It is foreseeable that soccer fans all over the world will be so excited in November. The quadrennial World Cup is about to begin on November 20 and the fiery revelry has finally arrived! But the World cup is more than a sports event, it’s also a catalyst for the world economy.
Football revelries always begin in the name of sports and end with economic calculation. That's what the World Cup is all about. The term "Economics of the FIFA World Cup" expresses the FIFA World Cup has a significant impact on the global economy.
As the world's largest single sport, football has over 3.5 billion fans worldwide and has been described as the "17th largest economy in the world". IMARC Group expects the market to reach a value of US$ 3.87 Billion by 2027, exhibiting a growth rate (CAGR) of 4.10% during 2022-2027.
The World Cup is the most prestigious association football tournament in the world, as well as the most widely viewed and followed single sporting event in the world. How does the World Cup, the world's premier sporting event, attract the attention of all sectors of the world economy? And how does it keep fans (and not even just fans) around the world spending money during the World Cup? In recent years, football consumption patterns and industry innovation have been at an important tipping point, with the football industry and consumers moving away from a purely sporting and focused model and into a more entertaining and cross-border pan-sports era.
From an economic point of view, the quadrennial World Cup is an excellent platform for global companies to launch their sports marketing, and all companies should not miss this opportunity to create awareness, communicate their brand values and promote themselves well.
The quadrennial World Cup has already become a global carnival event, carrying a strong commercial demand for companies and brands. In the post-epidemic era, brands are eager to leverage the event to reveal a lot of marketing to capture the minds of consumers and drive back weak business. This year's World Cup in Qatar is the perfect time for companies to rebound. Firstly, because it will be the first World Cup since the epidemic and will receive widespread media and external attention; and secondly, because the event has long been hailed as the "Twilight of the Gods", containing the curtain call for two of the 21st century's greatest stars, Lionel Messi and Sergio Cairo, on the World Cup stage.
In terms of marketing itself, top sporting IPs(Intellectual Property) are highly socially topical and can focus a huge audience on a public topic in a short period of time. Global, positive and commercially accessible topics are even rarer. FIFA expects the Qatar World Cup to attract a record global audience of over 5 billion viewers.
Football belongs to everyone who loves it, both on and off the pitch, and BUKA hopes to use its power to enable more enterprises to deliver the excitement of the World Cup to their customers, bringing constant surprises to them with stable communication services.
In the future, BUKA will also continue to help enterprises to develop efficiently, making global enterprises to enjoy convenient marketing channels and intelligent communication solutions.
service@onbuka.com
service@onbuka.com
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