By Koh Yizhe and Les Tan

Those who have just finished their GCE O Levels and are dreaming of a career in the sports industry can take encouragement from the fact that the Singapore sports industry is now worth over S$1 billion.

The sports industry crossed the S$1 billion mark in 2008, with the Formula One Singapore Grand Prix contributing about S$100 million alone, according to a Straits Times story (Sports events bring gains; Wednesday, December 10, 2008).

“The sports scene in Singapore has never been more vibrant and dynamic than what we have today, and this presents tremendous opportunities for those who want to carve a career in sports. A sports career can be rewarding and exciting,” said Mr Oon Jin Teik, chief executive officer of the Singapore Sports Council in the lead up to the 2008 Singapore Sports Conference last year.

The Singapore government is targeting S$2 billion for the Singapore sports industry by 2015 with 20,000 employed in the sector. Currently, 14,000 work in the industry.

The Ministry of Community Development, Youth and Sports (MCYS) is aiming to make Singapore a top-ten sporting nation in Asia with 50% of the population participating in sports activities.

MCYS set up a Singapore Sporting Fund in 2001 with S$500 million and since then, another S$300 million have been added to that fund.

The fund invests in the National Sporting Associations (NSAs), the Singapore Sports School, Team Singapore, and the staging of international events.

The sports sponsorship scene saw substantial new corporate involvement in 2008. The formerly absent local banks made their entry with POSB putting in S$1.4 million in the Everyday Champions Award while OCBC Bank is spending S$1 million for the Cycle Singapore event in February 2009.

UOB remains the only local bank outside of the sports sponsorship scene.

Before the entry of the local banks, the sports sponsorship scene was dominated by foreign banks.

Barclays Bank spends S$2 million annually on its sponsorship of the Singapore Open golf championship while HSBC Bank entered the Singapore scene with its Women’s Champions golf tournament.

In running, Standard Chartered Bank has established an ongoing tie up with the Singapore Marathon and spent S$2 million on the 2008 edition while Nike created a new event, the Human Race 10k.

In triathlon, insurance company Aviva has an ongoing association with the Ironman 70.3 Singapore but they are apparently reconsidering their sponsorship of the Singapore Badminton Open (Aviva Open Singapore).

Major Sports Events in Singapore
2009
Asian Youth Games
Men’s Junior Hockey World Cup
ITU Triathlon World Championships Series

2010
Youth Olympic Games

2011
Netball World Championship

2012
Twenty20 cricket
races at the new Changi motor sport track

For more events, see the Red Sports calendar.