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How Sports Affect a Country’s Economy for the Better

Tuesday, November 24, 2020 17:38

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Countries that host the Olympic Games often see a huge boom in their economy

There is no doubt that sports have a way of bringing people together. The fandom and excitement they bring permeate many places around the world. However, have you ever considered the positive impact that sports have on a country’s overall economic standing? The truth is that the sports industry is one that greatly influences more aspects of our lives than we can imagine. Let’s take a look at just a few of the ways we benefit from a world filled with sports.

Sports Creates New Jobs

One of the biggest factors of economic growth is the steady creation of jobs. Industries that can provide employment for large sections of a country’s population are hugely beneficial to the people and places where they reside. When it comes to sports, there is no doubt that many locations throughout the world are profiting from the jobs that this large sector provides. Just think about it for a second. Your favorite sporting leagues, teams, or clubs needs thousands of people working behind them to ensure their success. In fact, according to expert statistics, as of 2019 more than 1.3 million people in the U.K. are employed in sports-related sectors, a number that is rising continuously.

Even though professional athletes may have some of the highest salaries, they make up a small percentage of the sports workforce. Consider the factors that make the world of sports so entertaining and enjoyable. Live play-by-play commentators, sports marketers, event coordinators, coaches, referees, and more are all professions whose jobs revolve around the industry. The crazy part is that these employees don’t even penetrate the commercial aspect of sports. Employees must also run sports retail and merchandising stores, interacting with fans and keeping the industry’s momentum high.

Sports have also brought online wagering sites to the forefront giving sports lovers the chance to interact even more by providing betting tips from top analysts for the main sports leagues around the world. The growing industry has also provided more opportunities for employment, implementing live updates in their apps so users can get the most accurate data. These “behind-the-scenes” sports jobs are ones that most people don’t think about, however, without the right people to make them run smoothly, the industry would undoubtedly suffer.

Sports fandom influences people to exercise because fans want to be like the great athletes they look up to

Sports Promotes Tourism

Aside from creating more job opportunities in society, sports also bring tourism to many places around the world. Of course, huge global sporting events such as the World Cup and the Olympics normally generate millions of dollars in revenue as well as visitors. However, it’s not just the biggest competitions in sport that make an economic impact.

Sports tourism that involves traveling with the intention of being involved with a sporting activity or event is also extremely prevalent in local communities and cities. For example, every year on the first Sunday in November the New York Marathon brings thousands of visitors to the city either to participate in or watch the exciting event. Most notably in 2014, the race generated a record $415 million, boosting tourism and tax revenues. Although this is just one example, as special sporting events continue their traditions year after year, people will continue to travel to see them, pouring money back into that country, city, or town’s economy while benefitting the greater population.

Sports Inspires Healthy Lifestyles

Nowadays, most societies are living in the age of technology. Social media is an important hobby for many people, and with it comes hours of lounging around on the couch, immobile. Sports has never been more important than it is now to encourage people to get moving. In fact, studies show that people who view sports are actually more inspired to exercise their bodies than people who don’t.

Sports encourage a healthy lifestyle, dropping obesity rates all around the world, and lowering the death rate. In fact, less than 20 minutes of daily exercise is all it takes to have a positive impact on your life and people who practice sport already are experiencing the benefits. When a country’s population is happy and healthy and its people can contribute more to its success, everyone benefits in one way or another.

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