Major sports events offer a gateway to the world for UK companies
Sport is a huge global industry and more and more countries are looking to spend money on hosting major sporting events. Major sports events offer a gateway to the world for UK companies.
According to Sportcal’s Global Sports Nations Index for 2013 over 75 countries have hosted a major multi-sport games or a world championship in the last six years. In 2014 more than US$65 billion will have been spent on hosting major sporting events. While the winter Olympic Games in Sochi account for over 50 per cent of this spend, there are more than 70 other major multi-sport games or world championships taking place in 2014.
Turkmenistan, for example, is spending over US$5 billion on developing an ‘Olympic’ park in the heart of Ashgabat for the Asian Indoor and Martial Arts Games. They plan to start work on another such complex on the Caspian Sea in the next few years.
There is more to sport than just the Olympics and the FIFA World Cup. Sportcal’s Global Sports Nations and Cities indices analyse over 450 major sporting events that take place over a four-year cycle covering over 90 sports. And this doesn’t include continental events, world series or major national events.
For many years, a number of UK companies have successfully targeted and operated in the major sports events ‘sector’. They have developed extensive track records and positions globally as the leading firms in their field.
London 2012 helped many more firms gain experience in the global sports events sector, the widely acclaimed success of the London games serving to endorse their credibility and reputation.
And those firms will now be realising that, while UK Sport’s Gold Event Series will encourage a legacy from London’s Olympics of more major events in the UK over the period 2013-19, the rotational nature of major sports events means that the greater opportunities will be overseas.
Major sports projects therefore offer a huge opportunity for UK companies that are looking to export their skills and services overseas. But they also present a series of challenges.
The Olympic Games in Rio de Janeiro in 2016 and Tokyo in 2020, and the FIFA World Cups in Russia and Qatar offer significant but challenging opportunities for many UK companies. But there is so much more to sport than these ‘mega’ events.
Understanding how the sports industry works, where the opportunities are – and indeed which to focus on – and how to contact the right people, is a complex and time-consuming process. Every week, millions of dollars worth of contracts are issued by governments in connection with their major sports events.
There is no short cut to research; every company needs a plan, and the best ‘radar’ to inform that plan. And companies like Sportcal, which is recognised as one of the leading providers of sports market intelligence, cover a wide range of sectors including major events, media and sponsorship for over 190 sports.
Sportcal’s Events and Bidding services provide insight into the major sports events business. The historical view includes extensive analysis of past events, providing in-depth details illustrating the relative characteristics and the scale of these many different events.
The forward look shows where these opportunities lie in the next 10 years, with detailed analysis of which events have been awarded to which host cities – including contact details and a procurement noticeboard – and which events are currently in the bid process and who is bidding for them. The market intelligence and narrative is kept up to the minute with a global News service offering more than 5,000 new articles every year.
Sportcal works closely with all the major international governing bodies of sport and their event organisers and can provide access to one of the most in-depth guides to major sporting events and global sports construction projects in the world.
With informed planning and excellent ‘radar’ to help them navigate the way, UK companies can continue their journeys to growth in the global sports events market with confidence. Of course there are many more steps along the way to success; such as: understanding, first-hand, the chosen market, its custom and practice, financial and legislative frameworks; gaining local contacts and connections; and finding local partners. UKTI and its contracting partners such as British Expertise, with their programmes of briefing and missions can provide help and support in these activities.
For further information on the Sportcal services click on the link below of contact firstname.lastname@example.org or telephone +44 (0)20 8944 8786