Abstract：The Qatar World Cup is presently underway, but although all eyes are on football, the Middle East is also a fast-rising region of interest for brokers.
Stephen Pearson, CEO of Sports Media Gaming Ltd, provided the following guest post (SMG). SMG is a leading international sports marketing agency that has facilitated a number of recent Sports Sponsorships and Brand Ambassador partnerships with online brokers, such as Ingot Brokers MENA's partnership with La Liga, ThinkMarkets' sponsorship of Liverpool FC, and GemForex's partnership with David Beckham.
The Qatar World Cup is presently underway, but although all eyes are on football, the Middle East is also a fast-rising region of interest for brokers.
Along with the existing regulated organizations, there has been a significant surge in the number of brokers getting licenses in the area, with several of them doing so in 2022 alone.
The region's prominence is supported by an increase in marketing from brokers expressly targeting this profitable sector.
Aligning with a global sports property on a regional level provides highly focused marketing with little waste and at a fraction of the expense of worldwide sponsorship.
BDSwiss was the official sponsor of the DP World Tour Golf Championship in Dubai in 2021. BDSwiss earned significant brand exposure via on-course signage and visibility across a variety of other tournament media items as part of that partnership. They also had access to the tournament's Pro-Am competition and a range of hospitality services, which provided them with exceptional business-to-business chances.
Recently, Jordanian-based INGOT Brokers became a regional partner of La Liga in the MENA area. It was the first time a broker sponsored a league rather than a single club. The Jordanian Royal family and great player Luis Figo recently attended a massive launch celebration in Jordan.
CFI has increased its presence in the area. After enlisting Manchester City manager Pep Guardiola as a brand ambassador, the alliance has been plastered throughout outdoor media in Dubai as well as television advertising on airlines such as Emirates.
CFI has since been an official partner of the Abu Dhabi Mubadala World Tennis Championships, which will be held in December 2022 and will feature some of the world's best tennis players.
The Middle East offers significant possibilities for both existing brokers and new entrants. This possibility is driven by regulators' readiness to develop the legislative frameworks required to consolidate finance sector sustainability and innovation.
The area is particularly appealing due to its vastness and variety. According to a recent IPSOS poll, the financial industry will spend the fourth most on advertising in 2021, while Statista predicts that smartphone adoption will reach 80% by 2025.
Finance has been moving digital for a long time, and marketers are finding it simpler to reach young people in the MENA area since they are tech-savvy. The region's populace is open to new technologies like cryptocurrency and other non-traditional financial services.
Many ex-pat professionals travel to the GCC to take advantage of a tax-free environment in which they may acquire enormous quantities of money in relatively short periods of time. This provides financial marketers with an incentive to target overseas ex-pats and offer them services comparable to those accessible at home.
There is a lot of money coming from the Middle East in terms of sports. This has resulted in purchases of top European football clubs such as Manchester City, Paris Saint-Germain, and Newcastle United, as well as speculations of investment in Manchester United.
Significant efforts have also been made to bring worldwide athletic events to the Middle East. Formula 1 currently has four races in the area, premier IPL cricket clubs are establishing franchises in the UAE, and significant boxing and other athletic events are being held in the market.
As Asia continues to erect regulatory obstacles and grapples with the epidemic in China, it is quickly becoming one of the hottest marketing regions for brokers.
The sport continues to play a significant role in broker budgets, and the Middle East will remain a focal point even after the final whistle in Qatar is blown.
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