Sport Shine Through Despite Recession
Wednesday, January 14, 2009 19:17
The financial crisis has affected every industry sector of business and sport is no exception. The sports industry has also suffered from great loss in profits and revenue of investment as a result.
For example, transfer spending in the Premier League and Football League has soared in recent months due to the credit crunch. Besides, turmoil in the world’s financial markets is making it difficult to secure private sector funding for the Olympic Village and media centre.
However, despite of the impact of global financial downturn,various sports activities still keep shining through the tough time of market downturn. At the other hand, the sport sector also benefits from the recession. Because people now have greatly changed their lifestyle, entertaining more at home instead of going out clubbing in order to save money. TV sports program and on-line sport program are becoming increasingly popular these days. According to some analysis from experts in the field, the sports market is to weather the current credit crunch and is set to experience an annual growth of 9% til 2012.
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