Indonesia is seeking to turn its rapidly expanding sports industry into a stronger engine of economic growth, with the sector estimated to be worth around US$521 billion globally and growing by about 8 per cent a year, according to government officials.
Investment and Downstreaming Minister Rosan Perkasa Roeslani said the development of the sports economy could generate benefits well beyond sporting events themselves, supporting tourism and a wider range of related industries.
“The sports industry has enormous potential and can bring this economic sector to a higher level. The impact is not limited to the cities hosting such activities but extends to the economy as a whole, including tourism and other industries,” Roeslani said.
The government is strengthening cooperation between the investment and sports authorities to expand opportunities for investment across Indonesia’s sports sector. The two sides signed a memorandum of understanding covering risk-based business licensing and investment development.
The agreement is intended to simplify regulatory procedures while creating a more favourable environment for investment in sports-related activities and infrastructure, as reported by
ANTARA.
Youth and Sports Minister Erick Thohir said the economic value of sport is continuing to expand, creating opportunities for Indonesia to develop the industry alongside related sectors, particularly sports tourism.
“The sports industry is worth around US$521 billion and is growing 8 per cent annually, higher than the economic growth of many countries. That does not yet include sports tourism, which is worth nearly US$600 billion and is also growing significantly,” Thohir said.
The government’s approach links sports investment with a broader economic ecosystem that can include tourism, hospitality, transport, infrastructure and other services associated with sporting events and participation.
Officials expect improved licensing procedures and closer coordination between government institutions to help unlock investment opportunities across the sector.