Tacn nhóm 5 sports business in viet nam

Besides, sports business also serves sports activities such as producing, providing goods, sports services such as equipment, media, marketing …The context of Vietnamese Sports in genera

BỘ GIÁO DỤC VÀ ĐÀO TẠO TRƯỜNG ĐẠI HỌC THƯƠNG MẠI

TOPIC: SPORTS BUSINESS IN

VIETNAM

Giáo viên hướng dẫn: Nguyễn Quỳnh Mai

Lớp học phần: Tiếng Anh Chuyên Ngành 1 Nhóm thực hiện: Nhóm 5

Hà Nội, tháng 10 năm 2023

DANH SÁCH THÀNH VIÊN

+ Nội dung

MỤC LỤC

DANH SÁCH THÀNH VIÊN 2

MỤC LỤC 3

1 Introduction 5

1.1 Reason for choosing the topic 5

1.2 Objective of the discussion 5

2 Current status of sports business in Vietnam 5

2.1 The development of the sports business industry 5

2.2 Achievements and potential of the sports business industry in Vietnam .5 2.3 Successful sports business models 6

3 Challenges and opportunities 6

3.1 Opportunity 6

3.2 Challenge 7

4 Solutions and suggestions 9

4.1 Increase investment in infrastructure and facilities 9

4.2 Raise people's awareness and thinking about investing in sports business. 9 4.3 Develop policies and regulations to support the sports business industry.9 4.4 Strengthen cooperation between businesses and governments to create favorable conditions for the sports business industry 10

5 Conclusion 10

5.1 Summarize the main points discussed 10

5.2 Evaluate solutions and recommendations 10

1 Introduction

1.1 Reason for choosing the topic.

In today’s modern society, sports business is growing very strongly and becoming a potential industry Sports business is part of national economics, it contributes to providing goods, sports services for social needs Sports business includes physical activities and sports activities Besides, sports business also serves sports activities such as producing, providing goods, sports services such as equipment, media, marketing …

The context of Vietnamese Sports in general and sports business in Vietnam in particular has been increasingly improving in recent years We have had many changes and good ways to promote the socialization of sports, mobilize the participation and

contribution of the entire society to develop sports, step by step

Sports business has many interesting aspects that you may not know so our group 5 decided to do the topic "Sport Business in Viet Nam" to clarify this for you

1.2 Objective of the discussion.

In this discussion, we have researched and learned about the development, achievements of the sports business industry in Vietnam in recent years At the same time, giving lessons for ourselves and for the sports business industry in Vietnam

2 Current status of sports business in Vietnam

2.1 The development of the sports business industry

The development of the sports business industry in Vietnam in recent years is generally trending positively

- Leading companies and brands in the world have focused on the Vietnamese market, and investors have also poured capital into this field This can be seen through the fact that famous brands such as Nike, Adidas, Puma, and other sports equipment

manufacturers have opened stores and provided high-quality products in Vietnam These companies have recognized the strong development potential of the sports industry in Vietnam and are looking to exploit this market

- In addition, the media and television industry is also growing strongly in Vietnam, including the production and distribution of sports media content on mass media

Some popular sports media channels in Vietnam include VTVCab, FPT Play, On Sports,

2.2 Achievements and potential of the sports business industry in Vietnam

The sports business industry in Vietnam has achieved a number of achievements and has hidden development potential Here are some highlights:

- Outstanding growth: The sports business in Vietnam has had impressive growth in recent years According to a report by Reuters News Agency, Vietnam is considered one of the most strongly developed markets in Southeast Asia with industry revenue growth expected to reach 7.2% annually from 2021 to 2020 2027

- Attention and investment from the Government: The Vietnamese

Government is aware of the development potential of the sports business industry and has introduced support and investment policies for sports projects and events This has created favorable conditions for businesses and individuals in the industry

- Infrastructure development: To meet the needs of developing the sports business industry, Vietnam has invested in building sports infrastructure, including stadiums, training centers, and sports areas diverse sports Projects such as My Dinh Stadium in Hanoi and My Dinh National Stadium in Ho Chi Minh City have contributed to creating a professional sports environment

