
Impact of Covid-19 and subsequent lockdown on sports industry
Impact of Covid-19 and subsequent lockdown on sports industry
The Coronavirus outbreak has already impacted every element of sport. We want to make sure that the health and safety of everyone involved is protected at all times, so we are recommending the following precautions for this World Cup Period. The global sports market is estimated at US$756 billion annually, with Europe responsible for US$250bn, the USA around US$420bn, and China, as one of the fastest growing markets, making up most of the difference (Smoggi, Value and Industry, 2020). With the last decade’s analysis, the trajectory of the global sport market seemed to be going only upwards. Yet a few years later we had earthquakes in China that damaged many apartment blocks and other buildings. In a few days their GDP was down by billions - these types of events happen all the time whether you call them natural disasters or not.
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