June 14, 2024

China gets top billing at Qatar 2022 World Cup

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Chinese brands are the biggest sponsors of the 2022 Qatar world cup after out standing American companies like  Coca-Cola.

According to Global Data, a London-based data analytics and consulting company.China’s sponsors have ponied up $1.395bn for the competition, which runs November 20-December 18, surpassing the $1.1bn spent by US companies,

Broken down on an annual basis, Chinese sponsorship is valued at $207m per year, compared with Qatari and US deals worth $134m and $129m, respectively, according to the data.

The rise of Chinese sponsors gives  President Xi Jinping’s dream of turning China, which made its sole World Cup appearance in 2002, into a football powerhouse through ambitious plans and targets, such as increasing the number of schools with football pitches 10-fold by 2025.

While the four Chinese sponsors of the 2022 tournament — Wanda Group, Vivo, Mengniu Dairy and Hisense — have relatively low profiles outside their home country, they are huge enterprises with multibillion-dollar revenues and thousands of employees.

Wanda Group, an industry-spanning conglomerate founded in 1988, and Mengniu, one of China’s largest dairy producers, have each made the Fortune 500 list several times.

written by @enock katamba

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