Global Leisure Industry to 2031 – Identifying Growth Segments for Investment – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Leisure Market Report 2022, by Type, Age Group, Revenue Source” report has been added to from ResearchAndMarkets.com offer.

This report provides strategists, marketers, and senior management with the critical information they need to assess the global leisure market emerging from the COVID-19 lockdown.

The global leisure market is expected to grow from $960.66 billion in 2021 to $1,485.79 billion in 2022 at a compound annual growth rate (CAGR) of 54.7%.

The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $2,557.38 billion in 2026 with a CAGR of 14.5%.

Companies cited

  • China Sports Lottery

  • China Wellness Lottery

  • The Walt Disney Company

  • Sociedad Estatal Loterias y Apuestas del Estado SA

  • Maruhan

  • Flutter Entertainment plc.

  • The Hong Kong Jockey Club

  • Tabcorp Holdings Ltd.

  • CJ Corp.

  • Oriental Land Company Ltd.

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The recreation market includes sales of use of recreation facilities, recreation services, and related goods by entities (organizations, sole proprietorships, and partnerships) that provide recreation services. Recreational activities include participating in sports activities and visiting museums, historic sites, zoos and parks, as well as observing sports and spectator events. Games of chance, with the exception of hotel-casinos, can also be considered as part of the leisure market.

The main types of leisure are entertainment, arts and sports. Sports services provide live sporting events before paying audiences or entities that operate golf courses and country clubs, ski facilities, marinas, fitness and recreational sports centers and bowling centers. The different age brackets include 35 and under, 35-54, 55 and over and involve various sources of revenue such as media rights, merchandising, tickets and sponsorship.

Asia-Pacific was the largest region in the leisure market in 2021. Eastern Europe is expected to be the fastest growing region during the forecast period. The regions covered in the leisure market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growth of the leisure market is aided by steady economic growth predicted in many developed and developing countries. The International Monetary Fund (IMF) said global GDP growth was 3.2% in 2019 and 3.5% in 2020. The recovery in commodity prices is further expected to help the market grow. Developed economies are also expected to record steady growth over the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets over the forecast period. For example, India’s GDP grew by 7.2%, while China recorded GDP growth of 6.0% in 2020. Steady economic growth is expected in end-user markets, thus driving the market during the forecast period. This continued economic growth is expected to increase investment in end-user markets and drive the leisure market as greater wealth enables consumers to visit leisure centers.

Amusement parks are increasingly using virtual and augmented reality technology to provide an immersive experience for patrons. Virtual reality is a computer-generated 3D environment that can interact with a person, while augmented reality transforms an environment into a digital interface by placing virtual objects in the real world. Amusement parks are implementing this technology in rides and theater-based attractions. For example, Plopsaland De Panne in De Panne, Belgium has a new virtual reality wooden roller coaster called Heidi The Ride, which can reach speeds of over 43 mph. SeaWorld amusement park has started operating a new Kraken Virtual Reality Roller Coaster in Orlando. The Weave Breaker coaster brings the reality of jet skiing to an amusement park. Universal Studios offers The Walking Dead mazes with augmented reality elements.

For more information on this report, visit https://www.researchandmarkets.com/r/1iyesb

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