Nicholas Craig column

Jun 23 2006 By Nicholas Craig, The Journal

The World Cup is putting a sizable spring in the step of retailers and businesspeople throughout the region, country and the world.

By the time it reaches its climax on July 9, the World Cup will be the most lucrative sports event of all time.

The actual sporting occasion - 64 games of football in 12 different stadiums with 32 national teams playing against each other - is in danger of paling into the background against the all-pervasive dominance of advertising and marketing.

This year's event is a business worth billions. In England close to £1.25bn will be added to the UK economy. Worldwide the sale of television transmission rights is bringing in around £1bn. Sponsors will accrue about £300m from the sales of marketing rights - twice as much as ticket sales will bring.

Corporate events in the North-East are coming in thick and fast. The World Cup phenomenon ensures a good turn out for a business "do", which combined with the prospect of good weather, has created the perfect recipe for networking.

Marketing budgets will be depleted but client relationships, it is hoped, will be strengthened before the final match takes place.

For footballphobes, there is an equally thriving range of events cropping up, from cocktail parties at St James's Park timed to coincide with a World Cup match, to other sports games planned to act as antidotes to World Cup overdoses.

Pubs, restaurants and shops are obligingly screening the matches while we eat, drink and spend money. The Centre for Life in the city centre attracts many hundreds to watch its giant screen in Times Square, particularly when the sun is blazing down.

Fan or not, there's no escaping the fluttering flags and outbreak of patriotic memorabilia, wherever you are. The World Cup has had a more visible impact on business and communities than any other sporting event I can remember.

Imagine the effect of the 2012 Olympics on UK corporate events, retailers and businesses. I am sure marketing departments up and down the country are already planning a calendar of exciting experiences designed to get the most out of a massive sports occasion.

The World Cup highlights just how much sports and business depend upon each other, and in doing so boost the regional economy and corporate entertainment. Come on England.

Nicholas Craig is a partner at Watson Burton law firm.