How does sports affect the Finnish economy?

Abstract

As Finland is moving into what might be considered the next golden age of Finnish sports, Finland has seen massive success in professional sports. For example, Finland won the Olympics and the world cup in men’s ice hockey in the same year, secured a spot in the world cup for men’s basketball and placed very well in the European championship tournament having very prominent young players for a first time in a long time. The thesis investigates professional teams and their impacts on small local economies, as well as how does having a professional sports team in your city or town helps the economy amongst other topics quantitative. The results of this newfound success in sports is seen in construction for new facilities, and opportunity costs that can be hard to measure, prolonged success for professional teams can also attract more tourists to the area and create more jobs. The sports industry is not only important for Finland but also for the rest of the world being one of the most prominent industries which also includes sectors like sports apparel and equipment. To understand these effects better, a qualitative research study was conducted to understand the dynamics between an economy and sports. Sports is now more prominent in the culture and everyday lives of the Finnish people, so it is important to not underestimate the economic effects of the industry, but to understand the negative and positive effects that the presence of sports brings to a local economy.