Research Report: Building Relationship in Sports Business

Added on - 17 Oct 2019

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Megatrends: New wealth, New Talent
Table of ContentsIntroduction......................................................................................................................................2Nature of Megatrend........................................................................................................................2Significance of megatrend...............................................................................................................3Relation with other megatrends.......................................................................................................3Literature review..............................................................................................................................4Implications and opportunity...........................................................................................................5Conclusion.......................................................................................................................................5References........................................................................................................................................6
IntroductionIn this present paper, we will discuss the research report on building the relationship in sportsbusiness in which nature of megatrend, a significance of a megatrend, a relationship of amegatrend with other megatrends, the literature review on megatrend and implications andbusiness opportunities arises from the megatrends. The six megatrends are, namely, a perfect fit,from extreme to mainstream, tracksuits to business suits, new wealth, new talent, more than sportand everybody’s game.The selected megatrend is new wealth, new talent: in which economic growth and sportsdevelopment in Asia. The tougher competition is created throughout Asia by a population andincome growth which creates new opportunities and higher competition among the competitorsand new opportunities in the sports business environment and fields in Australia. The heavyinvestments are made by the Asian countries in the capabilities of sports and especially in Chinawhere the outcome of the gold medal is improved by the country at Olympics over the recentdecades (Hajkowicz et al., 2013). The increase in disposable income of Asian countries leads toincrease the interest of sports among the citizens. It develops the new market of sports tourism,sports television, sports equipment, sports events and services.Nature of MegatrendThe economic growth and population have shifted the power throughout Asia which influencesthe other countries, for example, India and china. The rising in the economies leads India andchina to become the major players across the world. India stands third largest in Asia and ninthlargest economy in the world. The movement is joined by other countries as well such as
Malaysia, Singapore, Japan, and Thailand. The investment is mainly made to improve the eliteperformance of athlete at the world level and to increase the participants of citizens in sports.The government of china has done strategic invested which is developed in 1995, and nationalphysical exercise plan was outlined which help to increase the practice of regular exercise andsports participants among the Chinese (Nijkamp et al., 2013). The common theme was developedamong the Asian countries and strategies are also same in sports.The new business opportunities and the market emerge to improve the results of sports andincrement in the rate of participation which helps to increase the revenue. The markets compriseof sports media, sports service, sports equipment, sports events and others which are rapidlyincreasing their trends. It leads to increase the economic growth in Asia which enables toincrement the disposable income of citizens which attracts the citizens to participate in sports.The analysis of two markets, namely sports events, and sports equipment's in two countries,namely, Australia and china shows the increase in the size of markets which in profitable for thebusiness. According to the reports, the market for sports equipment is increased by 5.9% from2005-2009 and total revenue is $6,049 Million whereas the Australia in the similar market isincreased by 4.5%. The viewers of Beijing Olympics were 1.102 Billion which equates eighty-four percent of the population of China (Hajkowicz et al., 2013). The sports business industryhas shown the figures which are not isolated, and the increment is shown in sports events andservices.
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