CAIRO - 14 November 2023: The global sports industry revenue in 2021 reached approximately $600 billion, according to Founder and President of SWA Sports, Aisha Shuaibu.
Shuaibu shared these insights during a panel titled "The Business of Sports Masterclass" as part of the IATF2023 activities, emphasizing that revenue generation is a crucial factor for Africa.
"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 pointed out that the sports business in America alone created 11.5 million jobs and questioned what the entire continent of Africa, with its population of 1.4 billion people, 60 percent of whom are under 30, can provide.
Expanding on industry figures, Shuaibu noted that the tech market's worth stood at $17 billion.
Regarding the revenues of various championships, she mentioned that the English Premier League generated about $4.6 billion in the last season, the NBA made just over $10 million, and the NFL achieved over $18 billion.
Shuaibu added that the NCAA's revenue was approximately $1 billion, Formula One reached about $2.1 billion, and La Liga recorded about $1 billion.
The IATF2023, in its third edition, provides a platform for businesses to access an integrated African market of over 1.3 billion people, with a GDP exceeding $3.5 trillion created under the African Continental Free Trade Area, according to the African Union.
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