As Vietnam actively seeks new drivers for economic growth, the sports economy is increasingly being recognized as a high-potential sector capable of contributing directly to the national GDP.

However, for this industry to truly "take off," the country must address systemic bottlenecks and select an appropriate development model—challenges that are well-known but remain complex to navigate.

These themes were central to the Vietnam Sports Economy Summit (VSES) 2026, held in Hanoi on March 27. Under the theme "Shaping a New Economy," VSES 2026 aimed to broaden the perspective on sports, repositioning it as a sector capable of generating substantial economic value, market opportunities, and long-term development for the nation.

Speaking at the forum, Mr. Cho Hyun Jae, Chairman of the Korea Sports Promotion Foundation and former Vice Minister of Culture, Sports, and Tourism of South Korea, shared insights into how South Korea successfully built a modern sports industry from humble beginnings. He emphasized that this success was rooted in a long-term strategy, synchronized policies, and a mindset that treats sports as a value-added economic sector.

A core pillar of the Korean model is the public-private partnership (PPP) mechanism. In this framework, the State focuses on establishing the policy environment and regulatory oversight rather than directly operating sports entities. Furthermore, attracting major corporations to invest in sports has generated significant financial resources, allowing the industry to scale up and improve quality rapidly.

Mr. Cho also highlighted the development of legalized sports-related financial models as a crucial revenue stream. These models provide stable funding for reinvestment and the maintenance of the sports ecosystem. By transferring management responsibilities to professional organizations, the South Korean sports industry has been able to operate according to market logic, enhancing both efficiency and sustainability.

Drawing from these international experiences, experts at the summit noted that Vietnam’s challenge is not merely to replicate existing models but to adapt them to domestic conditions.

Many participants agreed that as Vietnam’s economy undergoes a powerful transformation, the sports economy represents a "new frontier" for investment. If positioned correctly with effective promotional mechanisms, it can serve as a convergence point for progressive policies, market demand, and diverse social capital.

Delivering the opening address, Minister of Culture, Sports, and Tourism Nguyen Van Hung emphasized that refining the institutional framework is a prerequisite for success. This involves reviewing existing regulations that act as barriers while simultaneously building a policy framework that is both regulatory and enabling, paving the way for social resources to participate.

According to the minister, legislation should not merely serve a regulatory function but must become the foundation for creating developmental space for this new economic sector.

From a market perspective, analyses presented at the summit indicated that global sports have moved far beyond the realm of mere entertainment to become a major economic sector with a highly complex structure.

The industry's value is no longer limited to tournaments or athletic achievements; it is increasingly generated through media rights, sponsorships, event management, tourism, equipment manufacturing, technology, and user data.

Currently, the global sports market is valued at hundreds of billions of dollars in direct revenue streams alone, such as media rights, sponsorships, and match-day earnings. When expanded to include related fields—such as sporting goods, sports tourism, and ancillary services—this scale multiplies significantly, highlighting the vast potential for growth within this economic sector on a global scale.