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Since Beijing won its bid to host the 24th Winter Olympic Games in 2022, public enthusiasm for winter sports has been on the rise. The market for winter sports-related industries including facilities, venues, events and training is also emerging with great potential, which is referred to as the“white economy.” According to the China Tourism Academy, revenue from the domestic winter tourism market reached approximately 270 billion yuan from 2016 to 2017. It is estimated that China’s winter tourism revenue will reach 670 billion yuan from 2021 to 2022.
It is also estimated that revenue from winter sports-related industries stimulated by the Beijing Winter Olympics will exceed 300 billion yuan. Ski equipment, ski resorts infrastructure, skiing events operation and skiing services are four major areas where more investments are needed.
The winter sports industrial chain covers a wide range, from equipment, venues, events and training to the relevant upstream and downstream industries such as tourism, real estate and entertainment, boasting huge market coverage and potential. According to incomplete statistics, the annual output value of China’s skiing market is about 12 billion yuan. Compared to the international winter sports market, there is still huge room for market growth in China.
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