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Impact of COVID-19
Sports hospitality market witnessed a huge dip during the year 2020 with COVID-19 impacting all the industries globally. With no major sports events held this year and most of the world being under lockdown, the sports hospitality market witnessed a significant dip as there weren t enough opportunities for the companies to hold a sporting event for the client without going against the lockdown rules. Furthermore, with businesses being adversely hit by the pandemic, they will seek out to build better relationships after the pandemic ends and thus sports hospitality events are expected to be held a lot more often. Consequently, the market is expected to see a steady growth during the forecast period.