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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Enock Katamba – Journalist | Founder of Uncovered Ug (uncoveredug.com)
Enock Katamba is a Ugandan journalist and founder of Uncovered Uganda, a digital online news platform covering health, national news, entertainment, celebrity gossip, music, education, business, sports, and international news. He focuses on delivering accurate, timely, and reliable information to keep the public informed.
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