SHAH ALAM, Oct 17 (Bernama) -- Malaysia aims to become a regional hub for sports technology and innovation — a place where young people can turn passion into careers, creativity into enterprise, and innovation into the future, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.
He said the global sports industry is on a strong upward trajectory, projected to grow by 54.5 per cent, from US$388.2 billion in 2020 to an estimated US$600 billion by 2025.
“The expansion reflects a robust Compound Annual Growth Rate (CAGR) of approximately 9.1 per cent, underlining the resilience and competitiveness of the sports economy worldwide.
"Within this dynamic landscape, Malaysia’s sports sector is demonstrating exceptional momentum. Valued at US$4.17 billion in 2022, it recorded a remarkable 12.1 per cent year-on-year growth — surpassing the global average.
"This achievement signals Malaysia’s emergence as a key player in the ASEAN region, where sports are increasingly recognised as both a unifying force and a catalyst for innovation, entrepreneurship, and youth empowerment," he said in his speech at the ASEAN Sports Industry Expo 2025 here today.
Ahmad Zahid, who is also Rural and Regional Development Minister, added that with a combined population of over 680 million, ASEAN holds immense potential to become the next global hub for the sports economy.
He said it encompasses a comprehensive value chain that spans sports tourism, wellness, talent development, high-value manufacturing, marketing, digital innovation, and professional services.
The global sports technology market, worth US$11.7 billion in 2020, is expected to grow rapidly through innovations such as IoT, data analytics, and smart infrastructure.
“Malaysia must not only follow these trends we must help lead them. Through initiatives like the Sports Technology Sandbox, the National Sports Technology Centre of Excellence, and digitalisation across the industry, we are building an ecosystem where innovation fuels performance and opportunity.
“We will also strengthen sports science, medicine, and nutrition to support athletes holistically and ensuring they compete not just harder, but smarter and safer," he said.
Ahmad Zahid also said that the sports industry opens new horizons for high-value employment, especially for the youth.
“Through TVET (Technical and Vocational Education and Training), we are preparing a generation not only to play, but to design, manage, and innovate within the sports economy,” he said.
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