COVID-19 and the financial crisis in the sports sector around the world

The COVID-19 pandemic is not only hugely disrupting the global economy but also virtually bringing the sports sector to its knees. Using a descriptive exploratory study approach, this paper identifies the challenges for the sports industry caused by COVID-19. The findings revealed that COVID-19 has...

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Bibliographic Details
Published in:	Sport in society Vol. 26; no. 1; pp. 154 - 167
Main Authors:	Alam, Md. Mahmudul, Abdurraheem, Ibraheem Ishola
Format:	Journal Article
Language:	English
Published:	Abingdon Routledge 02-01-2023 Taylor & Francis Ltd
Subjects:	Cost of living COVID-19 Economic crisis financial crisis Global economy pandemic Pandemics Sports sports fitness Unemployment Well being
Online Access:	Get full text
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Summary:	The COVID-19 pandemic is not only hugely disrupting the global economy but also virtually bringing the sports sector to its knees. Using a descriptive exploratory study approach, this paper identifies the challenges for the sports industry caused by COVID-19. The findings revealed that COVID-19 has led to shortfalls in revenue, loss of jobs and subsequently high unemployment levels, downturn in standards of living, people's fitness and general wellbeing, and rises in the cost of living. This study provides policy recommendations to sporting authorities and related bodies to adapt to this situation and find ways to overcome the serious problems created by the pandemic.
ISSN:	1743-0437 1743-0445
DOI:	10.1080/17430437.2021.1979964