A new report claims there is £5.9 billion worth of new business from sports events in the next ten years, with security service companies set to be among the biggest beneficiaries.
The ‘Global opportunities for sports marketing, infrastructure and consultancy services to 2022’ report, penned by renowned sports business author Ardi Kolah, identifies export opportunities for companies in various fields.
“We have analysed 55 one-off major sports events from around the world that have genuine new business potential over the next ten years and the opportunities are enormous, ” says Kolah.
“Major events are getting bigger as countries now use them to help regenerate cities and project their image on an international stage. As such the scale of new build and renovation of facilities is unprecedented. The report identifies 149 new venues either being planned or under construction as well as dozens of stadia earmarked for renovation to host major events. The biggest headache for event organisers is projects that run late and over budget. They are therefore increasingly looking to experts in the field with a good-track record for delivering.”
The report, published by International Marketing Reports, analyses the progress of each major event in terms of timings, the bidding process, the facilities and services required, the expected budgets and the cultural and business issues that contractors need to be aware of.
“One of the major markets identified is Russia,” says Kolah. “There is a perception that it is very difficult to land contracts in the country, however, the research shows that there are more than 70 international companies that have won contracts relating to the Sochi 2014 Winter Games and 2018 World Cup. The report explains the opportunities and the processes for winning business in Russia and all the leading global markets.”
Kolah also says that the £5.9 billion worth of opportunities could actually be considered as a conservative estimate if the infrastructure surrounding some of these events is taken into consideration:
“If you look at Qatar, for example, the total budget allocated for the 2022 World Cup and the ‘Qatar National Vision’ is £204 billion. Although most of this will be spent on construction, there is a significant security element involved in delivering and running the projects and the majority of the business will be awarded to international companies. “