In 2023, the production value in the Sports Activities sector in Turkey stood at 9.5 billion New Turkish Liras. Over the last two years, the sector witnessed a substantial increase of 18.02% in 2022 followed by a 14.22% rise in 2023. The compound annual growth rate (CAGR) over the past five years was 12.5%, highlighting a trend of robust, albeit decelerating growth post the significant surge in the mid-decade.
Notably, from 2013 to 2019, the sector experienced consistent growth with annual increases typically above 20%, except in 2018 where growth was slightly lower. A downturn occurred in 2020 with a negative growth rate of -11.73% due to the global pandemic, followed by a recovery in 2021 and subsequent years.
Future trends to watch for:
- Forecasts suggest moderate growth with a 5-year CAGR of 5.71%.
- By 2028, production is expected to grow by 31.98%, reaching 13.77 billion New Turkish Liras.
- Increasing investments in sports infrastructure and rising sports participation rates will drive sector expansion.
- Potential economic volatility and regulatory changes could impact future growth trajectory.
