Sports industry records RM24.1bil growth, 198,400 jobs in 2024, says Statistics Department

PUTRAJAYA: Malaysia's sports industry provided 198,400 job opportunities in 2024, with the sector continuing to grow by 7.8% to RM24.1bil. According to the Sports Satellite Account 2024 report published by the Statistics Department on Tuesday (June 30), total employment in the sector accounted for 1.2% of overall employment in the country, while the Gross Value Added of the Sports Industry (GVASI) contributed 1.3% to Malaysia's Gross Domestic Product (GDP). Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said sports services (excluding wholesale and retail) recorded the largest contribution to sports industry employment at 40.8%, followed by sports manufacturing at 30%, sports wholesale and retail at 28.3% and sports facility construction at 0.9%. "The growth of GVASI in 2024 was driven by sports services, excluding wholesale and retail, which expanded by 6.7% compared to 11.5% in the previous year. "Sports services, excluding wholesale and retail, also dominated GVASI, contributing 41.7% of the total sports industry value, followed by sports wholesale and retail at 32.0 per cent, sports product manufacturing at 24.2% and sports facility construction at 2.1%," he said in a statement. He said that sports product exports amounted to RM10.3bil in 2024 or 0.8 per cent of Malaysia's total exports, while imports of sports products rose to RM7.2 bil, resulting in a net export value of RM3.1bil. Overall, he said, the sports industry continued to play an important role in the country's economy through its contributions to economic growth, job creation and international trade activities.