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    natural assignment 1

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    anoushamudassar
    Assignment

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    © All Rights Reserved
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    natural assignment 1

    Uploaded by

    anoushamudassar
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    Assignment

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    © © All Rights Reserved

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    Assignment

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    0 views3 pages

    natural assignment 1

    Uploaded by

    anoushamudassar
    Assignment

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    1

    SUBMITTED BY : MAHNOOR ABBASI


    REGISTRATION NUMBER : FA21-BEC-035
    SUBMITTED BY : DR FURQAN BUTT MEHMOOD
    SUBJECT : NATURAL ECONOMICS
    DATE : 08TH MARCH ,20224

    ASSIGNMENT : 01

    QUESTION :

    Write about how sports affect the economy of the nation on a social and financial level? Examples from
    major leagues such as the National Football League (NFL), FIFA World Cup or any other significant
    competition that you believe will have a positive impact on the lives of the common person ?
    2

    Sports have a significant impact on the social and financial facets of a country's economy. Big sporting
    events, like the FIFA World Cup worldwide or the National Football League (NFL) in the United States,
    can have a significant impact on a number of different sectors and ultimately improve the lives of regular
    people.

    Economic Repercussions:
    1) Job Creation: Building stadiums, motels, and transportation infrastructure is just one of the many
    infrastructure projects that come with hosting big sporting events. This ultimately results in the creation of
    jobs across a number of industries, including transportation, hospitality, and construction.

    2) Tourism and Hospitality: Major sporting events bring in a lot of spectators from both domestic and
    foreign markets, which boosts tourism. By spending money on lodging, dining, travel, and souvenirs,
    tourists support the local economy.

    3) Revenue from Media and Advertising: The media and advertising sectors greatly benefit from
    sporting events. Revenue from sponsorships, advertising during games, and broadcasting rights is high.
    The sports sector gains from this financial inflow, which also has positive effects on the overall economy.

    4) The sales of merchandise and licensing rights are fueled by the popularity of sporting events.
    Supporters buy team jerseys, souvenirs, and other branded goods, which boosts the economy of the retail
    industry.

    Social Impact:

    1) Involvement of the Community: Sports have the ability to bring people together. Local sports teams
    and activities encourage social cohesion and a sense of shared identity among the populace by fostering a
    sense of community pride.

    2) Health and Wellness: Increased focus on sports often leads to a healthier and more active population.
    This, in turn, reduces healthcare costs for the government and individuals, contributing to a better quality
    of life.
    3

    3) Inspiration and Role Models: Successful athletes become role models for aspiring individuals,
    motivating them to pursue their goals. This can lead to positive changes in education and career choices
    among the youth.

    4) Cultural Exchange: Global sporting competitions, such as the FIFA World Cup, offer a venue for
    cross-cultural interaction. When international fans get together, it promotes mutual understanding and
    kindness between various communities.

    Examples:

    1) The FIFA World Cup is a perfect illustration of how a major international sporting event can boost the
    economy of a country. The development of infrastructure, tourism, and international attention all soar in
    the host nations. For example, job creation and economic growth were greatly aided by the 2014 World
    Cup in Brazil.

    2) NFL Super Bowl: The NFL's championship game, the Super Bowl, is a significant economic engine in
    the US. The number of visitors, hotel reservations, and local business income all increase in the host
    cities. Significant advertising revenue is also drawn to the event, which helps a number of industries.

    To sum up, major sporting events affect a country's economy and society greatly. Their contributions to
    infrastructure development, job creation, and community engagement ultimately improve the general
    well-being of the populace. These events have positive effects that go beyond the sports sector,
    contributing to the global economic fabric of societies.

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