Looking at sport through an economic lens - as infrastructure capable of scaling markets and strengthening local value chains - provides a framework for cooperation between business, policymakers and communities across Africa, Yvonne Ike, Head of Sub-Saharan Africa (ex-RSA) at Bank of America, writes.
When G20 leaders gather in Johannesburg this week, discussions will centre on energy, trade and employment - issues that shape global economic activity. Alongside these familiar pillars, however, sits a less frequently examined driver: Sport. Not as charity or soft power but as a developing category of infrastructure that supports consumer demand, service industries and fiscal capacity in multiple markets.
Bank of America Institute highlights the economic potential. Our Market Landscape Insights work finds that households globally spend roughly $1,122 USD annually on sports-related goods and experiences. Transaction-level card data show that major events reliably lift local spending. During the most recent FIFA Club World Cup, host areas recorded a 7% year-on-year increase in hospitality and retail activity. These effects are modest individually but meaningful when repeated and scaled.
Sport increasingly behaves like an investible sector of the real economy.
In the United States, major running events demonstrate the scale achievable with strong logistics and audience engagement. Bank of America Chicago Marathon generated an estimated $683 million USD in economic impact in 2024, while the top 50 global marathons contributed roughly $5.2 billion USD worldwide last year. Europe shows similar principles at a larger scale: UEFA EURO 2024 delivered around €7.4 billion to the German economy, supported by robust broadcasting, transport and hospitality infrastructure.
Sub-Saharan Africa is at an earlier stage but moving quickly. Industry mapping suggests a sports economy growing at roughly 8% per year, driven by rising digital participation, mass-audience events and growing investor interest. The Africa Investment Forum has highlighted pipelines spanning stadium upgrades, broadcast production hubs and professional leagues, areas where capital flows when metrics, governance and revenue visibility improve.
Importantly, sport’s role in Africa’s broader economic ascent is now visible on the global stage: nine CAF nations - Morocco, Tunisia, Egypt, Algeria, Ghana, Ivory Coast, Senegal, South Africa and Cape Verde - have already secured places for the Bank of America sponsored 2026 FIFA World Cup. This momentum is mirrored in real investment: Morocco is upgrading dozens of stadiums and constructing a new 115,000-seat venue; Egypt, Ghana and Ivory Coast are expanding training centres and youth development programmes.
The evidence suggests that with the right structures, sport can move beyond culture and entertainment to become a measurable contributor to sustainable economic development.
Private academies and international partnerships, particularly in West and North Africa, are leveraging innovative ways to develop and mobilise talent pipelines. These investments, which span facilities, technology, athlete development and broadcast capabilit, are strengthening the commercial and operational base required to attract long-term sponsorships and sustainable financing.
This week for example, BofA and Great Ethiopian Run (GER) announce a multi-year partnership with BofA serving as the Presenting Partner beginning in 2026. As one of Africa’s largest mass-participation road races, GER demonstrates how events can generate measurable local spending, while also building institutional and logistical capacity - from payments to media production - that underpins sustainable sector development. Addis Ababa illustrates how even single-day events can strengthen local value chains, stimulate service industries and foster financial inclusion.
For the continent’s sports economy to deepen, several structural elements are important. Measurement remains central: investors, broadcasters and sponsors rely on robust audience and engagement data to price long-term commitments. Transparent, audited KPIs reduce uncertainty and support consistent valuations. Infrastructure also matters: broadcast quality, stadium safety and reliable scheduling influence monetisation.
Development
Evidence from the US, Europe and emerging African markets shows that when metrics, infrastructure and governance improve, capital follows. Sport increasingly behaves like an investible sector of the real economy, even if at different maturity stages across regions. For financial institutions, this creates an opportunity to treat sponsorships as long-term, data-supported partnerships. For governments and industry bodies, it suggests sport can support broader economic priorities, from job creation to digital adoption.
As the G20 convenes in Johannesburg, the continent’s largest economies will be in global focus. Looking at sport through an economic lens - as infrastructure capable of scaling markets and strengthening local value chains - provides a framework for cooperation between business, policymakers and communities across Africa. The evidence suggests that with the right structures, sport can move beyond culture and entertainment to become a measurable contributor to sustainable economic development.
