Sports events able to provide lucrative income

KUCHING: Sports activities can provide a huge source of income to some individuals and institutions nowadays, said Minister of Youth, Sports, and Entrepreneur Development Datuk Seri Abdul Karim Rahman Hamzah.
 
He said that sports are no longer associated with only health and social benefits.
 
“Sports activities that relate to businesses have become more and more lucrative as they have evolved from the management of simple leisure activities participated in by a small number of participants to mega international events participated in by a great number of people from all over the world.
 
“Because of their potential as income generators for the country, it is only justified for each of us to play our roles in developing this industry for the sake of our nations’ development,” he told reporters.
 
He said this while speaking at the opening ceremony of the Asian Association for Sport Management Conference 2023 (AASM 2023) at the Imperial Hotel here today (Aug 19).
 
Abdul Karim added that he personally believed that this country has great potential for growing sports and maintaining it as a profitable industry.
 
“Having said that, I also believe that information and knowledge sharing are keys to long-term success.
 
“Hence, the gathering of great sport practitioners and researchers today to discuss conceptual ideas, research findings, and related experiences is very useful for this purpose.
 
“I am sure the sharing, exchanging, and comparing of knowledge and experiences from respective unique backgrounds while at the same time maintaining the Asian core will be very beneficial to every participant of this conference,” he said.
 
Meanwhile, president of AASM Dr Cheng Nan Kang said the conference, themed ‘The Asian Sports Industry and the Sustainable Agenda: Action and Education through Sport’, addresses one of the fundamental issues that concern people at large.
 
“The global sports landscape is undergoing unprecedented transformations, and we must collectively respond to these challenges by seeking innovative solutions.
 
“As one of the most dynamic and rapidly developing regions in the world, Asia carries a unique responsibility and opportunity to lead the way in sports management.
 
“Thus, this conference provides a platform for us to exchange ideas, share best practices, and engage in insightful discussions on the latest trends and challenges in sports management,” he said.