Hatch report shows sport and physical activity worth £270 million a year to the Suffolk economy
Suffolk County, UK— A new report from Hatch Regeneris has revealed the importance of the Sport and Physical Activity sector to the Suffolk, England economy. The report shows that the sector contributes £270 million a year to the Suffolk economy, accounting for over 10,000 jobs or 3% of all employment in Suffolk and is almost double the proportion seen at national levels.
The report shows that employment in the sector has grown at a faster rate than all other sectors in Suffolk, up 60% in the last 5 years. By contrast, employment in financial and professional services has grown by 10% over the same period.
Patrick Ransom, senior consultant with Hatch Regeneris, said, “Our work highlights that the Sport and Physical Activity sectors are growing rapidly in Suffolk and there is a higher concentration of jobs in the sectors than in other places. Public and private sector partners should work together to unlock further growth and help the sectors reach their potential.”
The report highlights the importance of continuing the drive towards increasing participation as a way of both improving productivity and reducing the spend on health and social care. It estimates that a reduction of just 10% in Suffolk employee sickness rates would give the Suffolk economy a boost of £42 million annually.
The report also recognizes both the importance of the sector in providing a stepping stone into employment as well as a gateway into higher skilled jobs. The report also highlights the need for organizations in Suffolk work together to respond to the future skills needs of a growing sector.
Councillor James Reeder, Suffolk County Council’s Cabinet Member for Health, said, “Undoubtedly, sport and physical activity is integral to Suffolk life. Not only is it essential to the health and wellbeing of the whole community, it also makes an important contribution to the local economy in terms of spending, output, and employment.
“Despite this, the contribution that sport makes to the economy has not, to date, been fully acknowledged. It is therefore essential that we fully understand the potential of the Sport and Physical Activity sector in Suffolk and work collaboratively to maximize its contribution to the economy.”
Regeneris, a leading independent economics consultancy, joined Hatch, as part of our Urban Solutions team, in July of this year. This new partnership combines deep strategic and technical capabilities with industry leading social and economic research and analysis enabling our clients to tackle their toughest challenges through greater insight and more informed decision-making.