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As spring break passes for students and people around the world begin to get a taste of warmer spring weather, the global ski industry will work to close out the winter season with strong earnings and participation.  Millions of people elect to swarm to the snowy peaks of ski resorts each year, taking on the slopes in hopes of finding leisure, winning a competition, or satisfying their adventurous spirit.  With the recent passing of the 2018 Winter Olympics in PyeongChang, China, the industry is hoping to capitalize on recent attraction to winter athletics in previously lacking regions like Russia and previously mentioned China.

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Electronic sports, or more commonly known as “eSports” are an online competitive platform allowing video game users to compete through online gaming. Although people have been playing computer games for over 30 years, digitalization has permitted players to gain a following of millions of fans. The global connectivity has also allowed online gaming to become more organized, competitive, and professional.

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The sport of baseball boasts ties across the world, carrying tradition and holding economic value in countries like the Dominican Republic, Japan, China, and the U.S. For countries around the globe, baseball has been, or is, necessary to their way of life. Recently, however, baseball has seen a substantial decrease in its popularity at all levels. From Major League Baseball to Little League, fewer people are participating in, purchasing goods from, and supporting baseball games. This has a direct influence on many global economies, specifically regarding the equipment with which baseball is played. The question for many retailers and consumers is, what does the future hold for the sport of baseball and its business operations?

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There is no doubt that sports never fail to bring the world together. It provides a platform for national unity and city pride. Hosting international sports events such as the Olympics, Fifa World Cup, or the Super Bowl is the reason for a significant amount of economic development in countries. However, these economic developments can be beneficial but also very costly for host countries. 

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The Olympics have been a household staple occurring biannually for multiple centuries now. In less than 100 days, PyeongChang, South Korea will join the ranks of other cities who have had the honor of hosting the Games. This event kicks off with opening ceremonies starting on February 9th, with competitive events beginning on the 8th, till the 25th with 102 events in 15 sports. This year will be the first year for big air snowboarding, which is replacing the parallel slalom, mixed doubles curling, mass start speed skating and mixed team alpine skiing. However, with the hype of Olympics still growing, through social media, ticket sales have not been following the same trend.

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Part four of this week's blog series explores current events in the sports sector of the leisure industry. 

A few trends are expected to drive the sports industry in 2017 such as the rapid change in the sports media landscape of content creation and distribution rights due to consumers shifting from cable to digital media. Other trends expected are innovation for game days by enhancing the fan experience outside of the sports venue and the use of augmented and virtual reality to enable teams to become more personalized and integrated with sports fans’ daily lives. In addition, it is expected that data and analytics will continue to drive the more business focused side of the industry.

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The Fédération Internationale de Football Association, or FIFA, is the international governing body of soccer, the world’s most popular game. FIFA has been under massive scrutiny from the fans, media, and government officials in the past month over the re-election, and subsequent resignation, of their embattled president and corruption charges leveled against nine current and former top FIFA officials. These charges culminated in the arrest of seven FIFA officials in Zurich, Switzerland on May 27th. These officials are now facing extradition to the United States on broad corruption charges, which include racketeering, wire fraud, money laundering, and tax evasion.

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Sports are big business across the world. The recent agreement to sell the Los Angeles Clippers, of the NBA, for $2 billion is the largest amount paid for a sports franchise in the history of the United States. Across the world things are no different. In 2012, for the first time, a sports franchise issued an IPO and went public. Manchester United, an English soccer club, currently holds a $2.75 billion market cap, making it one of the most valuable sports franchises.

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A few months ago, Brazilian authorities officially announced that $2.3 billion will be spent on infrastructure projects alone for the 2016 Rio de Janeiro Olympic Games. These costs will rise as projects are added along the way, and efforts to solve Brazil’s infrastructure gap continue. The pressure on the country continues as Brazil will be the first South American country to host the Olympic Games. On top of the 2016 Olympics, Brazil is also hosting the 2014 FIFA World Cup this summer and has experienced delays in its infrastructure preparation. Therefore, the focus on infrastructure development has sharpened in Brazil. Now the question is: How will Brazil’s infrastructure growth impact its long-term prospects as an emerging country in the global economy?

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Russia has spent more than $45 billion hosting the most expensive Winter Olympics in history with the hope of boosting its economy. People are beginning to doubt if this larger expenditure is really worth it. Although people have already seen the Russian ruble appreciate in value, they are still unsure if the Olympics will take Russia out of the time when the economic growth slowed down to only 1.3 percent last year. This article will analyze the economic data of several countries after hosting major international sporting events so you are able to predict how Russia’s economy will perform after the Winter Olympics.

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Just how much does it cost to host an Olympics? The 2014 Winter Olympics in Sochi, Russia are more expensive than every other Winter Olympics combined. The cost is projected to be around $51 billion, which is ten million dollars more than the 2012 Summer Olympics in Beijing, China. This money goes towards construction, transportation, hospitality, security, lodging and more. For events like the Olympics, it is starting to look like a waste of money for all of the over-extravagant, luxurious decorations and celebrations that take place. It has become less about the athletics, and more about which country can make their Olympics look the best to the world. A country like Russia has a lot larger problems that it should allocate $51 billion to, especially if they are trying to clear up their image.

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Is it possible to predict the number of medals each country will win in the Winter Olympics by using a combination of economic indicators?  Without economics, predicting the winners would involve an extensive amount of knowledge on numerous sports and athletes. By using an economic model, one does not need extensive knowledge about each sport. In a recent study, Madeleine Andreff and Wladimir Andreff tried to predict the number of medals a country could win in the Winter Olympics by using economics.

