The concept of sports economy should be formed in Azerbaijan.
Modern.az reports that Elnur Məmmədov, Head of the Sports Department of the Ministry of Youth and Sports, stated this during a meeting of the Youth and Sports Committee with the Ministry of Youth and Sports, the National Olympic Committee, and sports federations.
Elnur Məmmədov noted that it is not possible for the state alone to cover all expenses.
“We are working on the draft law “On Sports”. One of the main issues here is related to the formation of the concept of sports economy. What is the share of sports in GDP? How many people are employed in the sports sector today? How much tax do they pay? What are the total expenses in this field?”
According to him, the “Formula 1” race held in our country is a strategic event.
"Because it is one of the races with the largest fan base in the world and the most watched through television. Today, investments are made in sports, but through it, tourism, financial flows into the country, and other sectors are also revitalized. In other words, although the investment is directly aimed at sports, it indirectly serves the development of other sectors. Today, the state and federations spend funds. As a result, expenses for sports apparel, equipment, and other areas increase. However, the overall economic activity generated after sports competitions is not directly attributed to sports".
The department head noted that more financial resources are needed in the field of sports, and will continue to be needed in the future.
"Because success in sports management creates additional expenses and increasing demand. When establishing a large business or company, the results achieved are considered your success. But in sports, when a federation or athlete achieves success, previous achievements seem to be overshadowed during the next failure. For example, in football, FK “Qarabağ” successfully advanced to the group stage of the Champions League, and as a result, millions of funds entered the country's economy. This is a concrete example of the economic impact of sports".
It was noted that today we have beautiful sports complexes and extensive infrastructure.
"However, as the activities of federations increase, serious questions arise regarding their infrastructure capabilities. Because as mass participation increases, more infrastructure is required. This is particularly evident in team sports – volleyball, football, basketball, handball. Sometimes several teams have to train in the same hall. This creates certain difficulties in the popularization of sports", he also noted.
