Chinese companies grab business opportunity at FIFA World Cup in Russia

KUALA LUMPUR: The 2018 FIFA World Cup in Russia opens doors for its Chinese sponsors to penetrate foreign markets and creating international business opportunities.

The 2018 FIFA World Cup will start on June 14 to July 15.

According to Euromonitor International, a global market research company, four Chinese companies will be the sponsors for the upcoming World Cup, compared to only one, Yingli Solar – in Brazil 2014.

The companies are Mengniu, Hisense, Vivo and Wanda -dairy, consumer electronics and consumer appl iances respectively.

By affiliating with the World Cup, Chinese businesses expect FIFA to help spearhead entry into global markets through increased visibility on the pitch during the event.

This is an opportunity to grow brand-awareness, solidify brand loyalty and generate positive associations and conversations among sports fans.

Sports industry manager at Euromonitor International, Alan Rownan said: “The increasing number of Chinese investments and sponsorship deals in European footbal l shows that Chinese business entities are acutely aware of the powerful socio- economic potent ial of invest ing in professional sport and in particular football.

Up to one million tourists are expected to visit Russia during the event, and 68 per cent of the people surveyed by Euromonitor will watch inperson, at home, or elsewhere – making the World Cup one of the top global sporting event. — Bernama