MALAYSIA - The Sports Industry Year 2011/2012 programme will be at the forefront of the government's plan to turn the nation's sports industry into a lucrative one.
The year-long campaign, which started yesterday, will end next year just before the 2012 Olympic Games in London, beginning on July 27.
Turning sports into a money-spinner
THE sports industry here can no longer be ignored as a major contributor to the nation's economy.
That's why the government is embarking on a mission to turn it into a money-making machine in the hope of it being a major contributor to the Gross National Income (GNI) by 2020.
"We believe in the importance and potential of sports as an industry. We are embarking on a number of initiatives to make this a reality and to turn Malaysia’s sports industry as a major contributor to GNI," said Youth and Sports Minister Datuk Seri Ahmad Shabery Cheek in his keynote address at the launch of the Sports Industry Year 2011/2012 here yesterday.
"This, in turn, will help fulfill the government's Economic Transformation Programme (ETP) target of a high-income nation by 2020."
He said Malaysia’s sports industry contributed RM30.2 billion towards the nation’s GNI – five per cent below the total Gross Domestic Product (GDP) that year.
He also said in the last two weeks when English Premier League (EPL) teams Arsenal, Liverpool and Chelsea, brought in by ProEvents International Sdn Bhd., as part of their pre-EPL season tour, played exhibitions here against Malaysian Selections had somewhat displayed how sports can become a major economic contributor.
"A total of 234,000 tickets were sold for those three matches at Bukit Jalil Stadium here. Assuming that each football fan spent RM200 on tickets, food, merchandise and transportation, around RM50 million of economic value was generated," said Ahmad Shabery.