New report shows for every €100 Government invests in sport, Exchequer receives up to €195

Research published by the Federation of Irish Sport in partnership with Investec has shown that for every €100 invested in sport by the Government, the Exchequer receives up to €195 in tax revenues.

The research found that sport contributes 1.4% of gross added value in Ireland, employing 39,500 people (1.7% of the workforce).

The report showed that the economic value of sports volunteering is around €1.1 billion per year, and that sports tourism generates €500 million per year.

Last year, the Government launched Ireland's first ever National Sports Policy- a ten year plan to get more people participating in sport and physical activity.

The Government has pledged to double sports funding from €111 million per year to €220 million per year.

Mary O’Connor, CEO of the Federation of Irish Sport, said:

Sport is central to the Irish story. It’s also an essential contributor to the Exchequer, social inclusivity and participation, health, and tourism. Critically, as our research shows, investing in sport makes economic sense.

“The last significant body of economic research undertaken in Ireland was the Indecon Report published by the Irish Sports Council in 2010. Thankfully, nearly a decade later, the Irish economy and our public finances are in a far healthier place."

She added:

“Our single biggest ask ahead of next week’s Budget is that it provides for further investment in people and programmes.

"We believe it is essential that Budget 2020 takes the second step on the road to meeting the National Sports Policy’s very laudable goal of doubling sport funding over the ten-year life of the policy.

“Sport needs this to happen on a year-on-year basis if it is to meet the challenging participation targets set out in the National Sports Policy.”

Minister of State fir Sport, Brendan Griffin TD welcomed the report: “The value and significant contribution of sport to Irish society comes across very clearly in this research.

"The Government is acutely conscious of the importance of sport and we have spelled that out very clearly in the 10-year National Sports Policy that was launched last year. We have committed to increasing sports investment over the next decade and we will progressively deliver on that commitment."