Discount events and experiences market seen reaching $202.6 billion by 2031

Allied Market Research projects the global discount events and experiences market will more than double to $202.6 billion by 2031 from $77.4 billion in 2021. Growth is tied to online booking, higher disposable income, and rising demand for discounted leisure, travel, and experiential activities.

Why it matters: - The discount events and experiences market is expanding as consumers spend more on leisure, travel, and recreation. - Online ticketing, coupon codes, and social media are making discounted experiences easier to find and book. - The category includes a wide range of services, from spa visits to sporting events, giving platforms multiple ways to capture demand.

What happened: - Allied Market Research said the global discount events and experiences industry was valued at $77.4 billion in 2021. - The market is projected to reach $202.6 billion by 2031, representing a 7.6% compound annual growth rate from 2022 to 2031. - The report covers service types and regions across North America, Europe, Asia-Pacific, and LAMEA. - A sample report is available here.

The details: - The market includes driving, food and drink, spa and beauty, tour and travel, sports, sightseeing, theater and events, arts and crafts, and other experiences. - Companies active in the space include Groupon, Eventbrite, Zoutons, GrabOn, Virgin Experience Days, Activity Superstore, Buyagift, Red Letter Days, GFM ClearComms, Anschutz Entertainment Group, CL Events, Clarion Events Ltd., DRPG Group, and Entertaining Asia. - The report says consumers are increasingly drawn to experiences aligned with personal interests and available at discounted prices. - Around 4.9 billion people had internet access globally at the end of 2021, according to the International Telecommunication Union. - Most internet users access the web through smartphones, and that trend is expected to keep rising. - The report says digital platforms and social media have democratized information and widened access to event and experience offers. - A purchase inquiry is available here.

Between the lines: - The market’s growth depends heavily on digital discovery and booking, which favors platforms that can combine inventory, discounts, and convenience. - Asia-Pacific appears to be the strongest growth region, helped by higher disposable income and demand for adventure and recreational activities. - The COVID-19 shutdown exposed the category’s sensitivity to travel bans, venue closures, and restrictions on public gatherings. - That makes the market more cyclical than many consumer categories, even as long-term demand trends point upward.

What's next: - Allied Market Research expects Asia-Pacific to post the highest regional CAGR at 9.4% from 2022 to 2031. - The region accounted for nearly one-third of global market share in 2021. - North America, Europe, and LAMEA will also remain part of the market’s expansion, but at a slower pace than Asia-Pacific. - Digital booking tools, apps, and social platforms are likely to keep driving market access and transaction volume.

The bottom line: - Discount events and experiences are moving from a niche leisure offer to a broader digital marketplace, with online access and consumer spending trends doing most of the work.