The total economic impact of the sports sector in the Valencian Community amounts to 1,954 million euros of income, which represents 1.88% of the regional GDP, according to a study prepared by the Valencian Institute of Economic Research (Ivie) and commissioned by the Generalitat Valenciana to assess the impact of the sports industry in the region.
According to the results of the study presented this Monday, the sector allows the creation or maintenance of a total of 66,413 full-time equivalent jobs, a figure that represents 3.36% of employment of the Valencian Community.
He private sectorwhich mainly includes companies, but also individuals and the media, is responsible 74% of the impact on income and 81.6% of job creation. For its part, the sports education system contributes another 15.4% of the economic impact in income and 12.4% of employment, while the public sector generates 7.6% of income and 4.1% of employment. . Non-profit entities contribute 3% of income and the remaining 1.9% of employment.
By branches of activity, and in terms of GDP generation, the impact that sport generates in business activities and real estate services, accounting for 31.5% of total income. It is followed by hospitality (15.6%) and commerce (12%). In the case of employment, the commerce sector is the one that concentrates the highest percentage of the total impact (23.6%), followed by hospitality (19.3%) and business and real estate activities (12.9%). The concentration of impacts in hospitality and commerce may draw attention, but it must be taken into account that of the expenditure moved by the sports sector, most of it materializes in salaries and wages, which are largely used to consume part of the homes.
More spending than the Spanish average
In addition to measuring the economic impact and weight of sport in the Valencian economy, the study quantifies the spending on sport by households and public administrations, comparing the case of the Valencian Community with the rest of the regions. Valencians spent a total of 706.3 million euros on sports goods and services in 2022which represents 11.5% of total national spending. Each home in the Community allocated 340.4 euros on average for sports activities, 5.6% more than the national averagelocated at 322.2 euros. Per person, private spending on sport amounts to 139.6 euros, compared to 130.4 euros for Spain as a whole.
Regarding public spending on sports, public administrations allocated 321.3 million euros to sports activities in Valencia in 2022, 9.4% of the national total. Local entities contributed 89.9% of this expense, while the remaining 10.1% came from the regional administration. Per inhabitant, this public spending in the Valencian Community is 12.8% lower than the national average.
Total spending on sport, adding that of households and public administrations, amounted to 1,027.6 million euros, the fourth highest value behind Andalusia, Catalonia and Madrid. However, if the expenditure per inhabitant is calculated, the figure stands at 203.1 euros, similar to the national average of 203.2 euros.
The business sector
The report quantifies in autonomy a total of 4,728 companies that are part of the sports industry in 2023, 1.3% of the total companies in the region. 82% of these companies are dedicated to sports activities management (sports facilities, sports clubs and gyms). Next in importance is the sector of retail trade of sporting goodswith 482 companies, and sports and recreational education activities (343 companies).
Of the total of 41,180 sports companies registered in Spain, Valencian companies represent 11.5% of the total.
#Sport #generates #impact #million #GDP #Valencian #Community
