Sport and Leisure Industry Economic Contribution

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A report has revealed that the Sports and Leisure industry in the UK has the potential to create up to 440,000 new jobs by 2020.
The report, ‘State of the UK Leisure Industry: A driver for economic growth’ compiled by Business in Sport and Leisure (BISL) and Oliver Wyman suggests that this growing sector could be a huge asset in combating unemployment.
The report outlines for the first time the size, scale and importance of the Leisure Industry to the UK economy, including its role as a large employer. This sector now represents 9% of UK employment and provides over one in five of jobs for the at risk age range of 16-25 year olds, more than Manufacturing, Construction and Financial Services combined.
How to help the process
The report also concluded that some changes were needed to support this important sector, including:
– Appointing a ministerial champion for ‘Leisure’ at Cabinet level
– Reigniting employment amongst young NEETs (Not in Education, Employment or Training) through an employer tax incentive
– Adopting a more balanced fiscal and regulatory regime that reduces the £3.2 billion of extra costs currently holding back the Industry.
Industry Opinion
Industry spokesman and BISL chief executive Dominic Harrison said the industry will create li100,000 new jobs by 2014, providing a much needed boost to the economy. He added that sport and leisure is ‘a powerful industry,’ currently providing ‘over 4 million jobs.. ..contributes some £200bn – over 3 per cent of GDP – to the UK economy.’ This impressive figures have prompted optimism and
Some industry spokespeople have argued that Sport and leisure sector has the capacity to compensate for the job losses taking place in the public sector. This is provided that it is given the freedom to operate without reductive tax regimes and a reduced level of bureaucracy.
The sport and leisure industry remains one of the UK’s key growth areas, with some spokespeople calculating a further 100,000 jobs will be created by 2014.
These actions will assist the Sport and Leisure Industry in becoming a leading force in job creation and a positive addition to the future growth of the UK economy.
For information on how we can provide personalised insurance coverage for a huge range of sport and leisure facilities, contact us on 0161 300 6340, or use our contact form.
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