The yearly production value of sports activities, amusement, and recreation activities in Spain experienced a significant trajectory, with fluctuations noted especially around global disruptions. The sector showed steady growth from 2013 at €14.07 billion, peaking at €18.41 billion in 2019 before a drastic decline in 2020 to €7.54 billion due to the pandemic. A robust recovery was evident with a 130.02% increase in 2021, reaching €17.34 billion and continuing to rise, achieving €20.08 billion in 2023.
Over the last two years, the sector observed a 13.49% rise in 2022 followed by a moderate increase of 2.05% in 2023. The Compound Annual Growth Rate (CAGR) for the past five years stood at 2.25%, showcasing a resilient recovery post-pandemic. The forecast indicates a continued growth trajectory with a CAGR of 1.61% and an overall 5-year growth rate of 8.29%, projecting the market to €22.08 billion by 2028.
Future Trends to Watch For:
- Innovation in digital and virtual recreational activities.
- Increased investment in sustainable and eco-friendly sports facilities.
- Growing emphasis on wellness and fitness activities.
- Potential impacts of economic fluctuations and policy changes on consumer spending.
- The role of global events, such as the Olympics, in influencing local market dynamics.
