Spanish economy strongly linked to sports industry, new report finds

A report conducted by accounting firm PwC and non-profit organisation Fundación España Activa has uncovered that the Spanish economy is heavily influenced by sports developments in the country.

The report, titled Termómetro del Ecosistema del Deporte en España (Thermometer of the Sports Ecosystem in Spain), investigated the relationship between the local economy and sports, and how the latter affects the industries that surround it.

The findings, which were shared this week with the High Council for Sports (CSD), demonstrated that that the industry contributed 3.3% of the GDP in 2018, which equates to approximately €39.1bn.

In 2018, the sports industry also generated 414k jobs, making up 2.1% of the total number of active jobs in Spain. Spain generated around 30% more jobs than the average in the country and indirect contributions also reached €16.4bn, while the induced impact was €6.9bn.

Patricia Manca, a Partner at PwC Spain focused on Entertainment and Media, commented before the report was signed off: “We are convinced that sports generates a positive impact as a discipline in both the personal and professional development of people, our society and, ultimately, our country.”

Moreover, the data from PwC and Fundación looked in greater detail at the impact that sports have on other sectors that exist because of the activity. Industries such as sports betting, gaming, video games, media, advertising and tourism were listed as gaining the most from sports.

President of the CSD, Irene Lozano, added that “having a sports vision is essential because knowledge has to be important when it comes to decision-making.

“Knowing that sports represents 3.3% of Spain’s GDP and that it generates 414k jobs helps us see that, in times of crisis, there are sectors that have potential. And ours is one of them,” she added.

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