- Development of sports: Vietnam is a country with many remarkable sports talents The achievements of Vietnamese athletes in international tournaments, such as the Olympics or SEA Games, have attracted attention and created interest in sports in Vietnam This creates opportunities for businesses in the sports industry to capitalize on the potential

of sports and offer products and services that serve the needs of sports fans

- The development of technology in the sports industry: The development of technology has brought many new opportunities to the sports business industry The use of information and communication technology, such as live video, mobile sports applications and online rankings, has captured the interest of fans and created opportunities to reach new audiences new partners and customers

2.3 Successful sports business models

Some successful sports business models in Vietnam include:

- Sports product business model: Some international sports brands such as Nike, Adidas, Puma, have been successful in the Vietnamese market thanks to product quality and effective marketing strategies

- Sports event business model: A number of professional sports tournaments in Vietnam such as V-League, V-League 1, National First Division, have attracted the attention of a large number of people fans, creating business opportunities for businesses

- Sports media business model: Some sports media channels in Vietnam such

as VTVCab, FPT Play, On Sports, have been successful thanks to broadcasting major sports tournaments and sports content attractive

3 Challenges and opportunities.

3.1 Opportunity

Advantages of Vietnamese sports culture

Vietnamese sports culture offers many opportunities to develop the sports industry Vietnamese people have a great love and passion for sports Football, volleyball, badminton, martial arts and volleyball are popular sports and attract great attention from people This creates opportunities to develop tournaments, sports clubs and provide sports-related services Vietnam has a long tradition in the field of sports, especially in martial arts such as Vovinam, Shooting and Taekwondo The achievements and international titles of Vietnamese athletes have increased pride and encouragement for the younger generations to participate in sports These successes create opportunities to build Vietnam's sports image and brand on an international level Vietnam has a diversity of sports and folk games Popular sports such as shuttlecock, Chinese chess, chess can be widely developed and promoted, attracting the attention of both domestic people and international tourists This creates opportunities to develop unique and innovative sports events and products Participating in sports activities, from street games to sports clubs, not only helps create an inclusive and cohesive environment but also provides business and brand promotion opportunities

Potential for economic development and population growth

Vietnam has the potential for significant economic development and population growth, and this creates opportunities to develop the sports industry With economic growth and people's income, interest and spending on sports activities also increase Vietnamese people are increasingly aware of the benefits of participating in sports activities to maintain health and balance in life To meet the growing demand for sports, Vietnam needs to invest

in sports infrastructure, including stadiums, training centers, gyms and sports training facilities Building and improving this infrastructure not only creates opportunities for organizing major sporting events, but also attracts investments in this field and creates jobs for people The growth of the sports industry creates opportunities for businesses to develop sports-related products and services This development and diversification of products and services will create business opportunities and meet people's growing demand for sports Increasing interest and spending on sports, building sports infrastructure, organizing international sports events, training and developing sports talent, and developing products and services Sports-related services are important opportunities to develop the sports industry in Vietnam

The attention and support from the government and the love of sports of Vietnamese people

The Vietnamese government has recognized the important role of the sports industry

in improving public health and creating conditions for athletes to achieve high performance Investment and development of sports infrastructure to meet the growing needs of the people is being promoted by the government This provides a solid foundation for sports activities, attracts international events and creates favorable conditions for sports businesses

to develop The government provides financial support and establishes sports policies to encourage the development of this industry May include providing sports scholarships to young athletes, providing financial support to sports clubs and organizations, and establishing favorable tax and regulatory policies for sports businesses Interest and support from the Vietnamese people in sports can encourage participation and develop sporting talent building professional training programs, creating favorable conditions for the development of young athletes and sports talents, as well as encouraging people to participate in sports activities and creating a foundation for the development of sports clubs and tournaments Promoting sports education in the educational system and society increases awareness of the benefits of participating in sports activities and encourages

healthy living At the same time, building a positive sports environment, promoting sports values and encouraging community sports activities also contributes to promoting the sports industry

3.2 Challenge.

Limited infrastructure and facilities

Limited infrastructure and facilities can create significant challenges for the sports industry The issue of lack of sports infrastructure is certainly a major challenge for the sports industry Construction and maintenance of stadiums, training centers, gyms and sports training facilities require large investments Lack of sports infrastructure not only limits the ability to organize international sports events but also affects the development and improvement of the training and competition quality of athletes The sports industry requires significant financial investment However, financial limitations can affect the development ability of sports clubs and sports organizations The lack of sponsorship and financial support from government and businesses, along with difficulties in finding other sources of revenue such as advertising and ticket sales, puts pressure on the sports industry and can limit its development Facing these challenges, financial investment, supportive policies, clear regulations and public attention are needed to promote sustainable development of the sports industry

