The economic significance of sports for Germany is substantial. The heterogeneous forms of sports, such as active participation, organized sports in associations and clubs, and elite sports, exhibit a variety of positive tangible and intangible effects that are economically significant. Based on primary and secondary data as well as comprehensive literature research, the authors analyze for the first time all stakeholder-relevant areas of the sports sector in terms of their economic importance. It is demonstrated that sports should not be viewed merely as a cost factor or a recipient of services, but rather as an investment asset that can generate valuable economic, tax, and social returns.