Sports business: a sector worth 2.3 billion dirhams
Sports

Sports business: a sector worth 2.3 billion dirhams

According to a study by strategy consulting firm AT Kearney (based in Chicago), the global sports market generates up to $700 billion per year, or nearly 1% of global GDP, with an average annual growth rate of 4%.

In Morocco, the trend is taking hold. “Since His Majesty’s speech on 24 October 2008 on the occasion of the sports conference, we have witnessed a real leverage effect in this ecosystem in Morocco. Let us remember that it is following this royal vision that several programs saw the light of day, especially the national sports strategy 2008-2020. This is the result of the royal impulse which aims to make sport a strong lever for human development, inclusion and social cohesion. says the magazine Challenge.

Sports provide significant financial opportunities. According to a study carried out by the Moroccan Federation of Sportsmen (FMPS) in collaboration with the federal agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and the consulting firm IN&Sport, in 2021 the private sports sector alone represented 1.16% of Morocco’s GDP. Whether in stores or online, the sports trade generates 2.33 billion dirhams (210 million euros) in the same period.

In one of its studies, IMIST (Moroccan Institute for Scientific and Technical Information) has also looked at the economic benefits of diplomacy through football in Africa. “The opening of sports facilities for African and European clubs, which seek concentration courses during the preparation of the new season, mid-season or during the organization of national cup finals, are opportunities to replenish money in foreign currency. Moreover, the presence of foreign teams in Morocco automatically generates the mobilization of several service providers, especially travel agencies for ticketing, hotels, transport, land rental, etc. explain Challenge.

In 2022, the budget of the Moroccan Ministry of Sports amounted to 2 billion dirhams, a system also deployed to support sports diplomacy. In recent years, through this diplomacy, Morocco has been able to develop influence in an institution such as CAF. To expand its sporting soft power, the country has relaunched its investment in the quality of its infrastructure – stadiums, hotels, transport, communications – to establish itself as a key player on the continent.

The fact remains that the number of people registered in clubs does not exceed one million, with a number of licensees of 334,700 in 2020. A reality that points to the importance of other determinants for this economy, namely the weight of sport in our school and university system, the performance level of our sports elites , the availability of sports infrastructure and supervision, organization of working hours and education and training…”, we read again.

Of Lamia El Ouali

02/12/2024 at 22:30

Hi, I’m laayouni2023