People's habits and thinking about investing in sports business

Vietnamese people's habits and thinking about investing in sports business still have limitations, which can create challenges for the sports industry Some people may not be fully aware of the business value of the sports industry They may view sports as a recreational activity and fail to recognize the business potential and economic benefits that the sports industry can bring Therefore, it leads to a lack of investment and financial support for projects and businesses in the sports industry Another challenge for the sports industry is the limited market Sports may be considered a specialized field and may have less competition than other businesses This can reduce the ability to seek investment and sponsorship, as well as limit the growth and expansion of sports businesses However, finding and convincing partners and sponsors may not be easy, especially when the sports

market is competitive and economically unstable Doing business in the sports industry requires specific business management knowledge and skills Lack of this knowledge and skills can reduce the likelihood of success for sports businesses and projects This can cause financial risks and ineffective management, affecting the sustainability and development of the sports industry

Competition with other economic sectors

The sports industry must compete with many other sectors for the attention and time

of audiences and consumers There are various entertainment options such as movies, music, video games and live sporting events This poses a big challenge for the sports industry in attracting and retaining audiences Besides, the sports industry must compete with other economic sectors to attract investment and sponsorship There are many partner and sponsor options in the market and other economic sectors such as technology, healthcare and finance also compete to attract capital This can reduce the availability of funding and impact the development and expansion of businesses and projects in the sports industry The sports industry has to compete with other economic sectors in reaching and attracting customers.There are many different business sectors in the market, which poses a challenge for the sports industry to find and maintain a loyal customer base and increase marketing effectiveness In addition, this industry must compete with other economic sectors in applying and developing new technologies such as digital communications, data analysis, virtual reality experiences and artificial intelligence Therefore, it requires the sports industry to invest in technology to meet customer needs and create better experiences, while also facing competition from other economic sectors in using technology technology to improve its products and services

4 Solutions and suggestions

4.1 Increase investment in infrastructure and facilities

Adequate sport infrastructure is important to sport participation, as many sports cannot be performed without having the appropriate sport facility Sport infrastructure is needed to succeed in the government policy objective of fostering sport practice and business The existence of proper infrastructure creates many new opportunities for the growth of sports in Vietnam Moreover, creating a favorable environment for an effective

development of sustainable sports infrastructure makes it beneficial for the government to foster sport participants Sport infrastructure assists in the development of world-class athletes and also provides impetus to the youth of the nation to actively take up sport and build a sport culture, impacting as such the socio-economic growth Not only that, innovative sports infrastructure plays a vital role in competing in the international sporting arena

Sports is a major leisure industry needing numerous gyms, sports centers, swimming pools, stadiums, and sports These require substantial investment, so the government should invest more money into projects and schemes related to developing and upgrading innovative infrastructure and facilities associated with sports

In the present day, financial investments by the state and central governments about infrastructure and facilities of sports in Viet Nam are not enough Therefore, it's necessary

to open the door for international investors in upgrading and erecting many state-of-the-art sport infrastructure and facilities By establishing or expanding investment promotion agencies make it desirable to promote sports-related investments, attracting both domestic and foreign investors to the business fields

In addition, the government needs to adopt a systematic approach to accelerate private-sector participation in sports infrastructure development To do it, the government can use methods to enhance investment incentives by considering offering tax incentives or financial support mechanisms to attract private investment in sports-related ventures This can include tax breaks for sport facilities construction or incentives for investors in sport startups

4.2 Raise people's awareness and thinking about investing in sports business.

Organize investment clubs, seminars or workshops focused on sports business where individuals can learn, share knowledge, experience, insights and collaborate on potential investments

Create close collaborations with sports organizations, leagues and associations to promote investment opportunities and create mutually beneficial relationships

Make lessons and organize optional courses with recorded videos and written materials to help learners acquire vital information or knowledge about investing in sports industries The government should motivate citizens to build up new ideas and implement