Sports Economy in Vietnam, a Forgotten 'Gold Mine': There's Still a Gap to Fill

In Vietnam, many types of sports-related services are flourishing. However, sports tourism, the "industry" with the greatest potential, has not yet exploded.

THE MARKET IS STARTING TO BRING LIVESHIP, BUT…

The sportswear and accessories industry has existed for a long time but has recently developed more strongly. A series of domestic brands such as Kamito, Jogarbola, Masu... not only sponsor and provide products for professional teams and athletes but also expand to amateur, semi-professional playgrounds and ordinary practitioners. Not only that, sportswear has also become a fashion style. Young people not only wear it when practicing and competing but also wear it when going out and traveling.

Thunder Castle Stadium becomes a famous tourist destination in Buriram province (Thailand)

PHOTO: BURIRAM UNITED

A field that develops after the sports clothing and accessories industry but also has a very fast growth rate is the business of food supplements and sports nutrition. Now, not only professional athletes but also amateur and movement players are highly conscious of taking care of their bodies. They want their training and competition sessions to achieve maximum performance, want to always be in the best physical condition. From there, the demand for proteins, vitamins, electrolytes, energy gels, etc. has increased.

Vietnamese people not only have the need to play sports to improve their health, but it is also a spiritual food. Many people want to record beautiful images and videos of themselves to share on social networks, spreading the spirit of sports. From there, the service of taking photos and filming amateur and grassroots matches has developed. If in the past only professional tournaments could be broadcast live and have beautiful images, now a grassroots football tournament or a friendly badminton match can do the same.

This service is becoming increasingly popular as the cost per person is not too high. For example, the average price for a photo shoot of a football match in Ho Chi Minh City is around 1.5 million VND. Each team has about 15 players, so each person only needs to spend an additional 50,000 VND to have 2 or 3 beautiful photos, taken with a specialized camera.

As the sports movement develops, players not only participate for fun but also want to exchange, compete, and learn from tournaments. Therefore, the profession of organizing sports events has gradually made progress. From marathons, grassroots soccer, school basketball, to pickleball or eSports, all need a professional team to operate. This team will take care of the whole package: planning, calling for sponsorship, communication, tournament operation...

And humans are not machines. Anyone who plays sports can face the risk of injury, from mild ones such as sprains, muscle strains, to severe ones such as torn ligaments, broken bones... This is an opportunity for sports injury treatment and rehabilitation centers to develop. In big cities, many physical therapy centers that combine modern medicine with sports rehabilitation have been established, providing services from sports massage, cold compresses, shock wave therapy... In particular, the use of technology such as cryotherapy, hyperbaric oxygen chambers has gradually appeared.

This is an important piece in the sports ecosystem, not only for professionals but also for amateurs who want to maintain long-term health. Mr. Tran Huy Tho, doctor of the Vietnam football team and CEO of the RTD Rehab Sports Injury Rehabilitation Center, said that his clients are not only professional athletes but mostly ordinary people, playing many different sports such as football, jogging, pickleball, tennis, etc.

K BLANK

The sports economy in Vietnam is gradually developing, but an important sector has not been fully exploited, which is sports tourism. This sector has long been a trend in the world. Many people book hotels and resorts with tennis and pickleball courts... to both travel and play sports. Others take advantage of their vacations to watch prestigious tournaments such as Wimbledon, the US Open (tennis)... According to BBC, this "industry" is expected to reach the 1,800 billion USD mark by 2030.

In Thailand, sports tourism is also very developed and Buriram is a model worth learning from. According to a scientific research project of Chulalongkorn University (Thailand), in 2022, Buriram province will organize about 100 sports events each year to promote tourism. This is the first province in Thailand to consider sports tourism as an important strategy in the process of economic development. Thanks to businessman and politician Newin Chidchob's strong investment in Buriram United Club, building Thunder Castle Stadium and FIA - Grade 1 racing track for cars and FIM - Grade A for motorcycles, the economic face of Buriram province has changed dramatically. From 2001-2010, the province's tourism economy brought in a total revenue of only 10.5 million USD, by the period 2011-2018 this figure skyrocketed to 113.6 million USD.

Vietnam has great potential for developing sports tourism. The Ministry of Culture, Sports and Tourism has affirmed that our country has many rich and diverse terrains and a favorable climate for organizing sports activities, including many types of sports that can be organized into events to attract tourists. However, sports tourism in Vietnam has not developed to its full potential. There are many reasons for this problem. First, we have few top-notch facilities such as Thunder Castle Stadium or major tournaments such as Wimbledon. In addition, the market currently does not have many travel companies with in-depth knowledge of sports to bring tourists complete and interesting experiences. (continued)

Source: https://thanhnien.vn/kinh-te-the-thao-o-viet-nam-mo-vang-bi-bo-quen-van-con-khoang-trong-can-lap-day-185250903232236438.htm