Coronavirus (Covid-19) Pandemic Impact on Global Sports Industry

13 April 2020
Sport Goods Global Trade Data

The Coronavirus (Covid-19) pandemic at the beginning of 2020 hit the sports industry globally hard. Many professional leagues across the world suspended their seasons and numerous events were cancelled. As a result, there is a huge loss to the industry and to trade of sports goods. According to Export Genius trade data, total sports goods and equipment valued US$ 119.0 billion shipped in 2018 and US$ 124.5 billion imported around the world. Let’s have a look at estimated loss of revenue on various sporting events due to coronavirus outbreak.


According to analysis reports, the global sports market moves US$ 756 billion annually. This is the direct value moved by industry, in which the United States of America is responsible for US$ 420 billion and Europe for another US$ 250 billion.


China is the fastest growing market in global sport, makes about US$ 150 billion annually and projected its sports industry to reach revenues of US$ 350 billion over five years. However, the picture would be different in 2020 as all sports events have been either cancelled or postpones due to coronavirus pandemic.


Sport-wise Potential Revenue Loss due to Coronavirus (Covid-19) Pandemic


Sport

Event

Status

Potential Revenue Loss

Basketball

National Basketball Association 2020

Suspended

350 to 450 million U.S. dollars

Basketball

March Madness 2020

Cancelled

93 million U.S. dollars

Multiple Games

The Olympics

Cancelled

277 million U.S. dollars

Soccer

US Soccer

Cancelled

200 thousand U.S. dollars

Soccer

Euro 2020

Postponed

400 million euros

Soccer

European Football Leagues

Postponed

800 million euros

Formula 1

Formula 1 Group 2020

Cancelled

602 million U.S. dollars

Cricket

Indian Premier League 2020

Deferred until 15th April 2020

INR 10,000 crore (if called off)

Other Sport

NCAA Events 2020

Cancelled

100 million U.S. dollars

Other Sport

NHL Events 2020

Suspended

1.31 million U.S. dollars

Other Sport

WWE 2020

Held without Fans

125.6 million U.S. dollars


Professional sport, although not the main source of revenue, is undoubtedly the one that most impacts the production chain, with its sponsorships, match-day revenues, players’ transfers, TV rights and its high media & employment character. And so obvious it’s indirect and induced impacts. Thus, a match with closed gates, the cancellation of competitions or calendar changes, directly impacts the entire sports industry due to Covid-19.


Is this article helpful. Share with others!   

Add Comments


Request a Demo close modal

Get global trade data online at your fingertips!

Copyright © 2021 Export Genius. All rights reserved
//