The Current Scale and the Economic Importance of the Sports Industry

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The Current Scale and the Economic Importance of the Sports Industry Over 100 years ago the scale of the sports industry has increased gradually. Not all sports have followed in the same path or footsteps. A slow increasing level of control has been affecting the sports industry since 1960Â’s. Mainly standardisation and commodification of sport. More money has been put into the industry equivalent with the efforts that the sports organisations have put in, to increase their potential at the professional end of the scale, and the voluntary end they remain sustainable. The sports industry is a very big business that contributes great amounts to the economy in terms of turnover, taxes and jobs. The sports industry has an economic cycle. So it depends on different parts of the year to hold big events. The benefits to be gained are that local communities as suppliers of services and goods obtain increased business. When the world cup was hosted by Japan it brought in a big influx of foreign currency, tourists and additional spending on goods and services. Large sport events such as Wimbledon or the European championship has a similar effect as a multiplier effect. The economic situation of British football has changed massively in the last ten years: what was a hugely under-capitalised industry at the end of the 1980s (that operated on very tight margins and often had to endure enormous losses) has been transformed into a multi-million pound business where the maximisation of revenue and profit are key strategic objectives for clubs and associations alike. ( There has been a rapid growth in professional footballers since 1986 accompanied by a significant increase in player employment turnover There are a number of employment opportunities available to those on the football programmes. These include coaching in the community, club secretaries, retail managers, web designers and managers, marketing managers and coaches. Participation at a local level is on the up. Consistently top of the

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