The Event Tickets market in Portugal has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: In Portugal, there has been a shift in customer preferences towards experiences rather than material possessions. As a result, there is an increasing demand for event tickets, as people seek to attend concerts, sports events, and cultural performances. This trend is not unique to Portugal, but is seen worldwide as consumers prioritize experiences and memories over physical goods.
Trends in the market: One of the key trends in the Event Tickets market in Portugal is the rise of online ticket sales. With the increasing availability of internet access and the convenience of online shopping, more and more people are opting to purchase their event tickets online. This trend is driven by factors such as ease of use, wider selection of tickets, and the ability to compare prices and find the best deals. Online ticket platforms have also made it easier for event organizers to reach a larger audience and sell tickets more efficiently. Another trend in the market is the growing popularity of niche events. While large-scale concerts and sports events continue to attract a significant number of attendees, there is also a demand for smaller, more specialized events. This includes niche music festivals, theater performances, and art exhibitions. These events cater to specific interests and passions, and offer a unique and immersive experience for attendees. This trend is a reflection of the increasing diversity of consumer preferences and the desire for more personalized experiences.
Local special circumstances: Portugal is known for its vibrant cultural scene and rich history, which contributes to the popularity of event tickets in the country. The country hosts a wide range of events throughout the year, including music festivals, sports competitions, and cultural celebrations. These events attract both domestic and international tourists, boosting the demand for event tickets. Additionally, Portugal's mild climate and scenic landscapes make it an attractive destination for outdoor events, such as concerts and sporting events.
Underlying macroeconomic factors: The growth of the Event Tickets market in Portugal is also influenced by underlying macroeconomic factors. Portugal has experienced economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed more people to afford event tickets and participate in cultural and entertainment activities. Furthermore, Portugal's tourism industry has been thriving, with a record number of international visitors in recent years. This influx of tourists has contributed to the demand for event tickets, as visitors seek to experience the country's vibrant cultural scene. In conclusion, the Event Tickets market in Portugal is growing due to changing customer preferences, such as the desire for experiences over material possessions. Online ticket sales and the popularity of niche events are also driving the market. Portugal's vibrant cultural scene, tourism industry, and economic growth are additional factors contributing to the growth of the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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