Asian Games 2023 generates over $65 million in sponsorship revenue, reveals GlobalData

Sponsorship remains key in supporting the Asian Games in cementing its status as one of the best continental events in the world. These partnerships ensure the Asian Games is expanding their continental and global recognition, while also allowing the brands partnering with it to take advantage of the exposure that comes with such an ever-growing event. For 2023, the Asian Games generated more than $65 million in sponsorship revenue from 31 brands, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, “The Asian Games 2023 – Post Event Analysis” reveals that in 2023, the event’s sponsorship revenue is topped by its deal with Tissot, worth $8 million annually. In return, Tissot serves as the official timekeeper of the event, promoting the Asian sport and continuing its involvement with the competition. The Swiss luxury watch brand’s partnership with the event dates back to 1998.

Joe Pacinella, Sport Analyst at GlobalData, comments: “The Asian Games’ deals with Tissot offer a huge source of revenue for the event and resonate with fans, which is the exact strategy behind the tournament’s sponsorship plans, aiming to boost fan engagement and increase exposure around the event and Asian sport both within Asia and globally with a luxury brand like Tissot.”

The event’s deal with Geely is the joint-second largest deal worth $4 million annually. As the event’s official mobility partner, the vehicle manufacturer was responsible for delivering new energy vehicles to the event, supporting transportation during the Asian Games.

The Industrial and Commercial Bank of China’s (ICBC) deal with the Asian Games sees the bank serve as the event’s official banking partner. The deal is worth $4 million annually, as per GlobalData.

Pacinella adds: “Yum China has a $1 million-a-year deal to serve as the official supplier of fast food to the Asian Games. As part of the brand’s deal, Yum China had themed KFC and Pizza Hut restaurants at the event. All restaurants at the event were themed towards the Asian Games to promote Asian culture globally and engage with fans present in Hangzhou.”

Brand logos were noticed across the two weeks in Hangzhou, with the attendance for this year’s event predicted to be high across the duration of the tournament, with fans paying from $13 to $136 for certain sports on different days.

Pacinella concludes: “Almost half of the Asian Games’ 31 deals are worth over $2 million annually, highlighting the high price for brands to partner with the tournament and demonstrating how good the exposure is for continental competition. This is also proven by the TV audience numbers, with Sony predicting over 100 million viewers in India.”

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