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Things You Need To Know About The Sports Industry

Sports not only boost the youth morale and instil pride among citizens, but also facilitate social and economic development of a nation. The Global Sports Industry is worth US$ 480-620 Billions and is growing faster than the GDP. The global sports media rights market is projected to reach $56.1bn in 2022. India’s medal tally at the quadrennial event - The Olympic Games is a testimony that the Global Sports Industry is on an upswing. In the last decade, India witnessed a significant rise in the participation and success of athletes and sportspersons on many international platforms.

The sports sphere has expanded its boundaries with the rising popularity and success of leagues such as the Indian Premier League (IPL) in Cricket, the Indian Super League (ISL) in Football, Hockey India League, Pro Kabaddi League, etc. IPL as a brand has become nearly five times its value and generated employment opportunities for more than 15,000 people. Along with the existing leagues expanding, sports brands available in the country are also increasing. The Sports Goods Merchandise and Apparel segment provides employment to more than 5,00,000 people. India has hosted some of the biggest international sports tournaments - FIFA U17 World Cup in 2017 and Hockey World Cup in 2018, thus making the best opportunities available for Sports Managers of the country.

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