By Seth I. Kirby 3 minute Read
After much deliberation over whether spectators would be allowed, a new COVID-19 state of emergency in Japan sealed the deal: this year’s Olympic Games will have no domestic or foreign spectators. Despite this, the Tokyo 2020 organizing committee is going full steam ahead to deliver the delayed games later this month.
A lack of spectators will undeniably change the atmosphere of the games for athletes, but there is an economic cost too that will be invisible to those watching at home—over 60 domestic sponsors that rely on in-person interactions with Olympics fans.
The Olympics is an economic gamble for the city or region chosen to host the Games. Global and domestic partnerships are integral to a successful event and in generating revenue to pay for stadiums, facilities, and transit.
Olympic Games sponsorship is a tiered pyramid structure that positions worldwide Olympic partners at the top, followed by local sponsors lower down the pyramid. Worldwide…
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Source : fastcompany.com
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