Extreme Weather Poses Crisis for Trillion-Dollar Sports Economy

Extreme weather threatens the $2.3 trillion sports economy's revenue growth, notably impacting sports tourism and leading to potential $500 billion losses by 2030. The industry's footprint risks exacerbating climate change, yet its growth could advance social benefits like gender equality and reduced healthcare costs.

Extreme weather is poised to disrupt the $2.3 trillion sports economy, with a new report highlighting the threat to annual revenue growth. The sector's dependence on tourism tied to resource-intensive global events adds to the risks faced from climate change and nature loss.

Consultancy Oliver Wyman's findings emphasize the role sports can play in promoting social benefits, such as lower healthcare spending and enhanced gender equality. Tony Simpson, partner and global sports industry lead at Oliver Wyman, stresses that the industry must act responsibly as a community asset.

The report, prepared for the World Economic Forum, projects the sports economy will increase to $3.7 trillion by 2030. However, extreme weather events, like those affecting the Tour de France, could lead to substantial revenue losses and impact future sports coverage and sponsorship.

(With inputs from agencies.)