New research commissioned by Sport Wales found that the benefits to society outweighed the costs that were invested in 2016-17. An estimated £1.2bn was invested in sport (which includes actual spend and volunteer time) and the research, undertaken by Sheffield Hallam University, found that it created £3.4bn in Social Value.
Sheffield Hallam University applied a Social Return on Investment (SRoI) approach to evaluating the return on the £1.2bn invested and found that for every £1 invested in sport £2.88 was effectively generated via a number of ways including value of well-being and lower healthcare costs.
The study shows how investing on a basis beyond cost can deliver wider value benefits for the community and/or region where the investment takes place. The findings also highlight how varied Social Value delivery can be with factors ranging from improved health to enhanced well-being, reduced crime and improved education.
The Perfect Circle JV is involved in delivering a number of projects across the Built Environment including those within the sport sector. These include the New Sports Pavilion Ripley for the Amber Valley Borough Council, the Ards Peninsula Sports Pitches for Ards and North Down Borough Council and the Ravelin Park Sports Centre for the University of Portsmouth.
Through projects like these Social Value can be delivered to the communities around those projects and add benefit beyond just revenue and continues to build a strong case for investment not only in sports initiatives but across the whole of the Built Environment.
It estimated that £1.2bn "invested" in sport - including actual spending and volunteers' time - in 2016-17 created £3.4bn in "social value"