Market potential for sports economic development
“Sports not only improve health but also create economic value, contribute to GDP. Many countries see this as a fast growing industry, such as smokeless industry ” - Director of Dang Ha Viet Sports - Sports Department shared. In 2022, Statista statistics page evaluated the sports market in Vietnam quite modestly with the expected figure (then) to reach a total revenue of US $ 1.95 million. This page also forecasts that Vietnam's sports market will have a double growth rate (CAGR 2022-2027) of 10.75%, resulting in an estimated market volume of US $ 3.60 million by 2027 in 2027. . These figures are for reference, helping people do the sports economy to add angle to compare.
The need to practice, play sports and view sports programs, use services and sports products of Vietnamese people is very large based on the ratio of population distribution density in provinces and cities.
At the Vietnam Sports Economic Forum held in 2024, the number was given that Vietnam's sports economic market was worth no less than 300 million USD. Certification from Meric Market Research Company said that in the third quarter of 2024, the market of Pickleball in Vietnam developed the "hottest". Statistics from 5 e -commerce floors (from June to September 2024) said that 150,000 products for Pickleball were successfully traded (worth more than 22.7 billion VND). This is a record number recorded, showing great economic value that sports bring.
The Politburo issued conclusions No. 70-KL/TW (January 31, 2024) on physical development and sports in the new period. In particular, one of the key tasks set out is: “Enhancing resources for physical training and sports. Reviewing the completion of planning, developing a system of synchronous sports facilities, step by step modern and up to international standards. Prioritize investment in a number of key establishments on high quality training and training; modernize training centers, training institutions, fostering athletes, scientific research and sports medicine.
Find specific ways
In December 2024, the decision to issue a plan to implement conclusions No. 70-KL/TW of January 31, 2024 of the Politburo on physical training and sports development in the new phase was issued.
Regarding socialization, sports economy, one content is specifically indicated: “Urgently review, amend and supplement mechanisms and policies on investment attraction and network development of networks institutions, physical and sports infrastructure; Completing the legal framework of sports economy, public -private cooperation, management and exploitation of copyrights, funding activities, advertising, promoting socialization in the field of physical training and sports ”.
Director of the Department of Gymnastics and Sports Dang Ha Viet said that in 2025, the industry expects the sports economy to create many resources through highly branded and high -value sports activities.
Based on the projects and plans that have been built and put into practice, people are waiting for managers to best implement each goal.
