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by Chia Han Keong
KUDOS to the Singapore sports industry for reaching the $1-billion mark in its contribution to the Republic's economy last year.
Here's even better news: With a slew of world-class events lined up for the coming years - such as the next four years of SingTel Formula One Grand Prix races and the inaugural Youth Olympics in 2010 - that mark is set to be overtaken repeatedly.
What's next for the industry?
The current economic downturn has thrown up a big challenge: How does it retain the event sponsors, some of whom are hesitant to splash as much cash as they had before?
It boils down to how many eyeballs the events can attract. Singapore?s strengths lie in its top-notch organisation and facilities.
Top golfers such as Phil Mickelson and Annika Sorenstam have given the country's flagship tournaments - the HSBC Women's Champions, the Barclays Singapore Open and the Lexus Cup - high praise for their excellent standards of hosting.
The Singapore GP has also garnered accolades, the latest being the Pioneering and Innovation Award at last weekend's Autosport Awards in London.
All this makes it easier to attract fans eager to experience high-quality events. And once sponsors see that sports fans are flocking to the events or tuning in to watch at home, they can be persuaded to maintain their presence.
Sports purists may scoff, but if certain formats make for better media coverage (such as matchplay golf or Twenty20 cricket), then they should be seriously considered.
Coupled with the country's impeccable organisational know-how, these steps will serve the Republic's burgeoning sports industry well in the trying times ahead.
hankeong@sph.com.sg
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