Sports economy in Vietnam, a neglected 'gold mine': Vietnamese people start to spend money on sports

Besides developing high-performance sports, mass sports also need to be invested and developed, as this is an area with a lot of potential to exploit because Vietnamese people are increasingly willing to spend on sports activities, which is expected to bring great economic benefits.

C BURN OF SPORTS ECONOMIC ECOSYSTEM

According to Metric.vn 's 2024 data, sales of products containing the keyword "pickleball" on four major e-commerce platforms (Shopee, TikTok Shop, Lazada and Tiki) reached VND271.9 billion. Notably, in the first quarter of 2025 alone, this figure jumped to VND228.7 billion, almost equal to the previous year. The best-selling items include rackets, competition balls, specialized shoes, backpacks and pickleball outfits.

Mr. Hoang (45 years old, living in Gia Lai) also invests a lot in his passion for running. "Every year, I spend about 30 million VND to buy shoes, supplements such as nutritional gel, electrolyte water packs... That's not to mention the costs of buying bib shirts, accommodation, and travel when participating in marathons in many localities across the country such as Hanoi, Hue, Da Nang, Khanh Hoa... It is estimated that every year I spend nearly 100 million VND, not a small amount of money but it is worth it when I improve my health and have many valuable experiences," he said. Similarly, people who play other sports such as football, badminton, tennis... also spend a lot of money to satisfy their passion and improve their health.

A triathlon (3 events: running, swimming and cycling) in Da Nang attracts thousands of participants

PHOTO: HUY DAT

That is the reason why many agencies and organizations have entered the field of organizing soccer, pickleball, and jogging tournaments for the community. Although this is not their forte, these units can still make profits, earning billions of dong from selling competition tickets, advertising money, etc. Many domestic sports brands have also begun to produce more diverse products, from soccer, badminton to jogging, pickleball. At the same time, many "big guys" in the sports industry have also opened stores in Vietnam, attracting many customers despite the high value of the products, from several million to tens of millions of dong.

Many amateur players also take the opportunity to become KOLs (influencers in a certain field), KOCs (consumers with influence in the market). They use products such as shoes, rackets, competition equipment, supplements, etc. and then give reviews to receive remuneration and commissions. They build an "ecosystem" from their own experiences: both spending money and creating commercial value.

Pickleball is one of the fastest growing sports, creating a "fever" on e-commerce platforms.

PHOTO: NHAT THINH

OPPORTUNITIES AND CHALLENGES

The above statistics show that Vietnamese people are increasingly concerned about their health and are willing to spend money to invest. This is the foundation for mass sports to become an "industry" that brings even greater profits in the near future. A bank can spend tens of billions of dong to sponsor a major race to directly reach tens of thousands of potential customers. A domestic sportswear brand not only accompanies professional athletes but is also willing to cooperate with amateur athletes to build an image close to customers, thereby increasing revenue. At that time, the cash flow is continuously circulated between athletes, organizers and businesses, contributing to economic development.

It is clear that mass sports are opening up a new "gold mine" for the Vietnamese market. Sports brands, event organizers, and investors all see the opportunity. But that comes with challenges in terms of service quality and professionalism. Some races have been criticized for poor organization, causing traffic jams or not ensuring the safety of athletes. Meanwhile, pickleball courts have sprung up en masse, but many do not meet standards; many soccer and tennis courts... are not regularly maintained, leading to deterioration, easily causing injuries to athletes. These are also the reasons why the mass sports economy in Vietnam has not yet fully exploited its potential, even though the people's demand is still very large.

For sustainable development, mass sports need more professional steps. Running, pickleball or amateur soccer tournaments can only retain participants if they are organized systematically, ensuring service quality, safety and a complete experience. In addition, policies from management agencies also play an important role in supporting infrastructure, planning playgrounds and encouraging businesses to invest long-term instead of following trends. These are the things we need to focus on improving.

From a broader perspective, the fact that Vietnamese people spend more and more money on sports not only reflects the rising standard of living, but also shows the change that sports are not only professional, no longer a sideline but an essential part of life. At the same time, a strong mass sports foundation is also a "launching pad" for professional sports to develop, aiming to conquer high achievements in major tournaments in the region, continent, world such as SEA Games, ASIAD or Olympics.

Not stopping there, the development of mass sports movement opens up a lot of room for economic exploitation. Now, community sports business not only has traditional areas such as clothing trading, providing playgrounds but also many new types of services, suitable for the market thanks to the acumen of entrepreneurs and start-ups. However, the sports economy in Vietnam has not yet developed to its inherent potential, it can still explode further, bringing opportunities to make money for many people . (continued)

Source: https://thanhnien.vn/kinh-te-the-thao-o-viet-nam-mo-vang-bi-bo-quen-nguoi-viet-bat-dau-chiu-chi-cho-the-thao-185250902191246538.htm