The city of Hangzhou has come alive as the 19th Asian Games officially commenced, marking one of the most significant sporting events in China in over a decade. With approximately 12,000 athletes from 45 nations and regions participating, the games are not just a showcase of athletic prowess but also a reflection of the growing influence of sports in China’s economic and social landscape.
Beyond the excitement of the competitions, industry experts are turning their attention to how the Asian Games may serve as a catalyst for the evolution of China’s sports industry. CGTN host Zheng Junfeng recently engaged in a dialogue with several prominent figures in the field to explore this potential.
Dr. Li Yonghong, an associate professor at the School of Sport Economics and Management at the Central University of Finance and Economics, highlighted the opportunities that such a large-scale event brings. “The Asian Games provide a unique platform to promote sports participation at all levels,” he remarked. “They stimulate investment in sports infrastructure and services, which can have long-term benefits for the industry.”
Paul Dong, co-founder of Ei Asia Limited, emphasized the commercial prospects. “This is a blue ocean market for sports,” he said. “The enthusiasm generated by the games can attract international brands and investors looking to tap into China’s expanding sports market.”
Mark Thomas, managing director of S2M Consulting, pointed out the technological advancements being showcased. “From smart venues to digital broadcasting, the integration of technology is elevating the spectator experience and opening new avenues for revenue,” he noted.
Adding to the insights, Remigio Brunelli, managing director of Tecnica Group China, shared his perspective on consumer engagement. “There’s a growing demand for high-quality sports equipment and apparel,” he explained. “Events like the Asian Games boost the profile of various sports, encouraging more people to participate and invest in sporting goods.”
Collectively, these experts underscore the multifaceted impact of the Asian Games on China’s sports industry. As Hangzhou plays host to athletes and fans from across Asia, the event stands as a testament to the region’s dynamic role in global sports and its potential to drive economic growth and cultural exchange.
Reference(s):
cgtn.com
