After the long hiatus caused by the pandemic, the availability of new financial resources through the PNRR and the organization of major events in our country, such as the Milan-Cortina 2026 Winter Olympics, can once again put the spotlight on sports and its role as a driving force behind the recovery. The 2022 edition of the Leonardo Committee Forum is dedicated to the role and potential of the sports sector, as well as its relationships with the country’s various production sectors. This annual event brings together representatives from institutions and the business community to assess the development prospects for Italian companies.

The Forum, organized in collaboration with ICE Agenzia, Confindustria, and CONI at the CONI headquarters in Rome, was attended by the President of the Leonardo Committee, Luisa Todini; the President of ICE Agenzia, Carlo Ferro; the Vice President of Confindustria, Barbara Beltrame Giacomello; and the President of CONI, Giovanni Malagò. The Minister of Foreign Affairs and International Cooperation, Luigi Di Maio, brought the proceedings to a close.

Other speakers included Nerio Alessandri (Technogym), Lavinia Biagiotti (Biagiotti Group), Maria Criscuolo (Confindustria's Technical Committee for Sport and Major Events), Antonio Marano (Milan–Cortina 2026 Foundation), and Maurizio Stroppiana (Mondo).

Professor Stefano Manzocchi, Vice-Rector for Research at Luiss University, presented the study “Sport and Business: A Winning Partnership.” The study was commissioned by the Leonardo Committee and conducted by the Guido Carli University. It analyzes the tangible and intangible benefits the sports sector brings to the national economy and assesses the economic impact of a major event like the upcoming Milan–Cortina 2026 Winter Olympics.

“The sports industry, across its entire value chain, accounts for 1.5% of GDP, with 26,000 companies and over 200,000 employees working in its various sectors. This is the added value index, a key strength of Italian exports,” stated Luisa Todini, President of the Leonardo Committee. “Made in Italy showcases true excellence in the production of sporting goods, with companies that have established themselves in foreign markets thanks to their exceptionally high level of quality, design, and technology. The return of major sporting events, celebrated with the many victories of our extraordinary athletes, is a tangible sign of a country that is picking up the pace and winning. Sport and its industry enhance and improve communities and regions, creating a driving force for economic and social well-being, with a particular focus on the development of digital technologies and the protection and sustainability of the environment. Today marks our second meeting with CONI, supported by a comprehensive guide prepared by Luiss. The aim is to take stock and, more importantly, to outline the areas where we can focus to best utilize and coordinate the resources of the PNRR. Sport and business working together to grow our economy and improve our well-being.”

“Sharing the excellence of Made in Italy with the world by promoting our culture, our regions, and our leadership in sports means promoting Italy comprehensively,” says Carlo Ferro, President of ICE Agenzia. “That's why, today, in this highly complex scenario, it's more important than ever to work as a unified system, pooling the strengths of each stakeholder to support businesses and regions. As part of the Export Pact, ICE Agenzia is doing its part through 19 new initiatives. Among these are the Be.IT nation branding campaign and the MadeinItaly.gov.it platform, which are also closely linked to the sporting events we support alongside the Ministry of Foreign Affairs and International Cooperation (MAECI): from the MadeinItaly F1 Grand Prix to the Giro d'Italia and the Lega Serie A, now broadcast internationally with the Serie A and Be.IT logos. All of this is part of the new ICE: more dynamic, more modern, and more eager to be close to businesses and collaborate with all stakeholders in the system. Because the challenge in international markets is played with open rules, and as sports teaches us, you win through teamwork!”

“2021 was the year when sports made a comeback after the pandemic, a year of rebirth that saw Italian athletes succeed around the world. The sports sector is a key component of the civil, social, and economic recovery,” said Barbara Beltrame Giacomello, Confindustria’s Vice President for Internationalization. “What hasn’t been in the spotlight is that sports are always backed by a very dynamic industry, capable of driving growth and exporting the Italian model abroad through iconic Made in Italy products. Our sporting goods stand out for their excellent design, meticulous attention to detail, and the quality of their materials and craftsmanship. Quality, therefore, is the key to standing out in an increasingly competitive environment, and it's what protects our goods from the fierce competition from our rivals.”

