Hosting in BRIC Nations

The “BRIC Nations” – Brazil, Russia, India and China – represent four of the largest and fastest growing economies on the planet. A report by Goldman Sachs in 2001 predicted that the combined markets of the BRICs would overtake the combined economies of the current richest countries of the world by 2050. As global economic growth pauses for breath, this prediction is getting closer to reality as the BRICs continue to grow at incredible rates.

The leaders of the BRIC countries photographed in
Hokkaido, Japan in July 09, 2008. (Photo by M Asokan)

We only need to look at the patterns of where major events are being hosted to see that the BRICs are already firmly centre stage. With the 2008 Olympic Games in Beijing, the 2010 Commonwealth Games in Delhi, the 2014 FIFA World Cup in Brazil and the 2014 Winter Olympic Games in Sochi, four of the world’s major international sporting events will have been hosted in all four of the BRIC economies within a short six year period.

Jon Tibbs of JTA, who helped to secure Sochi’s hosting of the 2014 Olympics, says: “There is an increasing tendency for major sporting federations to move their highest profile events to emerging economies. The world cup in Brazil is further evidence of how major sports events are prepared to move to emerging economies.”

The BRICs present major benefits for event owners. Luis Carulli, head of marketing at IAAF, says: “We approach sponsorship with a very open mind and have long ago stopped concentrating exclusively on the traditional markets. We have one major sponsor coming from Russia (VTB) and have had discussions with a couple of Chinese potential sponsors. We are also looking at opportunities in Brazil and India. In China we organised a youth event in 2006, we also organised an event in India recently and we will have our 2013 World Championships in Russia. This is a demonstration of the importance that the IAAF attaches to the globalisation of athletics.”

The BRICs also present massive opportunities for international suppliers of products and services. Matthew Astill, CEO of Cavendish Group and owner of www.bric.com, says: “The massive investment in infrastructure in the BRIC economies is attracting a large and growing influx of overseas suppliers, who can directly access buyers in these markets through our various media offerings.” As the leaders of the BRIC countries meet in Russia for the first BRIC Summit on June 15 2009, Host City reports on what this changing pecking order means for the world of major events.