Approaches to Evaluating the Economic and Social Value of Sports

Sport is a key element for the development of society, and there is increasing interest in measuring this impact. Cost–Effectiveness Analysis (CEA), Cost–Utility Analysis (CUA), and Cost–Benefit Analysis (CBA) have been traditionally used to evaluate the economic impact of sport interventions and programmes. However, the Social Return on Investment (SROI) model, based on CBA, has recently attracted attention in the field of physical activity and sport to quantify the social value of these activities and justify public investment. Also, social CBA and SROI have been used to quantify the effect of the implementation of public policies that promote an active living in domains such as health, education, and wellbeing. Given the need to choose between alternatives in the face of limited resources to invest, these methods are key tools for decision-making and, therefore, in the promotion of sports in society.