Report - Principality Stadium helps sport make huge economic impact on Wales

A study by Sport Wales on the impact of sport on Welsh life has found that the Principality Stadium has an annual value of around £32million to the economy.

The Economic Importance of Sport in Wales 2016/17 report, commissioned by Sport Wales, shows the sport industry grew to £1,142m (up 10% since 2010). The sport sector was also found to out-perform pharmaceuticals, travel, accommodation and textiles industries in Wales.

Stadium

An assessment of the economic impact of the Principality Stadium showed its estimated value to the Welsh economy being £32.3m in additional Welsh economic activity/output, with £11m of this being gross value added. The stadium's events calendar supported almost 400 full time equivalent jobs, at the stadium site and elsewhere in Wales through its supply chain.

It comes as another sell-out crowd is set to descend on Cardiff for the Rugby World Cup warm-up game with England.

The report by Sport Wales found the sporting economy contributed £1,182m in Consumer Expenditure and generated 29,700 sport-related jobs in the same year.

Owen Hathway, Head of Insights and Policy at Sport Wales, said: "These figures show the impressive impact sport is having on our economy in Wales.  What really stands out is that even against challenging economic times, sport as an economic vehicle has been growing in importance.  Since 2010 there has been a 14% increase in sport related employment, a 14% increase in consumer expenditure on sport and a 10% increase in sport related GVA."

Read more here: http://sport.wales/news--events/news--events/our-news/latest-news/it%E2%80%99s-official,-sport-is-one-of-the-top-industries-for-making-wales-money.aspx