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16 Aug 2019
Sports sector worth £1.14bn to Welsh economy – outperforming travel and accommodation
BY
Tom Walker
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Consumer spending on sport is led by major events held in Wales each year – including international football matches
The Welsh sports sector has been valued at £1.142bn (gross value added), out-performing a number of industries traditionally considered strong in the country – such as pharmaceuticals, travel, accommodation and textiles. The Economic Importance of Sport in Wales 2016-17 report shows that the sector has grown by 10 per cent since 2010, creating 29,700 sport-related jobs during the 12 month period covered by the report (2016-17).
Published this week, the report – which was commissioned by Sport Wales – also shows that in addition to the direct value, the sports sector contributes £1.182bn in consumer expenditure for the Welsh economy each year.
The spending is led by people attending major events – such as Six Nations rugby games and international football matches at the Principality Stadium in Cardiff. The economic worth of the national stadium alone was estimated at £32m.
"These figures show the impressive impact sport is having on our economy in Wales," said Owen Hathway, head of insights and policy at Sport Wales.
"What really stands out is that even against challenging economic times, sport as an economic vehicle has been growing in importance.
"Since 2010 there has been a 14 per cent increase in sport-related employment, a 14 per cent increase in consumer expenditure on sport and a 10 per cent increase in sport-related GVA."
Brian Davies, director of Elite Performance at Sport Wales, added: "Sport is a big part of our identity as a nation and brings with it a considerable boost for our economy. Despite our size, we host world-class events and we do it well."
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