As part of our approach we shall focus on where is large scale global market opportunity and demonstrably strong UK capabilities, such as sports marketing and consultancy services...
London, UK (PRWEB UK) 15 July 2013
The UK's professional and business services (PBS) sector is a global success story and the growing UK sports marketing and consultancy services segment is set to be worth in excess of GBP 1bn over the next decade in the wake of the phenomenal success of London 2012.
Ardi Kolah's independent report - 'Evolving capabilities of sports marketing and consultancy services in the UK and the opportunities in global markets for these services to 2022' (July 2013) has been referenced by the British Government and has influenced the Department for Business Innovation and Skills (BIS) strategy for supporting PBS sector in the UK.
Overview of the Report
1. Sports marketing and consultancy services are an important and fast growing part of the UK’s professional and business services sector.
2. UK sports marketing and consultancy services are forecast to be on course to surpass GBP 1 billion in revenues by 2022.
3. There is large scale and growing global market opportunities and the research identified and evaluated 55 non-recurring major global sports events scheduled to 2022. These offer the prospect of an estimated GBP 5.9 billion worth of expenditure opening new business opportunities.
4. The UK sector is well placed to compete for these opportunities. The phenomenal success of London 2012 provides an unrivalled “shop window” for our excellence in sports and event-related services.
5. The UK sector forms an eco-system of business services with sports and entertainment content at its heart. It’s highly fragmented and mainly comprises small and medium-sized businesses in three broad areas: sports marketing agencies and advisors, marketing services providers, and infrastructure, technology/media and logistics providers.
6. The UK sector is growing strongly: currently valued at an estimated GBP 500-750m, its forecast to surpass GBP 1bn in revenue by 2022 and is looking increasingly beyond mature European markets to opportunities in fast growing economies in Asia and the Middle East.
7. Business interviewees for this research were uniformly positive about future growth prospects for the UK industry to 2022.
8. The large scale operational and infrastructure budgets associated with forthcoming major global sports events are expected to open incremental business opportunities for the UK sector.
9. Growing economies are using sport as a catalyst to significant inward investment and tourism, e.g. FIFA World Cup Qatar 2022.
10. Sports sponsorship is seen as a powerful vehicle for global brands to advertise and connect with consumers - especially in growing economies like China, India, Russia and Qatar.
11. The success of London 2012 - the best showcase for the UK sector in a generation.
12. The impact of new technologies – opportunities and challenges in the “entertainment economy”, e.g. engagement of users via mobile devices and “second screen” viewing opportunities.
13. There is increasing recognition of the contribution of women consumers in sports marketing.
14. There are 55 non-recurring major global sports events to 2022 offering an estimated GBP 5.9 billion worth of expenditure in incremental business opportunities.One third of these events will be hosted in Western and Northern Europe.
15. The top five national markets, ranked by the estimated values of events they will host, are: Qatar – GBP 1.7bn, e.g. FIFA World Cup 2022; Russia – GBP 1.4bn, e.g. Winter Olympics & Paralympics 2014; FIFA World Cup 2018; Brazil – GBP 1.3bn, e.g. FIFA World Cup 2014; Olympics & Paralympics 2016; South Korea – GBP 0.5bn, e.g. Asian Games 2014, Winter Olympics & Paralympics 2018; France- GBP 0.3bn, e.g. UEFA European Football Championship 2016.
16. Research contributors to the Report identified the following issues which impact on the growth of UK sports marketing and consultancy businesses: the challenges of establishing local partnerships when targeting new overseas markets; getting to grips with unfamiliar legal frameworks in overseas markets, e.g. contract law, intellectual property; the challenge for smaller businesses to find the resources for exploratory visits to potential clients overseas; and growing international competition for the supply of services to major events, included some based on subsidy.
17. The UK sector is encouraged to make the most of the “London 2012 effect” as a catalyst for securing new business overseas.
18. It is important that the British Government ensures that the UK continues to host large sports events to showcase our experience and expertise to international markets.
19. The UK sector must continue to build relationships with potential overseas clients to unlock new business at forthcoming global sports events.
20. The UK sector must secure and sustain local partnerships in targeted overseas markets and deliver incremental services value by partnering with clients on their terms, e.g. to transfer knowledge/skills to them.
21. The UK sector needs to achieve a stronger collective marketing approach in order to target new business in overseas markets.
22. The UK sector needs to work alongside the Government that has a cohesive enabling/facilitation function that includes co-ordinating trade promotions, advice and mission activities.
23. A new standard industry code (SIC) should be considered for the UK sports marketing and consultancy services segment given its importance to the PBS.