Skating will see large growth in China

‍‍‍‍After China successfully won the bid to hold the 2022 Winter Olympic Games, China is now put again in a pre-Olympic period. Online experts said that this period is characterized as a period when Olympic culture is intensely spread and developed in the hosting country. This will in turn produce significant economic growth in the sports sector. 

According to an article on a web site named Huwai Ziliao (outdoor sports information), revenues made from Chinese sports tourism have been growing from 30% to 40% each year since 1994. Skating is an important part in sports tourism, and will be likely to undergo a “golden period” of development in the future. 

Having benefited from the historical period that China is in where there are many supports from the government and the developmental stage of the industry itself, skating in China is going to witness great developments in the next ten years with increases in each part of the chain, according to the article. It said that venue operation and equipment manufacturing would be the two business areas that benefit the most. 

The article estimated that by 2022, there would be 26 million people in China participating in the sport. The penetration rate of the sport in China would be 2%. 

If every person goes skating for 1 or 2 times per year and spends 600 yuan each time, the gross revenue produced would be RMB27 billion. 

Source: Huwai Ziliao