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Beijing 2022 outlines tremendous commercial potential to support IOC's Agenda 2020 reforms

Xinhua, March 27, 2015 Adjust font size:

The Beijing 2022 Bid Committee made a strong pledge to the International Olympic Committee (IOC) Evaluation Commission on Friday, highlighting the tremendous commercial potential for the Olympic Movement from Beijing 2022 Olympic and Paralympic Winter Games.

The Beijing 2022 Bid Committee held the last day of presentations on Friday to the IOC Evaluation Commission members, ahead of the wrap-up meetings on Saturday. Beijing 2022 officials and experts briefed the IOC EC members on the remaining themes, including Paralympic Games; Legal Matters; Safety, Security and Medical Services; Government and Public Support; Finance and Marketing. The IOC Evaluation Commission members visited all proposed sites and venues for the Beijing 2022 Olympic and Paralympic Winter Games in the three Games zones on the previous days and will share their impressions of the visit at the IOC Press Conference which will be held in Beijing in the afternoon, March 28.

China's dynamic and highly diverse economy boasts a vast consumer base and is set to continue its long-term sustainable growth by strengthening focus on efficiency and quality. The Chinese Government has confirmed the development of the country's sports industry a main priority, setting a goal for the sector to grow to 800 billion U.S. dollars by 2025 through promoting sports businesses, developing key sport facilities and opening up an expanded sport market for consumer products and services in the sector.

In line with the government's commitment, preparations for the Beijing 2022 Games are expected to further boost the economic development of the Beijing-Zhangjiakou Sport, Culture and Tourism Belt. It has been estimated that industries such as sports, culture, tourism and leisure, conferences and exhibitions will amount to about 20 percent of the local GDP in added value by the time of the Games.

Beijing 2022's overall marketing revenue target has been conservatively set at 858 million dollars, including 660 million dollars of sponsorship revenue. The remaining revenue will be raised through the licensing and ticketing programmes. Given the sizable market and huge growth potential, it is strongly believed to be an achievable goal with the opportunity for Beijing 2022's marketing partners to benefit with a strong return on investment.

"We guarantee that Beijing 2022 will meet the revenue targets, secure the best returns for the IOC TOP partners, as well as national partners, ensure full stadia with amazing atmosphere, in strict respect to all the IOC's and IPC's marketing rules," said Chen Feng, former deputy director of marketing of the Beijing 2008 Olympic Games.

Ticketing prospects for Beijing 2022 are also very positive and will be further fueled by the fact that the Games will coincide with the Chinese New Year festival and school holidays to ensure full stadia. In addition, Beijing 2022 has an experienced team that was involved in successful marketing programmes of the Beijing 2008 Games and has a strong understanding of both the Chinese market procedures and the marketing rules set by the IOC and the International Paralympic Committee. Endi