PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887004
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887004
The global event tourism market continues its upward trajectory as travelers increasingly seek unique, immersive, and experience-driven journeys. According to the latest assessment, the global event tourism market size reached USD 1,447.40 billion in 2024, driven by rising global mobility, large-scale international events, and strong recovery in business travel and cultural tourism. With expanding investments in event infrastructure and rapid digital transformation across event management platforms, the market is expected to grow further to USD 1,538.30 billion in 2025. By 2032, the market is forecast to reach an impressive USD 2,524.52 billion, registering a CAGR of 7.33% during 2025-2032. In 2024, Europe led the market with a 40.12% share, supported by world-class venues, rich cultural heritage, and early adoption of hybrid and virtual event formats.
Event tourism encompasses travel motivated by events such as sports tournaments, music festivals, trade exhibitions, corporate conferences, cultural fairs, and immersive digital events. Modern travelers-particularly the millennial and Gen Z demographic-are increasingly seeking personalized, meaningful experiences that connect them with local cultures. Major companies such as Accor S.A., Amex GBT, and Lufthansa Group are expanding their reach through strategic partnerships, sponsorships, and global collaborations to enhance event visibility and traveler engagement.
Market Dynamics
Market Drivers
A key driver of the global event tourism market is the growing demand for unique and authentic experiences. Travelers seek interactive and transformative activities that offer cultural immersion and personal value beyond traditional sightseeing. Hybrid events and digital participation have broadened accessibility, allowing global audiences to engage with major events even without physical presence. For instance, in April 2025, the British National Gallery introduced curated art-based event packages that combine heritage, mindfulness, and business engagement-reflecting rising interest in creative, personalized event offerings.
The surge in the MICE (Meetings, Incentives, Conferences, Exhibitions) sector is also accelerating market growth. With the globalization of business operations, companies increasingly rely on cross-border meetings, international exhibitions, and incentive travel programs. Governments and tourism boards are investing heavily in modern convention centers and marketing campaigns. For example, regions such as Rajasthan, Dubai, and Singapore are developing high-capacity MICE hubs to attract global events.
Market Restraints
High costs associated with premium event packages remain a significant restraint. Luxury accommodations, exclusive access passes, and customized travel services elevate prices, reducing accessibility for price-sensitive travelers. As a result, middle- and lower-income groups may opt out of premium event travel, limiting segment growth.
Market Opportunities
The rapid expansion of online booking platforms offers significant growth opportunities. Travelers can now explore customizable event packages, bundled services, and digital add-ons such as AR/VR experiences. For example, EaseMyTrip's EasyVijay initiative utilizes VR/AR technology to provide virtual battlefield tourism experiences, adding innovative layers to traditional travel.
Rising partnerships among event organizers, hospitality brands, and technology firms further enhance market development. Cross-industry collaborations support promotional campaigns, improve event logistics, and expand global reach through hybrid and live-streaming formats.
Market Challenges
In emerging regions, poor infrastructure, limited venue capacity, and inadequate service-quality standards hinder the ability to host large-scale international events. This limits the volume of event tourism and reduces visitor satisfaction, thereby impacting long-term growth prospects.
Segmental Overview
In 2024, the sports tourism segment accounted for 41% of the global share, driven by events such as the Olympics, FIFA World Cup, and Formula One races. The domestic tourism segment is projected to dominate in 2025 with a 65% share, supported by accessibility and lower travel barriers. The physical event segment also holds the largest share and will grow with a CAGR of 7.05%. Meanwhile, online booking channels continue to lead due to convenience and are projected to grow at 8.82% CAGR between 2025-2032.
Europe remains the global leader, with the market reaching USD 580.70 billion in 2024, strengthened by its cultural festivals, trade shows, and global sports events.
North America, projected at USD 0.44 billion in 2025, benefits from high-profile entertainment, sports, and corporate events.
Asia Pacific, set to reach USD 0.33 billion in 2025, is expanding rapidly due to rising disposable incomes and government-backed tourism initiatives.
Other regions, including South America and the Middle East & Africa, are gaining momentum through infrastructure development and increased hosting of international events.
Conclusion
Growing from USD 1,447.40 billion in 2024 to USD 2,524.52 billion by 2032, the event tourism market is evolving into a key pillar of global tourism. Supported by rising cultural participation, technological innovation, and cross-sector partnerships, event tourism is poised to shape the future of global travel through immersive, connected, and transformative experiences.
Segmentation By Event Type
By Tourism Type
By Channel
By Booking Channel
By Region