Many sporting events have seen a decline in fan attendance or have had to lower admission prices as more people are losing their jobs and consider attending sporting events a luxury. Furthermore, major companies have cut their sponsorship budgets. However, more and more sports are finding a solution to finance problems by advertising and investing in Asia.
Asia provides an incentive for major global brands and sports because of the huge population and the many sports fans. Furthermore, businesses are finding a high return on investment and low cost of media, as well as strong sponsorship from the beverage sector.
Soccer clubs such as Manchester United and Liverpool have been merchandising in Asia and have therefore earned good commercial revenues. Furthermore, basketball stars such as Kobe Bryant have been touring Asia in order to promote themselves, their teams, and sport. Another strategy sports have been employing lately has been recruiting players from Asia. This has proven a successful strategy as it increases the interest of fans from Asia.
The fact that sports find Asia as the next frontier is beneficial for them as well as for business in Asia. If the connection between a business and sport works, it could help draw a company sponsor into the awareness of the region.