Parents are shelling out billions of dollars annually for their kids to play sports. In this “pay to play” society, the U.S. government and private organizations find that the youth sports industry is estimated to be a $15 billion industry.
During a recent @walbtv show, The Breakdown, I provided financial insight on costs associated with children’s sports and also briefly discussed the economic benefits of that community’s homecoming celebrations.
AVERAGE ANNUAL SPENDING PER SPORT, PER CHILD
|SPORT||ANNUAL AVERAGE COST|
|Track & field||$191.34|
|Source: Aspen Institute|
As a former “Soccer Mom” — aka basketball, baseball, track, golf, skiing, goalball and band Mom — of three children and now as a grandmother of young athletes and scholars, I know well that many businesses that benefit from children’s sports such as:
Sporting goods stores (gear, etc.)
Grocery stores (snacks and drinks per game)
Restaurants (teams’ celebrations)
Trophy stores (ribbons, plaques)
Clinics and camps
Specialized training centers
Colleges and universities