home to the 2022 FIFA World Cup and four GCC countries (UAE, Bahrain, Qatar and Saudi) hosting annual Formula 1 races.
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