With the world economy staggering back to its feet, it is only right that sports economy of India should also start getting out of its slump.Only recently did authorities actually start paying attention to the ever growing surge in the sports business in India. With IPL acting as a precursor in the Indian sports market, sports marketing companies have declared a growth of 20% in the business of sports as compared to the last year.
The upcoming Signature Golf Tournament is looking at a jam packed series and a completely choc-a-bloc calender. The corporates no longer shy off sporting events. There is an increase in sponsorship because of the increased acceptance of sports as a viable marketing source.
It is estimated that by the end of only this year, the sporting Industry would have contributed a whopping amount of Rs. 2000 crore to the economy. In fact, the industry is enthusiastically looking forward to the Commonwealth Games 2010 and the upcoming hockey world cup as both these events bring with them newer opportunities for the economy of India.
With companies like Bharti, going in for long term investment in sports by way of sponsoring the Champion’s League for the next five years, it is only prudent to expect many more good tidings.
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