Sponsorships, ticket sales will float 2022 Olympics

Beijing officials say the city has the financial wherewithal to host an economical Winter Olympics in 2022 mainly because of market-based fundraising.

Boasting appealing promotional platforms for enterprises and loaded with marketing experience gained from the 2008 Summer Olympics, the 2022 bid committee predicted that 65 percent of the approximate $1.98 billion investment for competition and noncompetition venues in 2022 will be raised through marketing initiatives such as sponsorships, ticket sales and merchandise licensing.

Excluding shares from the International Olympic Committee's TOP sponsorship program, the Beijing 2022 bid committee is targeting $858 million in overall domestic marketing revenue, including $660 million from its sponsorship program and $118 million from ticket sales.

Given the consumer potential in China, experts say the target will be achieved with the opportunity for marketing partners to have strong returns on investment.

"We guarantee that Beijing 2022 will meet the revenue targets and secure the best returns for the IOC TOP partners, as well as national partners, in strict respect to all the IOC's and International Paralympic Committee's marketing rules," said Chen Feng, former deputy-director of marketing for the Beijing 2008 Olympic Games.

Wang Hui, deputy secretary-general and spokeswoman of Beijing 2022 bid committee, said it's guaranteed that hosting the 2022 Games won't add extra financial pressures to taxpayers.

Eight major sponsors have signed on for Beijing 2022, while a number of businesses have indicated their wish to financially support the 2022 Olympics.

Sales of tickets appear promising as well. If Beijing is awarded the 2022 Winter Olympics, the Games will coincide with Spring Festival that year. School breaks during that time would likely ensure that sales and attendance are strong, said the bidding committee.

Beijing 2022 has an experienced team that was involved in marketing campaigns for the 2008 Beijing Games.

sunxiaochen@chinadaily.com.cn

(China Daily 07/13/2015 page12)