Sport Climbing at the Paris Olympics 2024

Sport climbing’s inclusion in the Paris 2024 Olympics marks a pivotal moment for the industry, blending athleticism with growing commercial opportunities. Since its Olympic debut in Tokyo 2020, the sport has seen a surge in global interest, investment, and market growth. This article examines sport climbing’s market value, the Olympics’ impact on its investment landscape, and what to expect as the sport heads toward the Los Angeles 2028 Games.

The sport climbing industry is set for strong growth over the next five years, driven by rising participation, expanding facilities, and increased commercial interest.
The global climbing gym market alone is expected to grow from $4.6 billion in 2023 to $6.8 billion by 2028, with equipment sales also rising steadily. Boosted by Olympic exposure and growing digital engagement, sponsorship and media revenues are forecast to increase by up to 12% annually, reflecting climbing’s expanding global appeal and commercial potential.

What Are the Sport’s Market Values?

The global sport climbing industry has seen notable growth in recent years, propelled by rising participation rates and increasing commercial interest. In 2023, the global climbing gym market was valued at approximately USD 2.8 billion and is projected to nearly double to USD 6.1 billion by 2032. This growth corresponds to a compound annual growth rate (CAGR) of 9.3%, reflecting the rapid expansion of indoor climbing facilities worldwide.

In the United States alone, the number of climbing gyms rose from 353 in 2014 to 622 by the end of 2023, representing a 76% increase over less than a decade. This surge in facilities is mirrored across other regions such as Europe and Asia, where climbing gyms have become increasingly popular urban fitness and recreation centres.

Alongside the expansion of climbing gyms, the global market for climbing equipment also continues to grow. Valued at USD 1.41 billion in 2024, the climbing gear market is expected to reach USD 3.77 billion by 2033, with a CAGR of 11.54%. This market encompasses a wide range of products including harnesses, specialized climbing apparel, ropes, belay devices, carabiners, and protective gear. Major brands such as Petzl, Black Diamond, and The North Face remain key players, investing in product development and marketing to capitalize on climbing’s rising appeal.

The demographic composition of the sport climbing community further drives market growth. Over 60% of climbers fall within the 18 to 35 age group, highlighting its strong appeal to millennials and Generation Z. This younger audience supports increased demand not only for climbing-related equipment and gym memberships but also for content, sponsorships, and lifestyle products associated with the sport. Brands targeting these demographics benefit from climbing’s status as an active, adventure-oriented lifestyle choice.

The Role of the Olympics on Sport Climbing’s Investment

The inclusion of sport climbing in the Olympic programme has been a game changer for investment and visibility. The IOC’s decision in 2015 led to a significant influx of sponsorship, government funding, and media rights deals. Between 2019 and 2023, IFSC reported a 40% increase in sponsorship revenue, boosted by partnerships with global brands and media platforms.

Olympic exposure has also increased grassroots funding. Many national sports agencies have raised budgets for athlete development and infrastructure, recognising climbing’s medal potential and broad appeal. For example, the US Climbing team’s funding increased exponentially according to multiple financial reports from the US National Climbing Federation  between 2018 and 2022, allowing for enhanced training and international competition support.

Media coverage during the Tokyo and Paris Games generated millions of streaming views worldwide, attracting advertisers seeking engaged, young audiences. Digital platforms now regularly broadcast climbing events, and social media engagement around the sport has grown by over 50% since 2020, reflecting climbing’s expanded fan base.

What to Expect from Sport Climbing and the Next Olympics at Los Angeles

Looking ahead to the Los Angeles 2028 Olympics, sport climbing’s commercial and competitive landscape is poised for further growth. The International Federation of Sport Climbing continues to refine competition formats, separating speed climbing and combining lead and bouldering events to increase athlete specialisation and spectator appeal.

Market forecasts predict the climbing gym industry will surpass $6 billion globally by 2028, with new gyms opening in emerging markets such as Latin America and Southeast Asia. This expansion will further diversify the sport’s participant base and increase consumer spending on equipment and apparel.

Sponsorship deals are expected to deepen, with tech companies, lifestyle brands, and streaming services showing increased interest. The youthful demographic and the sport’s urban-friendly settings make it a valuable platform for targeted marketing campaigns.

Athlete endorsements and brand collaborations will also grow. As more climbers become household names, their influence will drive product sales and fan engagement. Investment in youth development and accessibility initiatives will help maintain climbing’s upward trajectory.