JEDDAH – The economic recession in Rio de Janeiro will not likely to impact the Summer Olympic Games nor the sports partnership of Panasonic, according to Anthony Peter, Director of Corporate Communications and Operations Division at Panasonic Marketing Middle East and Africa. "I think there are always ups and downs in the world. This year is no different. There were certain areas where they just came out of a recession like in the last Olympic Games," he told Saudi Gazette. "When sports start, everything is expected. It's a huge platform to showcase what can be done despite all the challenges we have. Panasonic as any other sponsor will show support in their endeavor." A long-term official partner since 1988, Panasonic has participated in the last 12 consecutive games, an opportunity to offer brand exposure to the company where "all the world is participating". Asked about the profit Panasonic has received from such exposure, numbers in revenue are not disclosed but Panasonic's technologies and quality of products have been shaped by regular presence and sponsorship in the Olympic Games. Both a consumer product and B2B provider, the company provides products from screens, professional audio systems, television, projectors, cameras and other equipment for the ceremonies. While the economic crisis in Rio de Janeiro has reportedly caused delays in infrastructure and projects, Panasonic remains optimistic and claims it's not only a positive opportunity for sponsors to showcase but also the country to do so. "These challenges will always be there but, as a company, we are sure that everything will be alright by the time the opening ceremony arrives in August," said Peter. "It's not only a showcase of Olympics but a showcase of countries. I don't think anything will compromise on the quality and the finish. I think they will put a lot of effort to make sure that the Rio Olympics will be better than the previous ones." Sports offer a unique branding for companies. Peter says, "It plays a huge role. Sports unite countries and have no religion. Sports events are a huge platform which encompasses the youth as well as the old and everyone is excited to be part of a game." As Saudi Arabia will be participating in the upcoming Summer Olympics, Panasonic has approximately 15-20% of market share in the region.
