VIETNAM SPORT SHOW 2023 brought together 350 booths from over 250 businesses representing 12 countries and territories, attracting over 10,000 visitors. — Photo courtesy of Vinexad

HCM CITY — The Vietnam International Sports and Outdoor Exhibition (VIETNAM SPORT SHOW 2024) will make a grand return this September, attracting an expected 15,000 visitors as well as hundreds of prominent companies in the sports products and services industry at the Saigon Exhibition and Convention Centre in HCM City.

Running from September 26 to 28, the exhibition will gather more than 350 businesses from 12 countries and territories, featuring 450 booths across four sectors including health and fitness, outdoor and leisure, sporting goods and facilities and sportswear.

The event is poised to play a pivotal role in the country's sports economy. Serving as a comprehensive platform, it will showcase the latest advancements in sports equipment, technology and services, attracting a diverse array of businesses, investors and sports enthusiasts from around the world. This robust participation is expected to stimulate economic activity, boosting sales for domestic sports manufacturers and strengthening international partnerships.

The exhibition will also facilitate the exchange of knowledge and innovation within the sports sector, highlighting advancements in infrastructure, technology, production methods and new recreational services. Consequently, VIETNAM SPORT SHOW will act as a significant driver of growth and development for Vietnam's sports economy, paving the way for future investments and collaborations.

Sport has always been integral to societal development, becoming an essential part of everyday life. Economically, the sports sector offers a wealth of opportunities for businesses to tap into, providing a wide range of customer solutions. In recent years, there has been a notable increase in consumer spending on fitness and sports activities, further fuelling the sector's growth.

According to a report from Statista, the global sports equipment market generated a revenue of US$43.72 billion in 2023. The following period, from 2024 to 2028, is projected to grow at a compounded annual rate (CAGR) of 6.35 per cent. Statista also indicated that the sports equipment market in Southeast Asia has a CAGR of 6.45 per cent, surpassing the global average.

In Việt Nam, there are currently nearly 4,000 gym facilities, thousands of swimming pools, artificial turf fields and more. People are increasingly engaging in a variety of sports disciplines, investing more in equipment, attire and especially outdoor sports and recreational activities such as golf, cycling, rowing and adventure sports.

According to a report by Ken Research, from 2018 to 2023, the Vietnamese sports and fitness market experienced a CAGR of 19.5 per cent in revenue. It is forecasted that in 2024, the sports equipment market will grow by 2.9 per cent.

These impressive figures highlight the significant growth potential of the industry in the next few years. Consequently, businesses need a platform to gauge consumer preferences, gain insights and foster collaboration to expand their market presence. VIETNAM SPORT SHOW 2024 serves as this essential platform, enabling businesses to solidify their position and enhance their brand visibility. — VNS