European sports sponsorship industry clocks $22.6 billion in 2018

European sports sponsorship,Sports sponsorship,Sports sponsorship in India,Asian Sports Sponsorships,FIFA World Cup

A day after the Asian Sponsorship market figures for year 2018 were put out, now the European Sponsorship Association has released sponsorship numbers for the European market. According to the report produced by ESA, the European sports sponsorship reach a record figures of USD 22.6 billion. In comparison Asian sponsorship numbers stood at $9.65 billion for the year 2018.

According to the ESA, the market mostly driven by major countries and global events, including the Winter Olympic Games in Pyeong Chang and the FIFA World Cup in Russia, the sports sector grew 8.7 per cent in the year 2018. It is the third successive year the value sports sponsorship has risen in the annual ESA report, recording returns of US$20.46 billion and US$20.78 billion in 2016 and 2017 respectively. The record amount combines the value of deals exclusive to individual European markets and deals for pan-European events, plus the European share of deals for global events.

The report has further released data on the entire sponsorship industry for the European territory including the non-sport sector. The sports and the non-sports sector combined has clocked US$33.89 billion, according to the ESA. The report shows that increases were most prominent in Germany up 7.3 per cent to US$6.78 billion and the UK up 9.1 per cent to US$4.84 billion with smaller markets only seeing incremental growth

Also Read: 13% growth for the Asian Sports Sponsorship market in 2018 : Report