Abstract
This paper examines the impact of the global economic crisis on revenues on all non-governmental sport organizations (sport NGOs) in Slovenia, as a small European economy. Five types of operating revenues of all sport NGOs from 2007 to 2010 have been analyzed. We found that the overall trend of sport NGOs revenues does not correspond exactly to the trends of the Slovenian economy. The greatest financial impacts were experienced in grassroots sport, while professional sport NGOs have increased their operating revenues, mostly due to increases of public revenues. The findings suggest that the true impact of the recession on Slovenian sport NGOs remains to be seen. We conclude that the ongoing recession will affect grassroots sport the least, while semi-professional and professional sport NGOs will be under financial threat. Because of the synergistic effects of different types of NGOs, this could affect the sustainability of Slovenian sport.
Highlights
This study deals with the impact of the global financial crisis on operating revenues in non-governmental sports organizations in Slovenia as the small economy within the European Union (EU).1 the first part of introduction provides an overview of the current global financial crisis and its effects on Slovenian economy
The overall operating revenues of Slovenian sport NGOs rose by 8% from 2007 to 2010 and reached €208.265 million, trend are different in three groups of the financial design types of sports NGOs
Stagnation has been observed among revenues of grassroots sport organizations and semi-professional sport NGOs, while an increase has been observed in group of professional sport NGOs
Summary
This study deals with the impact of the global financial crisis on operating revenues in non-governmental sports organizations (sports NGOs) in Slovenia as the small economy within the European Union (EU). the first part of introduction provides an overview of the current global financial crisis and its effects on Slovenian economy. This study deals with the impact of the global financial crisis on operating revenues in non-governmental sports organizations (sports NGOs) in Slovenia as the small economy within the European Union (EU).. The financial market turmoil in 2007 and 2008 has led to the most severe financial crisis since the Great Depression (1929 to 1932) and threatens to have severe repercussions on the real economy (Brunnermeier, 2009). At the beginning in early 2007, the global economy entered a tumultuous period of contraction in real economic activity and disruption in financial markets. As Slovenia’s economy is highly dependent on foreign trade, mainly with other EU countries (Statistical Office of Republic of Slovenia [SORS], 2011), it has been deeply affected by the global crisis
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