In recent years, sports tourism has emerged as a popular trend that’s reshaping not just the travel industry but the real estate sector, too. The impact of sports tourism is profound enough that it is increasingly considered by savvy investors when evaluating real estate opportunities.
The allure of investing in properties that are situated in the vicinity of major sports events, or destinations renowned for certain athletic activities, is becoming undeniable.
These destinations offer a unique proposition, blending the thrill of sports with the tangible benefits of property investment, adding a layer of additional value to real estate assets.
What is sports tourism?
Sports tourism, as the name suggests, is characterized by the convergence of travel and sports that can be enjoyed together in one location. The trend has witnessed a notable transformation, fueled by high-profile television documentaries and a burgeoning interest in following a wide array of sports.
The sports tourism destinations of 2024 are shaped by a combination of both one-off and recurring events, ranging from the Paris Olympics and Paralympic Games to Tour de France competition (expanded to Italy this year) and favorable locations for marathons, triathlons, or F1 races.
How is sports tourism shifting the real estate market?
The significance of sports tourism in the real estate industry is multifaceted. For one, properties located in areas that are set to host significant events like the Olympic and Paralympic Games or the Tour de France stand to gain from the heightened demand and visibility brought about by these occasions.
The 2024 Olympic Games in Paris, for instance, are expected to draw in over a million tourists. This has prompted substantial city-wide enhancements, including a €1.4 billion initiative to clean up the Seine. These developments not only boost the local economy but also enhance the appeal and value of nearby real estate.
What’s more, regions that are regular hosts to smaller-scale sporting events like races, marathons, or seasonal activities in mountainous areas, present attractive investment opportunities.
These destinations offer a double advantage for those who are sports aficionados themselves and are considering a second home that can also serve as a rental property. The blend of personal enjoyment with the potential for rental income is a compelling proposition for high-net-worth individuals looking to diversify their investment portfolios.
Where is sports tourism thriving?
Of course, there are certain areas, like Colorado in the USA or San Moritz in Switzerland, that have long since benefitted from the appeal of sports tourism.
But the influence of the emerging sports tourism trend on real estate markets is more obviously evidenced by the anticipatory growth in areas of Milan-Cortina ahead of the Winter Olympics 2026.
Maria Sidelnikova of Florence-based real estate agency Altus Realty, says:
“Although there’s already a significant influx of foreign investment in the Italian real estate market, the future looks even brighter for this European property hub. Cities like Milan, Verona, and Cortina, along with other locations in the 2026 Winter Olympics area, are witnessing a surge in activity. This presents a prime investment opportunity for those considering buying in 2024.”
As this trend continues to evolve, it shows the importance of staying attuned to the global sports calendar and the opportunities it presents for enriching and diversifying real estate portfolios with assets in prime locations and promising growth prospects.
