India, Jan. 28 -- Reflecting on the last year's defining moments, it becomes evident that many are rooted in the realm of sports. From global events like the Paris Olympics and UEFA Euro 2024 in Germany to recurring spectacles such as the Tour de France, FIFA World Cup, and weekly Formula 1 and MotoGP Grand Prix races, sports continue to drive travel, tourism, and consumer spending on an unprecedented scale.

The economic significance of sports is staggering. According to the Sports Global Market Report 2024, the global sports market is expected to grow from $480 billion in 2023 to over $500 billion in 2024, reflecting an annual growth rate of 5.6 per cent. Sports tourism, a rapidly expanding segment, is projected to reach $1.33 trillion ...