Sports sector contributed $2.45 billion to the Dubai economy

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Sheikh Mansoor bin Mohammed bin Rashid Al-Maktoum, the chairman of the Dubai Sports Council, has said that the sports sector contributed $2.45 billion to the Dubai economy in 2021. This was equal to 2.3% of the annual gross domestic product in the emirate.

Sports contributed $2.45 billion to Dubai

According to a report by the Emirates News Agency, the chair said that 105,000 new job opportunities would be created in the growing sector. This could later account for 3.8% of Dubai’s total employment level.

While speaking when chairing a meeting of the DSC board of directors, he credited the buzzing regulatory framework and the solid infrastructure with supporting the growth of the sports sector within the emirates. He also said that the government’s support towards the sector was of utmost priority in Dubai.

Sheikh Mansoor appreciated the significant growth of the sports sector, saying it was instrumental to the rise of Dubai’s annual GDP. He said the sports sector was a significant economic contributor to the emirates.

The official also said that the DSC was keen to measure the growth of the contribution of the sports sector to the economy of Dubai. He added that it had adopted the best international practices and conducted a study in partnership with leading global consultancy firms.

The study also analyzed and measured the economic contribution of the sports sector in multiple areas across the industry, including sports tourism, sports events, and supporting investments in sports training academies, among others.

The sports sector has benefited the position of Dubai as a leading global destination that supports living, working, studying, and investments. Sheikh Mansoor also added that the sports sector offers state-of-the-art facilities to support the efforts made by local and global event organizers that support the sector’s growth.

“The DSC encourages international sports stars and investors to take advantage of Dubai’s world-class facilities to open sports academies and host major world championships and training camps for various clubs, national teams, and champion athletes, as well as to benefit from investment opportunities in its various fields,” Sheikh Mansoor said.

The Sheikh added that these factors supported the sector’s economic contribution. The factors were also increasing the number of employees across various companies.

DSC focus on improving sports

The DSC has paid attention to sports clubs, infrastructure, tourism, and technology. It also seeks to identify the challenges and develop strategies and plans that will support the sector’s future growth.

Those who participated in the meeting also went through the plans behind developing football stadiums in Dubai. It has also tasked authorities to implement plans and strategies depending on an approved timeline.

About Ali Raza PRO INVESTOR

Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Invezz.com, Business2Community, BeinCrypto, and more.