The economic determinants of sports industry in Malaysia

Abstract

Sports thought-about united of the foremost vital components in national development. Since independence in 1957, Malaysian government has place such a lot efforts and measures on sports development. Asian nation sporadically goes through periods of distress associated with sport performance. Asian nation spends plenty of cash and experience on its high performance athletes. Programs facilitate high athletes perform higher in coaching, endure injury, train the mental facet of performance, and aid athletes and coaches in alternative areas similarly. this can be cash that’s well spent. Indeed, if the govt. goes to pay cash supporting sport this can be wherever these funds belong. The Malaysian tourism sector has widened its scope by venturing into extreme sports tourism. With this new development, tourism opportunities square measure created and boosting the Malaysian tourism business growth. the aim of this paper is to see the predictors of sports tourism involvement in Asian nation from the economics perspective. The recent shocks in provide and demand within the world aren’t because of sudden economic reasons. Indeed, associated with Covid-19 that causes speedily spreading world health issues and life threats round the world coping with the social issues created by Covid-19 pandemic, they ought to not neglect the economic changes created by this pandemic. The government-ordered lockdowns have discontinuous life for billions and within the same time creates economic collapse situation. The foremost vital of those economic changes in developing countries with high fragility is exchange rates caused by sports and tourism industry, as a result of exchange rates will directly have an effect on several economics variables, from inflation to foreign trade, from the balance of payments to interests. Therefore, this analysis calculates the result of COVID-19 to sports and tourism business for affected countries within the worldwide. This study evaluated the impact using supply and demand curve to detect the economic changes in tourism industry. Lastly, tourism and sports sector became an intermingled strategy for several nations to get important value. Malaysia, for instance, in its National Key Economic space (NKEA) under the tourism sector indicates international sports events as a serious economic activity to push.