Olympic Hospitality: Olympic 2020 Brand Partners Play Waiting Game Over Coronavirus

Hundreds of lots of dollars in Tokyo brand companies hang in the balance. In the less than two months since the coronavirus eruption started its global march, everything from industrial, consumer behavior, travel, and large-scale meetings have been changed.

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Japan, with more than 800 infections, said today it will close schools for a month. The country has 12 billion dollars at stake this summer as it hosts the Olympic 2020 in Tokyo.

“Countermeasures against transmissible illnesses establish an important part of Tokyo 2020’s plans to host safe Games, the International Olympic Committee said in a statement to Ad week. We have full confidence that the relevant establishments, in particular in Japan and China, will take all the required actions to address the situation.”

The IOC is also keeping in communication with its global associates, which comprise main U.S. brands Coca-Cola, P&G, Intel, Dow, Visa, GE, and Bridgestone. For large makes, the price tag to be an authorized Olympic 2020 partner can run in the hundreds of millions of dollars. Chinese shop Alibaba is said to have paid roughly #800 zillion to mate on six games over 12 years.

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Visa said in its speech “At this time, our preparations for the Olympic and Paralympic Games Tokyo 2020 are enduring as planned, Keith Cawley, senior infrastructures boss at Bridgestone, told Ad Week. However, we are monitoring this state very closely and taking the necessary steps as it evolves. We have the full sureness that the opposite organizing bodies will take the vital events to professionally attain the state,”

 “It’s so distant out at this moment that there are only so many things that can happen between now and then,” said a spokesperson for a top-tier Olympic 2020 sponsor who wanted to last nameless. We’ve got five or six months. A lot could change in five or six weeks with the coronavirus. Certainly, we’ll have some contingency plans, as we always do.”

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