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Global sports spending 'to continue its rise'
Accountancy News |
26/05/2010
The global sports market is set to witness a strong economic recovery following the downturn of 2008-09, according to a new report.
Research conducted by Big Four accountancy giant PricewaterhouseCoopers (PwC) indicates that worldwide spending will increase from £97 billion last year to £113 billion by 2013.
The firm says that the 2010 World Cup in South Africa and London 2012 Olympic Games will help contribute to a 3.8 per cent compound annual growth rate.
PwC has predicted growth across all territories, with Latin America leading the way with a 4.3 per cent expansion over the four-year period.
North America (3.6 per cent), Europe, the Middle East and Africa (4.1 per cent), and the Asia/Pacific (3.9 per cent) region will also continue their development, the firm forecasts.
Julie Clark, UK head of sport at PwC, said that even with the effects of one-off events removed from consideration, an underlying trend of "steadily rising spending" is emerging.
She claimed that long-term contracts had, to a degree, insulated media spending from the downturn, while ticket and sponsorship revenue also remained high.
Posted by John Lynes
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