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SGB Sporting Goods Business
First Words S
port England has reported that sport’s annual contribution to the English economy had reached £16.67 billion in 2008, representing a ‘real terms’ rise of 140% since 1985, and accounting for 2.3% of overall consumer spending.
The figures come from Sport England’s recently published report, ‘The Economic Value of Sport in England’, published in collaboration with the
Sport Industry Research Centre at Sheffield Hallam University. The report has not seemed to attract much media attention, but may be of interest to members of the sport retail trade.
The report also calculates that sports-related consumer spending in England in 2008 was £17.38 billion, up 138% since 1985.
“The growing number of people playing sport is driving up the sector’s economic value,” says Richard Lewis, Chair of Sport England, “as well as fostering skills such as leadership and teamwork, that will help the nation’s businesses to emerge strongly from the current financial climate.”
Sport England claims that its report illustrates a “resilience” in the sports trade, which is clearly being boosted by the fast-approaching London Olympics in 2012, and that more people are considering sports participation as a basic need, rather than a luxury.
A lot of retailers and brands alike may feel that not enough of that £17.38 billion of consumer spend went their way in 2008! But such figures are reason for optimism going forward at the very least. If the economy at large can recover – and we know any recovery will be slow - and with the Olympics on the horizon, growth in the sports retail sector must follow.
Robin Barwick, Editor SGB Sporting Goods Business
www.sgb-sports.com The partnership voice for the trade
SGB Sports and Outdooris the UK member of the European Sports Trade Publishing Group, a co-operative of leading business magazines. ESPG partners exchange news and publish Sports Retail Europe, the only pan-European sports trade magazine – free to SGB Sports and Outdoorsubscribers. ESPG members include SAZ (Germany), SPORTeco (France), cmd (Spain), Sportfack! (Sweden) and Sportimyyja (Finland).
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SGB
Sporting Goods Business w w w . s g b - s p o r t s . c o m
October 2010
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