Sports Economy in Vietnam, a Forgotten 'Gold Mine': There Are Still Gaps 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 BECOME ACTIVE, BUT…

The sportswear and accessories industry has existed for a long time, but it has recently experienced a significant surge in growth. Numerous domestic brands such as Kamito, Jogarbola, and Masu… not only sponsor and supply products to professional sports teams and athletes but also expand into amateur, semi-professional, and even casual sports. Furthermore, sportswear has become a fashion statement . Young people wear it not only during training and competition but also for leisure and travel.

Thunder Castle Stadium has become a popular tourist destination in Buriram province (Thailand).

PHOTO: BURIRAM UNITED

One sector that has developed after the sportswear and accessories industry but is also experiencing very rapid growth is the business of nutritional supplements and sports nutrition. Now, not only professional athletes but also amateur and recreational players are highly conscious of taking care of their bodies. They want their training sessions and competitions to be at their best, and they want to always be in peak physical condition. As a result, the demand for protein supplements, vitamins, electrolytes, energy gels, etc., has increased significantly.

Vietnamese people not only play sports to improve their health, but it's also a form of mental relaxation. Many want to capture beautiful images and videos of themselves to share on social media, spreading the spirit of sportsmanship. This has led to the development of photography and videography services for amateur and grassroots sports events. While previously only professional tournaments could be live-streamed with high-quality images, now even amateur football matches and friendly badminton games can be broadcast live.

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

As sports movements develop, players participate not only for fun but also to socialize, compete, and learn from the experience of participating in tournaments. Therefore, the profession of organizing sports events is also gradually progressing. From marathons, amateur football, school basketball, to pickleball or eSports, all require a professional team to operate. This team will handle everything: planning, securing sponsorships, media relations, and tournament operations.

And humans are not machines. Anyone who plays sports faces the risk of injury, from minor sprains and muscle strains to serious injuries like torn ligaments and fractures. This is an opportunity for sports injury treatment and rehabilitation centers to develop. In major cities, many physiotherapy centers combining modern medicine with sports rehabilitation have emerged, offering services ranging from sports massage and cold compresses to shockwave therapy. In particular, the use of technologies such as cryotherapy and hyperbaric oxygen chambers is gradually becoming more common.

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

EMPTY SPACE

The sports economy in Vietnam is gradually developing, but an important aspect that has not been fully exploited is sports tourism. This sector has long been a global trend. Many people book accommodations at hotels and resorts with tennis courts, pickleball courts, etc., to combine tourism with sports activities. Others take advantage of their holidays to watch prestigious tournaments such as Wimbledon and the US Open (tennis). According to the BBC, this "industry" is expected to reach $1.8 trillion by 2030.

In Thailand, sports tourism is also highly developed, and Buriram is a model worth emulating. According to a 2022 scientific study by Chulalongkorn University (Thailand), Buriram province organizes approximately 100 sporting events annually to promote tourism. This is the first province in Thailand to consider sports tourism as a key strategy in its economic development. Thanks to the significant investment by businessman and politician Newin Chidchob in Buriram United Football Club, the construction of Thunder Castle Stadium, and the FIA ​​Grade 1 racetrack for cars and FIM Grade A track for motorcycles, the economic landscape of Buriram province has dramatically changed. From 2001-2010, the province's tourism economy generated only $10.5 million in total revenue, but this figure skyrocketed to $113.6 million between 2011 and 2018.

Vietnam has great potential for developing sports tourism. The Ministry of Culture, Sports and Tourism has affirmed that our country has a rich and diverse landscape and a relatively favorable climate for organizing sports activities, with 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. Firstly, we have few top-tier facilities like Thunder Castle Stadium or major tournaments like Wimbledon. In addition, the market currently lacks many travel companies with in-depth knowledge of sports to provide tourists with complete and enjoyable experiences. (to be 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