The Growing Relationship Between Business and Sports Tourism

At Corinthian Sports, we have always been at the forefront of delivering exceptional corporate hospitality across some of the world’s most prestigious events, including Formula 1?, Royal Ascot, and the Guinness Six Nations. As the global landscape of sports tourism continues to evolve, it's clear that this rapidly growing sector offers significant opportunities for businesses like ours. In this blog, we’ll explore the remarkable rise of sports tourism and how businesses can leverage this booming market to maximize growth.

Sports Tourism: An Industry on the Rise

Sports tourism is one of the fastest-growing sectors in the travel industry. In fact, sports tourism now accounts for around 10% of global tourism expenditure (UNWTO), a figure that’s set to grow at an impressive rate of 17.5% between 2023 and 2030. This rapid growth is being driven by the increasing demand for both major global sporting events and local, niche competitions. The financial opportunities in this sector are enormous for businesses that can tap into it.

The economic impact of sports tourism can be seen in various aspects, from hotel accommodations to local spending on food, travel, and attractions. For example, during the 2024 Super Bowl weekend, hotel room rates in Las Vegas increased by 257% compared to 2023 (STR), marking the largest year-over-year spike for a first-time host city in NFL history.

In Southern Nevada, home to the 172,707 hotel rooms across 393 hotels, the average nightly rate for a room reached an all-time high of $768 from February 9–11, 2024. This kind of spike in demand highlights how major sporting events can drive record revenues for the hospitality industry.

Are Business Missing out on a Goldmine?

The growing prominence of sports tourism presents multiple avenues for businesses to expand. Whether it’s providing exclusive access for VIPs at events, securing high-end accommodations, or offering customized hospitality experiences, there’s significant potential for growth. Sports tourism offers businesses the chance to engage a global audience that is willing to spend more and stay longer. For instance, sports tourists stay an average of 2.9 days longer and spend 20% more per day (Infor) than regular tourists, resulting in a substantial increase in revenue for hotels, restaurants, and local businesses.

The hospitality industry is increasingly aligning with major sports organizations. For example, Accor Hotels secured a major partnership by becoming the official partner of the 2024 Olympic and Paralympic Games in France. Similarly, Hilton sponsors the McLaren Formula 1 Team, while Wyndham sponsors a PGA tournament, showcasing the symbiotic relationship between businesses and the sports industry. These high-profile partnerships not only boost brand visibility but also position businesses as key players in the growing sports tourism market.

The Rise of Niche Markets

While mainstream events like the NFL's Super Bowl, Olympics, and Formula 1? attract large crowds, niche markets within sports tourism are also on the rise. Growing interests in adventure sports and sports wellness retreats are expanding the market’s appeal. These emerging segments cater to travelers seeking specialized experiences, whether for relaxation or thrilling adventure. Additionally, sports like football, with increasing popularity in the Premier League and MLS in the U.S., and cricket, which is beginning to gain visibility in the U.S. market, are contributing to the expansion of sports tourism beyond traditional events.

As businesses in the hospitality industry look to diversify their offerings, these niche markets present exciting new opportunities. Whether catering to adventure seekers or wellness enthusiasts, there’s potential for businesses to tap into a broader range of customers by understanding their unique needs and preferences.

How Technology and Sustainability plays a part in Sports Tourism

As sports tourism continues to evolve, technology is playing a critical role in enhancing the customer experience and improving operational efficiency. For corporate hospitality providers like Corinthian Sports, leveraging technology - from streamlined booking systems to personalized guest services - can help maximize the potential of this booming market. Whether it's implementing a unified system or opting for the best-of-breed solutions, the right technology can help businesses stay competitive while optimizing guest satisfaction.

At the same time, sustainability has become an increasingly important factor for sports tourists. As eco-conscious travelers seek destinations and accommodations with strong environmental credentials, businesses that embrace sustainable practices will stand out in this growing market. By integrating eco-friendly initiatives, businesses can attract environmentally conscious sports tourists and contribute to the growth of responsible, sustainable sports tourism.

Event Tourism and Sports Tourism: A Match Made in Heaven

In addition to sports tourism, event tourism is also seeing tremendous growth, with concerts, cultural festivals, and business events driving local economies. A prime example is Taylor Swift’s concerts, which have generated massive economic benefits for the locations where they’re held. Travelers spend significant amounts on travel-related activities, not just for tickets, but also for accommodation, food, and other local services, proving the power of event-driven tourism.

Other types of events—such as cultural fairs, trade shows, and business conferences—also generate significant tourism dollars. As event tourism grows, it complements the rise of sports tourism, presenting an even broader opportunity for businesses to capitalize on the influx of visitors and the increase in travel-related spending.

The Bottom Line of Sports Tourism

For businesses in the corporate hospitality sector, the rise of sports tourism presents an exciting opportunity to expand services and increase profitability. By capitalizing on the growing demand for high-end accommodations, tailored experiences, and sponsorships surrounding major sports events, businesses like Corinthian Sports can continue to provide exceptional value to clients while tapping into a booming market.

With sports tourism projected to grow at 17.5% annually between 2023 and 2030, and with the increasing demand for niche sports experiences, the future looks incredibly promising for the industry. Now is the time for businesses in the hospitality sector to engage with sports tourism and position themselves to benefit from this ever-growing trend.

How Your Business can Capitalize on Sports Tourism

At Corinthian Sports, we are committed to delivering a seamless and luxurious experience for our clients. To ensure you travel to the world’s biggest events in utmost comfort, Corinthian Sports have partnered with ACC Aviation. With their fleet of private jets, helicopters, and more, ACC Aviation offers tailored travel solutions, ensuring that you and your clients enjoy a truly VIP experience from takeoff to landing. Whether you're heading to Formula 1?, a stand-out Premier League fixture, or any other major sporting event, we make sure your journey is as exceptional as the event itself.

For more information about our VIP sports hospitality packages and our partnership with ACC Aviation, get in touch with us at [email protected]. You can also browse all of our available packages by downloading Corinthian Sports' Calendar of Events here.