Sports economy in Vietnam, a neglected 'gold mine': Looking for new spearheads

For decades, football and volleyball have been considered the spearheads of Vietnamese sports, both in terms of audience attraction and investment flow. However, a sustainable sports economy needs to find new spearheads.

P RUNNING MOVEMENT AND SPORTS TOURISM

Over the past 5 years, running has become the largest sports movement in Vietnam, with a series of marathons and half-marathons attracting tens of thousands of participants. The special feature of running is the combination of sports, tourism and commerce. Running races in Hanoi, Ho Chi Minh City, Hue, Lam Dong, Lao Cai... attract both domestic and international athletes. These events generate revenue from tourism, hotels, cuisine and become a launching pad for shoe, clothing and sports equipment brands.

According to statistics from the Hue City Department of Tourism , tourism revenue during the famous running race organized by a press agency increased by 149.5 billion VND, 3 times higher than the same period in 2024. This race had 12,000 athletes participating, bringing a significant number of visitors to the ancient capital. The story is similar in Quang Ninh province, from May 25 to 31, the race in Ha Long had more than 10,000 athletes, bringing total revenue from local tourism to reach 690.5 billion VND.

Conquering special running routes, passing through Hue Citadel, historical sites or the route along the Perfume River (in Hue City) or through limestone mountains, Ha Long beach becomes a special, memorable experience for athletes. As the running movement develops further, sports tourism in Vietnam also benefits.

GAM eSports is the leading e-sports organization in Vietnam, won the gold medal at SEA Games 31

PHOTO: DONG NGUYEN KHANG

WHAT TO EXPECT FROM NEW SPORTS?

In Vietnam, pickleball is developing at a rapid pace. From the initial spontaneous training grounds, now a series of clubs, academies, and tournaments are organized professionally in Ho Chi Minh City, Hanoi, Da Nang... Not only attracting amateur players, pickleball also witnessed the participation of professional athletes from tennis and badminton. Prominent faces such as Ly Hoang Nam, Trinh Linh Giang, Truong Vinh Hien quickly became new stars, bringing great attraction. Prestigious world tournaments on pickeball such as PPA Tour are also held in Vietnam.

The important thing is that pickleball is opening up a vibrant commercial market. Domestic brands such as Kamito, Sypik, Facolos, Zocker… compete directly with international brands such as Selkirk, Joola. They not only produce rackets and balls but also invest heavily in sponsoring athletes, organizing tournaments, and even launching limited edition products named after stars. This is clear evidence that pickleball is not only a recreational sport, but also a potential spearhead for Vietnam's sports economy in the future.

eSports is also a sport that deserves attention. Mr. TK Nguyen, CEO of GAM eSports (the team representing Vietnam won the 31st SEA Games gold medal in League of Legends), shared with Thanh Nien : "E-sports is the perfect sport to develop in Vietnam. This is a sport that focuses on skills rather than physicality like other sports. Gaming is a global industry, worth 184 billion USD, with more than 3.3 billion players. Vietnam has more than 30 million gamers and 13 million eSports fans. With a young population and a developed science and technology foundation, Vietnam can rise to the top of Southeast Asia in this sport.

When investing in GAM eSports, I received a lot of value. Personally, I am proud to represent Vietnam in international tournaments, creating influence, spreading culture, and inspiring the younger generation. I also combine my passions: business, sports, and storytelling. In terms of revenue, we earn money from prize money in tournaments, cooperation with businesses (FPT, Vietjet, Monster Energy, Logitech, etc.), attending events, and advertising."

Mr. TK Nguyen admitted that the development of eSports in Vietnam still faces many challenges such as incomplete infrastructure, many investors still do not fully understand the value of eSports and initial operating costs may be higher than revenue. However, the favorable thing is that eSports is receiving stronger support from the Government. "eSports has been officially recognized at the SEA Games, Asian Games and even the eSports Olympics. That recognition has encouraged large Vietnamese corporations to participate, and the Government is creating incentives for them to contribute to building infrastructure, bringing eSports in Vietnam to a new level," he shared, while affirming: "eSports is completely capable of becoming a new spearhead for the sports economy in Vietnam. It creates jobs, from players, coaches to event staff, content creators and marketers; promotes tourism, large live events attract not only tens of thousands of domestic fans but also international tourists.

For example, this September, Da Nang will host the LCP (League of Legends Championship Asia-Pacific) Finals at Tien Son Stadium. Fans from all over the world will come, not only to watch e-sports but also to experience the natural beauty and culture of Vietnam. That is the impact that e-sports can bring." (continued)

What is missing in Vietnam's sports economy ?

Mr. TK Nguyen shared: "Vietnam's sports economy, both traditional sports and e-sports, has great potential. This reflects the country's development... The middle class is growing, with stable income and is willing to pay for sports expenses. To maximize its potential, Vietnam's sports economy needs investment in infrastructure (stadiums, academies, training centers...); support policies to develop professional sports; help brands have the right perception of the value of sports; build a complete ecosystem including: content development, merchandise sales, event organization and tourism...".

Source: https://thanhnien.vn/kinh-te-the-thao-o-viet-nam-mo-vang-bi-bo-quen-di-tim-nhung-mui-nhon-moi-185250907174355963.htm