international businessWhat impact do professional sports have on INTERNATIONAL business?
Probably the professional sport that has the biggest impact on international business is soccer. Soccer is immensely popular in many countries, and players often play for teams in countries that are not their own. The World Cup is, of course, a huge commercial event, as are many lesser international competitions. Any business that could successfully tie itself to popular players, teams, or events would be making a very wise business decision. Here, for instance, is a link to a list of sponsors of the forthcoming soccer world cup:
I would expect that there is a great deal of impact on international business through sports. I can imagine the impact of sports equipment that is manufactured in other countries. I would also believe that when sport competitions go to other countries, the influx of visitors and athletes would have an effect on goods and services consumed/used, and commercials on television, viewing rights, promotional goods, employment, etc. The impact that sports have in this country would be similar when a sports team travels abroad to compete on "foreign" soil.
In the case of football, or soccer, the biggest clubs make decisions explicitly based on expanding their market presence in Asia, South America, and the US. English Premier League, Italian Serie A, and Spanish La Liga teams regularly do preseason tours of the US, South Africa, China, and elsewhere to sell jerseys in massive markets. They reap millions off of TV rights in these countries. It is no secret that football has emerged as the global phenomenon that it is (and nothing else comes close to rivalling it) in the context of globalization.
Sports are a huge business. For example, the world's most famous sport is soccer. So, when the world cup comes around, there is a lot of business going on. The host country gets a huge benefit in terms of the economy as the world comes to visit. Tourism, the service industry, and many other areas of the economy can be seen to pick up. Airlines, as you can imagine, also benefit. Then there is all the money that comes from advertisement, endorsements, and the like. In short, international sports can be very lucrative for many.
Many more sports are coming to be involved in international business. You have cricketers coming from all over to participate in the Indian Premier League. In soccer/football, you have all sorts of foreigners (Russians, Americans, Arabs) owning teams in the English Premier League. There is even a Russian owner of an NBA team. Since sports are so popular, they are a good target for international business.
A massive impact is had on international business by professional sports. This is shown through the current manifestation of a personality cult, where a sportsman such as David Beckham or Cristiano Ronaldo can actually earn more through advertising than they can through their prowess at football. Sponsorship in professional sports is a massive business and clearly there is a huge link between the two.
Advertising dollars are also a huge factor in all business. Each country has its own sports teams which would be televised, plus there are many American professional teams and players who have international following, and advertising dollars are going to flow all over the world with big events like the Super Bowl. the World Cup, the Olympics, and the like.