Factors detemining the economic contribution of the country's sport.

Purpose of the study: To identify factors that determine the economic contribution of sport. Problem of the study: What are the main factors that determine sport’s economic contribution to the national economy? Object of the study: Factors that determine the economic contribution of country’s sport. Study methods: An analysis of statistical data and an expert survey – interview as a qualitative investigation method were used in this work. Conclusions: 1. A theoretical analysis of relationships between the sports industry and economic factors has shown that, theoretically, sport can have a considerable impact on a national economy, starting with statistically confirmed and validated (direct) impact and ending with an impact that is difficult to quantify and to prove theoretically (indirect) impact. Only direct indicators can be calculated and their statistical values can be provided. 2. It has been established, through an analysis of the dynamics of the impact of the sports industry on Lithuania’s economy in 2012 – 2017 and based on sport statistics, that the economic contribution of sport has increased 7 percents during this period. According to the information available from Lithuanian Department of Statistics, indicators of the sports industry are increasing every year, which shows positive trends. 3. An evaluation of the scope of the economic impact of sport on Lithuania’s economy and the relevant determining factors has shown that there is a strong correlation between the economic impact of sport and the GDP. The determining factors of the economic impact of sport include the standard of living and competitiveness. These indicators are also referred to by experts, according to whom they both are determining factors, however, no sustainable relationship between the dynamics of innovation in the country and the economic impact of sport has been established by means of a correlational analysis