Olympic Capital increased its name during the coronavirus pandemic | Instant News

For decades now, we have heard that the place to be for the international sports world is Lausanne in Switzerland, known as the “Olympic Capital.”

Over the years many arguments have been put forward by his promoters, not only the practical proximity to the International Olympic Committee (IOC), but also the relatively low tax environment, stable political and economic landscape, certain quality of life at the heart of Europe, as well as an extensive network of specialized businesses sports, schools and universities.

The success of the Olympic Capital platform is undeniable, with more than 60 International Sports Federations and organizations calling it their home today, making this region a truly unique international sports ecosystem system.

Arguments put forward by local authorities must always co-exist with views that are somewhat more nuanced than those who raise questions about tax avoidance, about the overall transparency of the International Federation (IF) government, or criticize the behavior of Swiss authorities. which according to some is too soft.

This healthy debate must continue to exist to ensure that appropriate control mechanisms and legal frameworks are in place – which is the case now.

However, since the beginning of the COVID-19 crisis, this whole system has been tested. As the saying goes, “hard times express true friends”.

Beyond the beautiful image of Switzerland, the damage caused by global health shipping to the international sports industry is unprecedented. Never in the history of sport have there been so many organizations so financially risky.

The International Olympic Committee officially opened the Olympic Home in Lausanne in Switzerland in June 2019 © IOC / Adam Mork
The International Olympic Committee officially opened the Olympic Home in Lausanne in Switzerland in June 2019 © IOC / Adam Mork

In the midst of these very difficult times, Swiss authorities have reacted quickly, and in large numbers. Just like many other countries around the world, they also do it for the sports industry but at a level that, to be honest, is not expected.

Let’s take this example – just last week, the Federal Government announced the first plan for professional sports and grassroots CHF500 million (£ 423 million / $ 518 million / € 471 million).

A sizeable amount for a country with a population of 8.5 million. In comparison, Canada recently announced a $ 72 million (£ 58 million / € 65 million) plan for domestic sports.

It’s time to be interesting for international sports – in addition to the CHF500 million plan for this domestic sport, the Swiss Federal Government has agreed to help the Swiss-based International Sports Federation who most needs {excluded UEFA and FIFA} collaborate with the IOC and countries regionally.

This is in the form of a loan that must be repaid, the amount and time period to be considered on a case by case basis. An aid that will be vital for many of the more vulnerable IFs.

In addition, Swiss countries have also put in place a technical unemployment system that allows businesses including IF to have 80 percent of their staff salaries replaced by regional unemployment offices for the period that runs from March to September. All this through a very simple system basically without documents.

Of course, this is a way for the country to recognize the huge financial impact that the international sport has on its local economy. But among the many arguments put forward to attract international sports management bodies to Switzerland in general and to the Olympic Capital in particular – we can from now on add this immediate and significant financial assistance in the event of a major problem.

Hopefully organizations that are still considering the pros and cons of moving their headquarters to this part of the world will add it to their list from now on.

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