This report has shown that Olympic and Paralympic sport is fundamental in creating GVA and employment within the overall sport industry, accounting for the majority of the output produced. Its contribution to employment at 2.1% is much higher than the contribution of GVA (1.2%) implying that growth in Olympic and Paralympic sport will result in an accelerated rate of growth in employment so long as the supply side infrastructure flexes to accommodate increased demand. In addition, this report is the first example of the UK sport industry being analysed separately by the three component parts of the Vilnius Definition of sport. Generally the statistical definition for GVA, employment and turnover ranged between 12% and 18%. However, in the case of consumer spending the statistical definition was much higher at 25.7%, which reflects the economic importance of charges for taking part in sport. Future research on the economics of sport should investigate the significance of sport volunteering, which is not included in the Vilnius Definition, and the growth in sport employment. The five outcome areas of Sporting Future also require research into the social value of elite sport and this is underway in complementary research. The UK now has a transparent audit trail of evidence by which to value the economic importance of Olympic and Paralympic sport, which is consistent with the DCMS's Sport Satellite Account. This position represents a strong basis from which to monitor the development of Olympic and Paralympic sport in future years.
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