Cities and nations wager millions to stage sporting events such as a World Cup, the Olympics or the UEFA Champions League Final. In return, cities expect millions more from sponsors, developers and visitors. The estimated size of the global sport industry is $1.7 trillion. Global sponsorship spending grew 4.6% in 2016 to $60.1 billion, according to IEG, a sponsorship consultancy company.
According to the UN World Tourism Organisation, 2016 was the seventh consecutive year of sustained growth following the 2009 global economic and financial crisis. Consequently, 300 million more international tourists travelled the world in 2016 as compared with the pre-crisis record in 2008.
Sport tourism has been defined as a leisure-based tourism that takes people temporarily outside of their home environment to participate in, watch physical activities, or venerate attractions associated with physical activities and sport.
In 2009, sport tourism was defined as a social, economic, and cultural phenomenon arising from the unique interaction of activity, people, and place. Consequently, several activities are associated with sport tourism.