TSMA Yearbook 2019

28 2019 Yearbook Upbeat Sports Economy Brings Industry New Momentum According to data from Marketline, global revenue for sporting goods in 2017 reached US$142.3901 billion, or a compound annual growth rate (CAGR) of 4.5% over the years from 2013 to 2017. The CAGR is expected to increase to 5.4% between 2018 and 2024. Thanks to more and more people seeking to relieve stress by engaging in sports and recreational activities, as well as more and more people desiring to stay healthy, more businesses are acting to satisfy people’s demands through innovative services such as digital economies and experience economies. This is the reason behind the prosperous development of global sports industries. In addition, wide media coverage of international games and competitions, such as the 2018 FIFA World Cup, the 2018 BWF World Mr. Jang-Hwa Leu Director General Industrial Development Bureau Ministry of Economic Affairs