a How Sports Positively Impact People’s Lives by Alejandro Escarrá Gil | Nov 23, 2020 | Alejandro Escarrá Gil, Sports Management
Whether it’s major league, minor league, varsity, or undergraduate, there are many positive ways that sports can impact peoples’ lives. Economic Impact The sporting industry is a big money-maker. In the “Outlook for the sports market in North America through 2023”, PwC projects a compound annual rate grow of 3.2%, from $71.1 billion in 2018 to $83.1 billion in 2023 in for segments of sport in the US (media rights, ticketing, sponsorship and merchandising). Many people don’t realize that it also benefits smaller communities in a financial way. Tourism will follow fame, whether it’s a small, nostalgic playing field or a giant sports arena. Loyalty to a team and/or specific player like Leo Messi, Virat Kohli or David Ortiz, is high enough to attract fans who will pay for souvenirs and merchandising. In