• Loading stock data...
Wednesday, December 11, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

China Looks to Bounce Back After $33B Sports Industry Dip

  • Over the summer, China said it aims to grow its sports industry into a $773 billion business by 2025. 
  • But the lofty goal comes on the heels of a dismal announcement.
(China-Sports-Industry)
Rob Schumacher-USA TODAY Sports/Design: Alex Brooks

Over the summer, China said it aims to grow its sports industry into a $773 billion business by 2025.

But the lofty goal comes on the heels of a dismal announcement. Last week, the nation revealed that its sports business industry lost $33 billion in 2020.

It recorded a total output of $431 billion in value — 7.2% less than its 2019 value of $464 billion.

  • The value of stadiums and other sports venues decreased by 20.2%.
  • The sports agency and design sector saw a 16.9% decrease.
  • A few sectors — like sports media and education — grew.

The report attributed the drop to the ongoing global pandemic.

Upcoming Olympics

China has an opportunity to jumpstart its sports economy with the 2022 Winter Olympic Games in Beijing, which kick off on Feb. 4. But there are wrinkles that could complicate how much cash the Games can infuse into China’s sports economy.

The surging Omicron variant has posed a significant challenge to the Winter Games, raising questions not only about whether travel and competition will be disrupted, but whether they will be held at all.

Diplomatic boycotts by the U.S, Canada, U.K., and Australia in response to China’s human rights violations have also cast an air of scandal over the Olympics.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jul 20, 2024; Phoenix, AZ, USA; NBA commissioner Adam Silver arrives prior to the WNBA All Star Game at Footprint Center.

NBA Set for China Return Five Years After Morey–Hong Kong Fiasco

The Nets and Suns will play two games in Macao in October 2025.
Sponsored

Racing Forward: How SailGP is Redefining High-Performance Sailing and Championing Gender Equality

SailGP is redefining high-performance sailing through their bold commitment to gender equality and their Women’s Performance Program.
Feb 11, 2024; Paradise, Nevada, USA; Elon Musk looks on before Super Bowl LVIII between the San Francisco 49ers and the Kansas City Chiefs at Allegiant Stadium.

Can Elon Musk’s X Fix Its Rampant Fake Sports News Problem?

Little is known about how X will enforce its new policy aimed at parody accounts.
A line of Black Friday shoppers streams into the Nike Store at Tanger Outlets in Pooler.

Sportswear Giants Are Ready for Trump’s Tariffs This Time Around

Retailers cut their exposure to China when Trump imposed tariffs in 2018.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.

Premier League Transfer Spending Has Already Topped $2 Billion As Deadline Looms

Saudi Pro League teams haven’t yet matched their English counterparts.
August 11, 2024

Passing of the Torch: Los Angeles Set for Olympic Firsts in 2028

The city last hosted the Summer Olympics in 1984.
Paralympics Tiktok
August 25, 2024

The Wildly Successful Paralympics TikTok Account Isn’t What You Think

A cheeky TikTok account is opening the world of Paralympic sports.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 1, 2024

Saudi Arabia Submits Bold World Cup Bid That Includes a Cliffside Arena

The Saudis are proposing a new stadium in a futuristic city called Neom.
John John Florence (USA) surfs in men’s round two competition during the Tokyo 2020 Olympic Summer Games at Tsurigasaki Surfing Beach.
July 29, 2024

Olympic Surfers Won’t Get Their Full Paris Moment

‘We’re kind of separate off on our own little thing over here.’
Teahupo'o Tahiti Surfing
July 26, 2024

Olympic Surfing Crashes on Tahiti Like a Wave

For Teahupo‘o’s locals, the Olympics are a mixed blessing.
July 25, 2024

Olympics: Despite Concerns, Star Athletes and Paris Spark Hope

Hope rises for a resurgent event after two pandemic-marred Olympics.