SWA Sports President, at #IATF2023, urges African leaders to look to sports as global sports industry revenue is estimated to be $400 billion in 2021
Aisha Shuaibu, Founder and President of SWA Sports, highlighted the global sports industry’s revenue of $400 billion in 2021, emphasizing Africa’s crucial role in revenue generation.
Shuaibu shared these insights during a panel titled “The Business of Sports Masterclass” as part of the IATF2023 activities.
“Every country is striving to increase internally generated revenue, and sports presents a significant opportunity to achieve that goal,” she commented.
Furthermore, Shuaibu highlighted that global sponsorship spending reached about $14 billion in 2021.
She noted that the sports industry in America has created 11.5 million jobs, while Africa, with 1.4 billion people, 60% under 30, could provide more.
Expanding on industry figures, Shuaib revealed that the tech market’s worth is estimated to be $17 billion.
Regarding the revenues of various championships, she mentioned that the English Premier League generated $4.6 billion in the last season, while the NBA and NFL each made over $10 million and $18 billion respectively.
Shuaibu reported that the NCAA’s revenue was around $1 billion, while Formula One’s reached $2.1 billion, and La Liga’s revenue was around $1 billion.
The IATF2023, its third edition, offers businesses access to the African market, a 1.3 billion-strong population with a GDP exceeding $3.5 trillion, created by the African Continental Free Trade Area.