North America Continue to be Largest Sports Industry Market, Europe Not Too Far Behind
December 9, 2011
Global sports revenues are estimated to grow to $145.3bn (£92.5bn) between now and 2015, growing at an annual rate of 3.7%, according to a new report.
Global professional services firm Price Waterhouse Coopers (PWC) said North America will remain the largest sport industry market during that period. It says an improved economy and rebound in TV advertising will drive growth.
The migration of sports to pay TV, and the resurgence of financial services and motoring companies to sponsorship, will also help, says PWC.
The firm added that after North America, the biggest market will by Europe; followed by the Middle East and Africa, and then Asia.Latin America will remain the smallest market.
Julie Clark, head of PWC’s UK sports practice, said: “North America is still the largest market and growth rates will significantly outpace Asia Pacific and EMEA (Europe Middle East and Africa).
“While the balance of power is shifting to some emerging markets which are hosting mega sports events over the next few years, the growth opportunities in the traditional developed markets are far from over.”
Latin America will have the highest growth rate, says PWC, followed by North America.