A new study by A.T. Kearney revealed that the sports industry "is expanding globally at a rate higher than GDP growth," according to the SAUDI GAZETTE. In the Middle East, there "is significant appetite for hosting international sports events and securing media rights and sponsorships." A.T. Kearney Middle East Principal Nicolas Sultan said, “The sports sector has witnessed substantial growth in the region, and is progressively becoming a major driver for economic development and investment in infrastructure in the GCC [Gulf Cooperation Council], as well as being leveraged for branding of nations along with the global events hosted here." Doha GOALS Exec Dir Sheikh Faisal bin Mubarak Al Thani said, "Job creation and economic opportunity are two of the foundations of Doha GOALS. More than just stadium and facilities construction, sport presents huge potential for nations to generate earning power for themselves and their citizens." However, the study noted that "winning in the sports business demands innovation and excellence -- much as it does in the sports field." Industry players "are ready to tap into this growth to increase profit, enhance brand value as well as drive economic development." Long-term prospects are strong -- "the revenues for yearly events are growing steadily," from $58B in '09 to $75B in '13 and $80B in '14. When "you add in sporting goods, apparel, equipment, and health and fitness spending," the sports industry generates as much as $700B yearly, or 1% of global GDP. Growth occurred across all types of sport, with European football "remaining the clear leader." Media rights and sponsorships "are among the main drivers for revenues." Sponsorships and media rights each accounted for 35% of sports event revenues in '13, and ticketing accounted for 27% of revenues (SAUDI GAZETTE, 11/8).
