Sponsorship Around the World highlights sponsorship trends and best practices from various global markets. As a global agency with 32 offices across 19 countries, MKTG Canada tapped into the global MKTG network to gain local expertise from brand experience leaders across the world. To further enhance this edition, MKTG Canada spoke with Brian Tellis, Co-Founder and Group CEO of MKTG Fountainhead Promotions & Events in India.
Home to over 1.3 billion people – making it the second most populated country in the world – India is well known for two of its strongest cultural passion points; cricket and the Bollywood film industry. And while these two areas dominate culture in India, the country’s sport and entertainment offering is diversifying, as emerging property types gain momentum with an expanding consumer base.
Marketers are recognizing this and the sponsorship spend in India has grown substantially. Last year alone, sports sponsorship grew by almost 20% reaching over $1 billion CAD (outpacing advertising growth which increased at 12%).
In a very populated country, with a growing middle class that could become the 5th largest consumer economy by 2025, sponsors are presented with an intriguing opportunity to target this emerging middle class. India’s wages have steadily increased with the daily average wage expected to increase 24% by 2020. As India’s economy continues to grow steadily, consumers are beginning to have more spending power in the country, increasing the opportunity and demand for sponsorships.
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Via:: MKTG Blog