More than 40 years since hosting the biggest hoops event in the world, basketball is coming home to the Philippines after the country, together with Indonesia and Japan, secured hosting rights for the 2023 FIBA Basketball World Cup.
Hosting FIBA events has economic benefits, which come in the form of events’ impact on the overall economy and return on investment, branding on a global scale (advertising and sponsorship values), revenue opportunities (sale of tickets and local broadcast rights) and auxiliary events’ potential (associated events with economic value).
Exactly how much will the Philippines gain from co-hosting it? Let’s take a look at Spain, which played host to the last FIBA World Championship (now World Cup) in 2014. Here’s how much income the country generated from the sporting event.