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Global Sports Industry Analysis

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The sports business means many different things to different individuals. This is a global industry and sports stir up deep passion within spectators and players alike in countries around the world. For a person, sports are a venue for gambling to another they are a mode of personal recreation and fitness. To business people sports provide a money-spinning and continually growing marketplace worthy of huge investment. To athletes sports may lead to high levels of personal achievement and to professionals sports can bring fame and fortune. For the facilities, developers and local governments sports are a way to build revenue from tourists and local fans (Carole Beckford, 2014). Sports are deeply in-built in education since elementary through …show more content…

The sports sector comprises of several segments like sports tourism, sports apparel, sporting goods (manufacturing and retail), amateur and professional sports, high school and college athletics, outdoor sports, recreational sports, sports businesses such as sports marketing firms, the sport sponsorship industry and sport governing bodies. A flourishing sports sector usually has a significant socio-economic impact as it is instrumental in improving the physical health and mental agility of a nation’s human resources and in promoting unity and national pride. Sport as an industry contributes to about one to five per cent to the GDPs of various countries. However, due to lack of sports culture in India has delayed the formation of a similar industry in the country despite growing awareness, interest and successes in various non-cricket sports like archery, boxing, chess, badminton, hockey, tennis, billiards, snooker shooting and wrestling at prominent international competitions. Because of lack of industry status and lack of sports culture, corporate investment in sports in India has traditionally been limited to CSR initiatives. The international and domestic examples have shown that the investment in sports has high potential tangible return …show more content…

Kearney study (2009), today's global sports industry is worth between €350 billion and €450 billion ($480-$620 billion) which includes infrastructure construction, sporting goods, and licensed products. The sports industry today spans the field of play—from the food and memorabilia stands at the stadium, to the media rights and sponsorships. The participants in this market are competing for a bigger slice of a pie worth as much as €450 billion (A.T. Kearney,

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