 

“The Ministry of Foreign Affairs,” stated the Minister of Foreign Affairs and International Cooperation, Luigi Di Maio, “is paying increasing attention to the dynamics of the sports sector within the national economy, especially since it took on responsibility for foreign trade and made innovation, digitalization, and export quality the cornerstones of its strategy to support the internationalization of Italian companies. That’s why, in collaboration with ICE, we aimed to leverage major international sporting events—like the Imola Grand Prix, Serie A soccer, and the Giro d’Italia—as platforms to promote our country and Italian excellence. Targeted, coordinated, and systematic promotion of Made in Italy is key to positioning companies in foreign markets. Italian sport, by bringing together various production chains, makes a fundamental contribution to achieving this goal.”

“Our research,” commented the Vice-Rector for Research at Luiss, Stefano Manzocchi , “shows that sport is not only a strategic industrial sector for the national economy—with over 15,000 companies managing sports facilities and activities, direct revenue exceeding 4 billion euros, and nearly 40,000 employees—but it is also a driving force behind the production and export of sports goods and equipment, which have seen significant growth in recent years. Therefore, sport and business form a winning partnership. Sport plays a hugely important social role, generating significant positive intangible effects for the national economy. These include improving the population’s mental and physical well-being and social cohesion, reducing healthcare costs, and promoting the country and tourism. In this way, sport contributes in various ways to achieving the Sustainable Development Goals of the UN 2030 Agenda.

The report shows that, over the past decade, the number of Italians who regularly participate in sports has increased on average (from 22.8% in 2010 to 27.1% in 2020), though it remains below the EU average. However, the proportion of Italian citizens who are “active in sports” still shows a persistent gender gap, with higher rates of sports participation among men across nearly all age groups.

<p class="Default"> Another key finding from the study is the role that sport has always played in our country’s urban redevelopment, as well as its significant contribution to the tourism industry through sports tourism. In 2020, when global revenue from international tourism plummeted by 64% due to the pandemic, the sports tourism market proved more resilient. Meanwhile, the number of Italians engaging in sports while on vacation nearly doubled, rising from 18% in the summer of 2019 to 32% in 2020, with significant economic benefits for local communities.

It is also emphasized that sport is one of the sectors that has most readily seized the opportunities presented by the digital economy and the acceleration brought about by the health crisis. This has been achieved through the adoption of digital tools to simplify legal and regulatory requirements, streamline organizational activities, manage access to sports facilities, and schedule competitions and training sessions, as well as through the spread of new hybrid or “phygital” sports event formats. At the same time, the health emergency has exposed pre-existing issues within the sector and underscored the need for a comprehensive reform. This reform should establish adequate institutional infrastructure and a clear, coordinated policy plan to support the sector’s recovery and development.

Given its social and economic significance, the PNRR has allocated one billion euros to the sports sector. This funding will support two investment lines for the 2021–26 period: upgrading sports infrastructure in schools (300 million) and creating sports facilities and equipped parks (700 million). 

 

The economic impact of a major sporting event: the case of Milan–Cortina 2026

The Luiss report also presents a simulation exercise to assess the economic impact of a major sporting event: the Milan–Cortina 2026 Winter Olympics. This is done by analyzing the multiplier effects triggered by the organization and hosting of the event itself. The main assumption is that the event will lead to increased demand in the sports sector, which is estimated to have a conventional value of one billion euros. The exercise suggests that the 2026 Winter Olympics will generate an increase in resources within the sports sector totaling 1,142 million euros; sectors directly and indirectly linked to the sports sector will benefit from additional resources amounting to 1,026 million euros. In summary, a 1 billion euro increase in demand within the sector generates a direct, indirect, and induced impact on the entire economy of 2,901 million euros, which equates to a multiplier effect of approximately 2.9.

The organization of the Winter Olympics will also impact employment, driven by the rise in demand and, consequently, in production for companies supplying the sports sector. The estimate suggests that with a billion euros in increased demand for goods and services in the sector, nearly 13,000 new jobs could be created nationwide. Of these, over 9,000 would be within the sector itself, and nearly 4,000 in key related economic sectors. Similarly, the increased production activity in the sports sector also impacts companies downstream in its supply chain by generating higher added value.

The impact analysis shows that, with increased demand in the sports sector, for every euro of added value created, about 0.46 euros are indirectly generated downstream in the supply chain. Finally, the rise in value added and employment leads to an increase in income, estimated at around 320 million euros, with 225 million euros of that within the sector itself.