From football and rugby to cricket, tennis and golf, Britain has a long and impressive sporting history. Today, the UK boasts a booming sports industry that plays a significant role in the economy.
From large-scale sporting events and internationally renowned teams to grassroots clubs and organisations, this is a sector that thrives at all levels. But how much does the sports industry contribute to Britain’s GDP? And how can the UK leverage the global interest in sport?
How much is the UK sports industry worth?
The economic significance of the UK sports industry is undeniable. According to Sport England, sport currently contributes £39 billion to the UK’s economy. While this figure may conjure images of Premiership football matches or the Six Nations, grassroots sport also generates a large proportion of this sum.
For example, recent research revealed that the number of gym memberships in the UK are on the rise. The State of the UK Fitness Industry Report 2023 found that 15.1% of Britons belonged to a gym during the previous 12 months, which represented an increase of 3.9%. It also highlighted a significant growth in market value, which increased by 11.5% between 2022 and 2023.
Away from the gym, this industry also generates revenue via a variety of other sectors. This includes equipment and merchandise, match fees and tickets, streaming services and broadcasting rights, as well as sponsorship, sports tourism and the creation of new jobs.
Continued growth of the UK sports industry
With this large variety of revenue streams, the upward trajectory of the UK sporting industry is set to continue. In particular, there are two areas that could see unprecedented growth: women’s/girls’ sports and large sporting events.
Women’s and girls’ sports
Over the last decade, women’s and girls’ sports have enjoyed a monumental rise in both popularity and revenue. For example, attendance at the 2023 FIFA Women’s World Cup broke records. Almost two million spectators travelled to attend the tournament’s 64 matches, a figure that was 75% higher than the 1.1 million of 2019.
Additionally, this growth has filtered down to grassroots clubs. In 2022, the FA reported a 30% increase in the number of female registered football teams since 2021. The report also found a 17% growth in female affiliated players, a 21% increase in registered referees and a 15% rise in female youth teams.
Large sporting events
Britain is home to some of the world’s most beloved sporting events. This includes the Premier League which is the most popular football league in the world. Additionally, historic sporting events such as Wimbledon and the Grand National continue to attract global audiences each year.
Going forward, the UK government has outlined plans that could see the UK hosting more than 90 sporting events over the next decade. These new sporting events could boost tourism and lead to lucrative international broadcasting deals.
Leveraging a global sporting community
In addition to government plans, technology is also helping to shape the future of the UK sports industry. As Europe’s leader in the sports tech industry, Britain’s advancements in performance data, sensors and tracking are forging the next generation of athletes. Meanwhile, immersive tech such as VR is taking fans closer to the action and connecting a more global audience.
According to Statistica, the global sports sector is predicted to grow from $512 billion in 2023 to $623 billion in 2027. Thanks to government plans and investments in tech, it seems the UK could experience rapid growth during this period.
