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The Economic Value of Sports on National Development - Research Paper Example

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Sport is also an important aspect in the field of macroeconomics as it associates itself with the economic development of the countries. With the rapid spread of technologically advanced media and…
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The Economic Value of Sports on National Development
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The Economic Value of Sports on National Development

Download file to see previous pages... t can be stated that in the year 2004, the approximated amount of gross domestic sports product in the United States was $213 billion (Walker and Enz, 2012, p. 149). The commercialization is rapid, income generation is solid but one contrary argument is that whether this revenue generation is equally distributed and leads to the national development of a nation in true sense of term as viewed from welfare dimension.
Thesis: Interdependence between economic activities and sports have contributed to the rise in the values of various economic parameters and thus sports imparts a positive economic value to national development.
Sports acts as an aggravator of employment opportunities. The fact that sports provides employment opportunities will be backed by evidences with respect to a mega sporting event in the United States of America and that is American Hockey League (AHL). Even a minor hockey team in Springfield, Massachusetts which is the home to the Springfield Falcons team imparts a positive impact on employment dynamics. Publicity perk is an intangible element which stirs up employment generation with this sport. A team participating in the AHL with 26 other teams certainly enjoys the brand value as well recognition in the surrounding market places. The local media like newspapers, tabloids, sports magazines and advertisement fronts like league standings, banners, and advertising literature and so on vehemently markets the aura of this mega event. The Springfield Falcons have around ten full time employees and during the league matches it hire additional twenty five part time employees for around forty home games on an annual basis. The Mutual Mass Center where the home games are usually played around 130 part time employees are hired for game nights. These part time employees are absorbed as “ice crews, ushers, ticket takers, concession takers, concession workers, scoreboard operators, camera operators, firefighters, police officers, and security ...Download file to see next pagesRead More
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