When Life Gives You Lemons: Branding without Olympics

Last Saturday, IOC announced that Tokyo will host the 2020 Summer Olympics. There were two more candidate cities: Madrid and Istanbul. None of the candidate cities got the majority of the votes in the first round. The second round of voting was between Istanbul and Tokyo, after Madrid was eliminated from the race following a run-off vote against Istanbul.  2020 was Istanbul’s fifth bid to host the Olympics. Being a runner-up candidate is thus far the best result Turkey got.

Now, we all know the famous saying “when life gives you lemons, make lemonade”. But there is no saying about how to brand your place when IOC doesn’t give you the Olympics. It is true that hosting mega events can be seen as important “place branding” moments, yet one should not forget that there are various studies (such as this one) showing that such events are not necessarily useful to improve a nation’s/country’s reputation.

So, When IOC doesn’t give you the Olympics

 

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