Sports and Music Tourism Will Soon Represent a $1.5 Trillion Economy
A new study shows that both sectors are expected to more than double their economic impact in the next eight years.
If you’ve lost track of how many people in your orbit have recently posted pictures of themselves at a Formula One race or Taylor Swift concert, chances are you’re not alone. According to new research from Collinson International Ltd., which owns Priority Pass and LoungeKey airport lounges around the world, sports and music tourism are growing at unprecedented rates and are forecast to represent a $1.5 trillion industry by 2032.
Sports tourism represents the overwhelming majority of that figure. Valued at $564.7 billion in 2023, it’s expected to skyrocket to $1.33 trillion in the next eight years. Music tourism, meanwhile, is projected to contribute an additional $13.8 billion, more than doubling its current valuation of $6.6 billion.