Incidence of sport on economic growth in Colombia
DOI:
https://doi.org/10.47197/retos.v51.101042Keywords:
Sport, exogenous economic growth, endogenous economic growth, investment, educationAbstract
The relationship between sport and economic growth refers to the effects that sporting activity has on the economy and goes beyond the participation of athletes and other actors. Sport has a significant impact on the economy through various avenues. The objective of this research is to demonstrate the incidence that sport has on economic growth, mainly in Colombia. The methodology is based on bibliometric analysis and economic variables generated by the sports industry such as: employment generation, investment, entertainment industry and the media, health and well-being, marketing and promotion and local economic stimulus, sports education. As main results, it has been possible to verify that this positive relationship between sport and economic growth is evident since it creates business opportunities and generates income for both the organizers and the companies that participate in the commercialization of these products, although they are not fully exploited. Data analysis reveals a positive investment balance in companies in the sports sector in Colombia, indicating confidence in the market; however, negative investment income suggests that companies have not achieved the income expected by foreign investors.
Keywords: Sport, exogenous economic growth, endogenous economic growth, investment and education.
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