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With the lighting of the ceremonial torch in Sochi, Russia last Friday night, the 22nd Winter Olympic Games have officially begun. Beyond capturing the world's attention throughout the month of February, these Olympic Games, like other major sporting events, have profound economic and political effects that resonate throughout the entire international system. Therefore, as the world's eyes turn towards the showcase of some of the world's finest athleticism taking place in Sochi, this post will explore some of the less eye-catching, yet equally significant, aspects of events like the Sochi Olympics and their unique place within international markets and politics.

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Here at Michigan State University, basketball is not simply a sport; it has its own culture. Spartan basketball is a way of life. If you disagree, you need only watch the Izzone student section for a few minutes to understand the passion for MSU basketball. This season, though, has been somewhat different for the stars of the basketball team.

The team got a facelift in technology when they were given new software for free that enables head coach Izzo to almost instantly send recaps of plays with a detailed analysis to the players on any one of their devices. This sort of coaching technology has skyrocketed recently and is starting to make its debut in foreign countries.

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The 2012 Summer Olympics will undoubtedly have a major impact on the British Economy. Prime Minister David Cameron has already stated that the Olympic Games will give Britain a 13 billion pound economic boost. With the 2012 Olympics in London shaping up to be the most expensive games in history, much is expected from the Olympics in terms of economic growth for the United Kingdom. However with all this talk about its impact on Britain, the Summer Olympics may have an even greater impact on the global business world.

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In the business world, sports may be best recognized for the many benefits they offer to individual businesses such as sponsorships, brand building, venues for advertisement, and marketing opportunities. However, sports also have major impacts on economies all around the world. It’s no surprise that international sporting events like the World Cup and the Olympics greatly affect the economies of host countries. These economic effects can be positive or negative and can have implications not only on a regional level but a global level as well.

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Sponsorships are a huge part of both sports and business. Each depend on the other to gain the benefits sponsorships provide to each party. Businesses look forward to the increased publicity and sales, and athletes, teams, and sporting events count on sponsorships for funding. Still, for businesses, the monetary benefits of a sponsorship can be somewhat difficult to quantify. Yet, countless businesses still participate in sponsorship deals to increase publicity and get their name and logo out there as much as possible.

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The world of sports is closely intertwined with the world of business.  Sports franchises and leagues function to create an economically-viable product for profit.  Businesses in many industries utilize sports entertainment for its unmatched marketing opportunities.  Global athletic events bring tourism, trade, and international attention to host cities and countries.  Businesses could not function without sports and sports could not function without business.  This week, the globalEDGE blog will take a closer look at business and economic impacts of sports around the world. 

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With the excitement of the World Cup evident in South Africa, there is also great pride and unity among locals.  The energy of the World Cup has spread all over the country, and has even hit the poorest areas.  This energy has provided harmony among citizens and although many areas in South Africa are still suffering, right now everything is about football.  Problems such as poverty stricken homes and jobless citizens still exist, but they are being put on hold for a very important event for South Africa.  During the game between Mexico and South Africa, over 3,000 locals gathered in a park to enthusiastically watch the game. The World Cup has greatly improved the moral of South African citizens. 

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As the 2010 World Cup kicks off, there are a lot of interesting stories not only on the pitch, but on the business side of things as well. They include fake goods and counterfeit products, local food vendors being pushed out, extra investments, 'green' jerseys and huge sponsorship deals. This week we will be writing about the impact that the World Cup has on South Africa, sponsorships, copyrights and the economics of running an event such as a World Cup. We hope that you'll join us this week!

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Senegal is one of the world's poorest countries (17th to be exact), where the average annual income is $980 according to the World Bank's latest figures. This is increasingly concerning as their major industry, fishing, is declining due to over-fishing and intense competition from Asia. But there is a booming industry which is primed for growth and provides investment opportunities in Senegal, and I would say most people wouldn't be able to guess what it is. That industry is wrestling, and it is starting to grow much more popular than football (soccer) in the country. It used to be a pastime of the farmers in the region, who could only work on farming during the rainy season. When they came to the cities to work, they found there was quite an audience ready to watch them wrestle, a traditional African sport which has transformed to take on elements of martial arts and boxing. Now, a winner of a big Lutte (as the Senegalese call it) match can make up to 100 million West African CFA francs ($205,000)! Some bigger names will even make a lot just by participating.

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For years, Cricket has been India’s most popular sport, with millions of people following and supporting the teams. In India, Cricket has a value of over $1 billion! However, football fans, and value, are growing in numbers as well. Football is valued at roughly $65 million. The sport still has quite a ways to go to catch up with Cricket, but the die hard fans in the northeast part of India are trying to make that happen.

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The 2010 FIFA World Cup is coming to South Africa. Along with it are several business opportunities! As the most popular sport in the world, football brings countless opportunities for many industries to take advantage of. The World Cup in particular attracts business people from all over the world because of its expansive publicity and popularity.

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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.

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One of the most well-known soccer teams in the world is the Spanish team Real Madrid. It is mostly famous for being able to afford the best players worldwide – Beckham, Di Stefano, and Zidane in the past and Kaka and Ronaldo in the near future. Recently it offered a world record amount (over $100 million) to Manchester United for their most recognized player – Cristiano Ronaldo. A few months ago some European teams were faced with the possibility of bankruptcy but this has never been the case with Real Madrid. Many wonder where Real is getting all this money from when the world is in a recession?

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Football, or soccer as the Americans call it, especially in England is the second most important thing after family in life; it is like a religion. Europeans follow it closely because it is part of their lifestyle. But what happens when t-shirt sponsors go bankrupt? When team sponsors suffer huge financial setbacks because they hold stakes in Icelandic banks?