•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Vietnam, with its internal advantages and aspiration to rise, is at a “golden opportunity” to rethink sport as a driver of economic development, aiming to build a professional and sustainable sports economy.
Globally, sport is increasingly treated as an economic sector rather than only a social activity. Several countries in Asia have already demonstrated how sport can generate revenue and broader development benefits.
Thailand’s hosting of international events such as the World Women’s Volleyball Championship has shown the potential to generate more than USD 260 million through tourism and related services. Singapore has used the Formula One Grand Prix to attract tourism, promote culture and strengthen its national brand.
Vietnam’s demographic profile and growing public interest provide a foundation for similar development. With around 70% of the population under 35, Vietnam has a large labor force and a dynamic consumer market for sporting activities and related products and services. Events including the SEA Games and domestic football leagues (V.League) attract millions of views and online engagement, creating an investment and business opportunity.
According to statistics from the Vietnam Department of Sports, by 2025 more than 38% of the population exercises regularly, and 28.3% of households meet the “sport family” standard. By 2035, the sports industry is expected to have more than 45 million people who exercise regularly, representing about 45% of the population.
At the Vietnam Sports Economy Forum in March 2026, former Minister of Culture, Sports and Tourism Nguyen Van Hung said Vietnam can learn from other countries’ experiences but must adapt them to local realities, noting that “copying will never fit exactly” and that development must start from Vietnam’s conditions.
The Vietnam Sports Economy 2026 report states that sports in Vietnam are gradually becoming an economic sector. The investment scale for 2024-2025 is estimated at more than USD 3 billion. With projected growth rates of 8-15% per year, the sports economy is expected to reach USD 8-10 billion by 2030 and USD 20-30 billion by 2040.
Despite the growth potential, current physical activity in Vietnam largely depends on sponsorships and broadcast rights. Monetization from athlete commercialization, accompanying services, and related products remains underexploited.
To meet growth targets, development needs to go beyond scaling up. It includes improving institutions, creating a transparent environment, and encouraging economic actors to participate across the sports value chain. It also requires changing public perception of health and sport—recognizing sport not only as a social activity but as a service-driven economy.
The report highlights the importance of applying technology to management, operations and communications, as well as developing digital products and services to improve efficiency and competitiveness. It also calls for strengthening physical education in schools to improve health and help identify and nurture talent.
While the state is described as playing a catalytic and supportive role, the primary resources for sports economy development should come from the private sector. Socializing sport is considered essential to mobilize maximum resources and sustain growth momentum.
The Deputy Director of the Vietnam Department of Sports said the XIV National Party Congress document continues to identify economic development as a core task linked with cultural development, with a key objective in the cultural sphere being to develop people comprehensively.
In this context, sport is positioned as important not only for improving health, fitness and preparing human resources, but also for its potential as a comprehensive service industry. The sports economy is expected to contribute to GDP growth and job creation, while also enhancing national pride and promoting Vietnam’s image internationally.
More broadly, the sector’s development is expected to directly benefit citizens by improving living standards and supporting a healthier, more dynamic society.
Building Vietnam’s sports economy is described as a long-term effort requiring coordination across the political system, the business community and society. With clear directions, a well-structured strategy and collective determination, Vietnam aims to turn sport into a growth engine, strengthen national status and improve quality of life for citizens.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
