CRITICAL ANALYSIS OF THE ECONOMIC EFFECT OF COVID-19 ON SPORTS INDUSTRY: A COMPREHENSIVE VIEW OF PAKISTANI SPORTS GOODS

Abstract

The goods industry is a key contributor to the advancement of society as whole, economy, exports and financial services. Goods industry has potential to be the backbone of society's infrastructure, an engine of economic growth, creation of jobs, and a producer of essential goods and services for businesses and households. The purpose of the present study was to evaluate the economic effect of covid-19 on sports industry crisis due to pandemic and introduce their resilience solutions. This research was qualitative, with the convenient sampling technique was used to conduct it. The researchers used close ended online questionnaire through WhatsApp for data collection in which had 25 statements. The data was analyzed through SPSS 20.0 version and the state indicates that the formulated hypothesis was accepted and the result shows that here was negative effect of covid-19 on sports sector in Pakistan having mean of the tasting variable was 2.7106, SD was 0.43188 and sig difference was 0.071. The findings of the study stated that covid-19 has negative effect on sports sector and the study linked with another that COVID-19 pandemic affected all economic activities and crashed stock markets across the globe (Şenol, Z., & Zeren, F. 2020). According to the available evidence in this pandemic situation, there is no practical and complete planning, even after several months of the COVID pandemic. Therefore, planning to solve the economic problems of sports sector obviously requires time to gather information, conferences and plan. In addition, sports business owners expect that in such a situation, appropriate facilities will be provided for taxes and other possible facilities.