LONDON--(BUSINESS WIRE)--According to global market research company Euromonitor International, the 2018 FIFA World Cup opens doors to foreign markets, creating international business opportunities for its Chinese sponsors.
Sponsoring companies, Mengniu, Hisense, Vivo and Wanda, which trade in dairy, consumer electronics and consumer appliances respectively, are characterized by rapid growth in sales over the recent years but are highly dependent on the Chinese domestic market. By affiliating with the World Cup, Chinese businesses expect FIFA to help spearhead entry into global markets through increased visibility on the pitch during the event. This is an opportunity to grow brand-awareness, solidify brand loyalty and generate positive associations and conversations among sports fans.
Alan Rownan, sports industry manager at Euromonitor International comments, “The increasing number of Chinese investments and sponsorship deals in European football shows that Chinese business entities are acutely aware of the powerful socio-economic potential of investing in professional sport, and in particular football.” He adds, “Investing in football, especially the World Cup, may not offer immediate returns on investment, however, it grants them access to foreign markets, and can create business opportunities that extend well beyond the confines of sports-related products and events.”
Chinese support is paramount for FIFA, who lost a number of top partners following corruption accusations that shook the organization in 2015. The 2018 FIFA World Cup will be sponsored by four Chinese companies, compared to only one – Yingli Solar – in Brazil 2014. Despite the changes, four out of five regional supporters remained host nation based.
Up to one million tourists are expected to visit Russia during the event, and 68 percent of the people surveyed by Euromonitor will watch in-person, at home, or elsewhere. This compares to 44 percent watching the PyeongChang 2018 Olympic Winter Games and 38 percent watching the UEFA Champions league, making the World Cup one of the top global sporting event.
Further insights will be discussed in the free webinar, ‘The Influence of the 2018 FIFA World Cup on Global Domestic Football Leagues’, hosted by Euromonitor on Thursday, June 7th at 3:00pm BST.
To watch it live or receive the complimentary recording, register here: https://bit.ly/2Jw9dyI
ABOUT EUROMONITOR INTERNATIONAL
Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.