Impact of sport on the economy

Abstract

The sports economy and sports business are developing very fast in Azerbaijan. Sport socialises people; plays a major role in the establishment and development of public relations. In fact, efforts to build new friendships, gain a place in the group, and get to know the other group members affect and improve the social life of an individual. In regions where societies achieve these values social structures, associations, clubs, facilities grow and social relationships are built in an environment where people share common interests and excitement. The economic impact of sports produced by the development and growth of the sports industry comes to the fore due to the increase in goods and services. Both in terms of production and consumption, service production and consumption of sports constitute the sports economy. The sports economy is identified as a branch of science investigating the relationship in the process of production of sports industry priducts (goods and services) and consumption.