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Pаper 2 - Questiоn 1Reаd the Cаse study and answer all questiоns belоw: Changes in the racket sport marketChanges in the racket sport market Padel or Padel tennis is a sport that can boast celebrity players such as David Beckham, Jurgen Klopp, and Serena Williams. A sport that seven-time Wimbledon champion Novak Djokovic thinks is a threat to tennis. [Paragraph 1] It is believed that Padel was invented in Mexico in 1969 by Enrique Corcuera, who modified his squash court to incorporate elements of tennis. The first courts were concrete construction, but glass walls and astroturf playing surfaces over time replaced the concrete. The game is a mixture of tennis and squash using a tennis-style ball and a racket similar to an oversized table tennis bat. [Paragraph 2] There are around 50,000 padel courts globally, which is expected to rise by 25 per cent next year. There are currently 30 million players worldwide, which is catching up on the 87 million people who play tennis. [Paragraph 3] Padel is seen as easier to pick up than other racket sports. It has a smaller court, and the player can play the ball off walls, which makes it more accessible for beginners. The game is also seen as less physically demanding than tennis and squash, making it more accessible to people of different ages and fitness levels. Because it is more accessible, padel is a sport that is appealing to older people, and with an ageing population in many countries, this could be a factor behind its growth. Padel’s appeal can be seen in the social nature of the sport. It is normally played in a doubles format, so it involves four players, which makes it perhaps more inclusive than tennis and squash. [Paragraph 4] Another reason for the growth of Padel is its relatively low-cost activity in terms of the equipment needed to play it, and the price of this equipment has fallen over the last two years, as shown in Table 1. However, the Padel courts can be quite expensive to rent. It is interesting to look at Padel as a ‘craze’ activity with players attracted to the sport because so many people are playing it, and this turns consumer tastes and preferences in favour of Padel. [Paragraph 5] The growth of Padel brings significant market opportunities for entrepreneurs. If more people play the sport, then they will want to buy rackets, balls, clothing, and court time. The profitable opportunities Padel represents for businesses will draw more resources into this part of the leisure market. One factor holding this up in countries is the rate at which Padel courts can be built. [Paragraph 6] As a sporting leisure activity, the growth of Padel can bring social benefits to a country’s population if the total number of people involved in active leisure increases because more people are playing Padel. People could be fitter and healthier. [Paragraph 7] Table 1 shows data for the Padel market in the US(estimated).