Friday, 20 June 2008

Global sports market grows phenomenally

According to Pricewaterhouse Coopers (PwC), spending relating to sporting events (with the most conspicuous ones being the Olympics and the World Cup) will grow revenues to KShs. 9.165 trillion ( approx. US$ 141 billion). This is will come mainly from growing broadcast rights deals ( TV, radio and related media), mobile and Internet spending to push this growth. Some of the regions expected to contribute to this include Europe especially given its allure of the football(soccer) growth both domestic and continental, Middle East- which has seen much investment by the oil-rich Arabs more than triple in the last 10 years alone.
Africa is also likely to be a shoo-in given the hosting of the World Cup in 2010 which ought to give it more credence in hosting major sporting events ( hoping no further political quagmires are encountered between now and then).
The US will continue to account for the largest portion of sports revenue, hitting $69.1 billion in 2012, compared with $46.9 billion in Europe, Middle East and Africa. Revenue in Asia Pacific, Latin America and Canada are expected to reach $19.4 billion, $3.9 billion and 1.3 billion, respectively.

Mr. Kimunya Sir, see what sports can bring to on the table ? Better start acting right man.

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