Saturday, September 13, 2008

Cheers to the Business of Sports

Alot of people are waking up to the fact that sports is a fantastic avenue to promote tourism and to add to the GDP.
I've always lived in India, except for my current studenting here at the Asian Institute of Management (AIM) (Manila), and I still dint know that there was this mountain biking rally in Himachal which has been happening for the past three years! It felt so good to see this event in the news and to realize that it is a focussed, thought out event to boost tourism...big roads are crossed step by step....
Why should Sports be used?
Coz global sports is set to be a $141 billion industry by 2012 and the best part is I see it as an industry with a phenomenal 'multiplier' effect along with a crazy number of employment opportunities. And Asia has an important role to play... it's going to be a hotbed for sports with $19.4 billion expected to be its contribution. (source
The main elements in the Sports BUSINESS are: teams or rightsholders, broadcasters, sponsors, infrastructure providers (facilities / venues), promoters, athletes, organizers. Across the board corporates are getting into becoming rightsholders, sponsors, promoters, infra providers and organizers. There's even been talk about having a sportsperson index listed on the bourses, which I think is very interesting and worth a try.

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