Wednesday, May 31, 2023

Spain victorious in sports sponsorship

Sports sponsorship in Europe is set to grow to €20,690 million in 2022, with Spain and the United Kingdom being the fastest growing regions in the region.

The world of sports in Europe is growing, as the report “Sponsorship Market Overview” by Nielsen and the European Sponsorship Association (ESA) reveals, the European sports sponsorship market will grow by 4.3% in 2022, thus reaching a record figure of 20,690 million Gone Euro. The European regions experiencing the greatest growth are Spain with 14% and the United Kingdom with 10%.

The report highlights that the sports sponsorship sector continues to be a dynamic and resilient sector for another year, although it has not recovered to pre-pandemic figures, indicating the sector’s resilience to the effects of the COVID-19 pandemic. is clear in front of

2022 was marked by the resumption of face-to-face sporting and cultural events, which allowed the sports sponsorship market to achieve a record figure of 20.690 million euros.

Sports sponsorship experiences a phase of evolution

The growth is due to the fact that Europe is set to host important sporting events in 2022, such as the UEFA Women’s Euro Cup, the European Championships and the 2022 Commonwealth Games. The European region has also indirectly benefited from other sporting events outside Europe. Thanks to global events like the 2022 Winter Olympics and the FIFA World Cup in Qatar.

For their part, new Web3 formats and platforms have also had an impact on the development of the sector, as despite the difficult times cryptocurrencies have been going through recently, sports sponsorship deals involving these types of assets and their brands continue to grow. Are.

Spain is the country with the highest growth in sports sponsorship with an increase of 14%, followed by the United Kingdom with 10%. The rise of sports sponsorship in Spain is mainly due to the stabilization of the market after the ban on betting sponsorship and the commercial development of the main La Liga clubs.

For its part, the promotion of women’s sports and the increase in athletes as brand ambassadors also drive growth in the sports sponsorship market.

Future of sports field

The world of sports is in a moment of growth and innovation, as the Nielsen report points out, trends such as the shift in media consumption, or the increase in consumption through OTT channels, which in this sense become pillars of growth for the sector . For the future.

Bets such as blockchain or the metaverse within the world of sports sponsorship have great potential for the world of marketing. Among the main sponsorship trends are stability and increasing investment in women’s football, with a projected four-fold increase in sponsorship value by 2033.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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