The paper analyzes the economic significance of the sports sector in Georgia based on 2023-2024 data. Utilizing the Sport Satellite Accounts (SSA) methodology, the study demonstrates a potential causal link between sporting achievements and the country's economic growth. The research highlights and confirms that sports in Georgia have transcended social boundaries and possess the potential to evolve into an independent economic sector, with a share of GDP that exceeds international benchmarks. Furthermore, the paper examines sectoral distribution and provides recommendations for data institutionalization and the further development of the sports industry.
According to the key research findings, data from Geostat for 2023-2024 (SSA) confirm that the sports economy's share of GDP is substantial: 4.7% in 2023 and 3.2% in 2024. Currently, Georgia's sports economy is a consumption and service-oriented model, where the primary value added is generated from spectator and commercial activities. The share of manufacturing and industrial components remains low, indicating potential for future growth. The historic sporting achievements of 2023-2024 align with economic activity. Although a strict causal relationship is not declared, there is a clear positive coordination between sporting results and economic indicators.
Sport Satellite Accounts are recognized as a crucial mechanism that allows for an accurate assessment of sports' contribution within the system of national accounts. Its development (including the addition of employment and regional dimensions) is critical for effective state policy planning. The development of the sports industry is viewed as a powerful factor for the country's economic diversification, investment attraction, and the creation of new growth points, which, under the right state policy, can significantly contribute to the overall prosperity of the country.
