This month Alexis Krachai, MD of Counter Context, wrote for The Star Business monthly about Sheffield’s sporting heritage and the role it has to play in the city’s economy.
Sheffield United’s promotion to the football Championship, the snooker at The Crucible, Kell Brook’s fight at Bramall Lane later this month. These events excite fans and attract big crowds. They capture the imagination and create pride in the city. They also mean big business and the opportunity to put Sheffield on the map.
Our city has a long and proud sporting history. The world’s oldest football clubs, the home of the World Snooker Championship and training HQ of Team GB Boxing. It is the base for one of the UK’s best basketball teams; the DBL Sheffield Sharks. All of this is made possible because we proudly boast world-class facilities such as Ponds Forge Sports Centre and the English Institute of Sport (EIS). New specialist facilities are being built at the Olympic Legacy Park. For athletes, boxers and players these facilities matter.
The city’s sporting success is helping to grow our economy. The World Snooker Championship has generated £100 million for our economy since the tournament came to Sheffield. On May 27th when Kell steps into the ring every hotel room in the city will have been sold to fans flocking to Bramall Lane. Later in the summer we will host the Special Olympics Great Britain National Summer Games. Our city will host over 2,600 athletes, 800 coaches, 750 volunteers and over 5,000 spectators. All of these visitors will spend money in local shops, hotels and restaurants.
At a recent Sheffield Chamber event held ringside at the EIS, home of GB Boxing, we heard that £7 million has been invested in the city by the sports club. This includes a large property portfolio, jobs created and international training camps. Anthony Joshua, who still trains in Sheffield, said himself: “There is no place like this training camp.”
If our city is to continue growing we need to attract international investment. Sport generates interest. Interest generates investment. The World Snooker is watched by hundreds of millions of people. Some will run businesses or want to invest in the UK. Some of these many millions will visit Sheffield and spend money in our city simply because we are the home of the world’s most famous snooker tournament.
Some might argue that sport is just about fun and entertainment. They are wrong. Investing in our sporting success and hosting world-class events helps to grow our economy. Sport attracts interest. Interest attracts visitors and investment. Investment grows our economy helping to support local businesses and create jobs.