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ECONOMY TRANSFORMATION AREA

Economic sustainability aims to ensure long-term economic security and stability in the realisation of sporting events without depleting natural resources and impairing social conditions. This requires political measures as well as corporate responsibility, individual commitment, a circular economy, sensible supply and value chains and innovative business practices. This is the only way to ensure that economic development is in harmony with sustainable prosperity and the principles of sustainability. Digitalisation and a suitable IT infrastructure are becoming increasingly important as supportive factors.

 

PRINCIPLES

Economic sustainability at sporting events requires a perspective in which economic decisions and activities are not only geared towards short-term success, but also have long-term effects.

 

An economically sustainable society strives for long-term and stable prosperity that fulfils the needs of current generations without jeopardising the ability of future generations to meet their own needs. Sporting events can contribute to this, for example by ensuring that the infrastructure set up for them (outdoor recreation areas, toilet facilities) or sports facilities are subsequently used by the local population.

 

In order to improve the responsible use of natural resources by a sporting event and to protect human rights in supply networks, a transformation is required, i.e. changes from the current state towards a desired target state, and corresponding financing.

The ability of a sporting event to cope with shocks and challenges is an important aspect of economic sustainability: Resilient sporting events are more resistant to unexpected events (e.g. short-term withdrawal of a sponsor) and difficult situations (e.g. significantly fewer visitors than expected).

 

Companies should report transparently on their economic activities and be accountable to their stakeholders (i.e. interest groups) and society. An economically sustainable sporting event therefore takes ethical business practices and corporate responsibility into account.

 

The promotion of innovation and the utilisation of technology are key elements of the economic sustainability of a sporting event: They can increase efficiency and create new opportunities for sustainable growth.