Are major sporting events about sport or about something else? Sporting events are business:  big business:  “Over the years, one of the great economic boons to any major town or city has been major sporting events”.

The Olympic Games, the World Cup or the Super Bowl bring massive economic opportunities to an economy. Sporting events “infuse some much-needed vitality into local markets”. But how does this happen and why?

Sporting events are a popular place for businesses to advertise

Sporting events leverage millions, or multi-millions of dollars into an economy through “hotel reservations, bar and restaurant sales, snack and party supplies” etc.  Big brand events such as the Olympics or World Cup, can attract tourists, infrastructure investment and raise the profile of a community. These benefits incite massive competition for hosting and sponsorship rights for most major sporting events.  In professional sports such as the NBA and NHL, athletes become superstars with major commercial value.

So the next time you are watching the Olympic Games or the NHL, think about what is happening behind the scenes. The athletes and their teams are delivering far more than competition on the field: they are a prized economic engine for business, governments and communities.

Article Reference: Business Opportunities 

Picture Reference: Sporting Event