Top sports events rake in the cash
Print Edition
Twelve major sports events in the city last year led to direct consumption worth over US$400 million, said a report released by the Shanghai Administration of Sports and the Shanghai University of Sport.
The two institutions evaluated the 163 domestic and international sports events in Shanghai in 2019.
According to the report, 87 international events accounted for 53.4 percent of the 163 events. And, 38.9 percent of events attracted the top 50 players in the world in the field, 53.5 percent were judged by international referees and 26.8 percent of the opening and closing ceremonies were attended by officials of international sports organizations.
Twelve major sports events in Shanghai last year led to 3.09 billion yuan (US$434 million) of direct consumption and 10.2 billion yuan of income in related industries.
Of the 12, the Rolex Shanghai Masters tennis tournament, the Formula 1 Chinese Grand Prix and the Shanghai International Marathon contributed over 70 percent of the direct economic benefits, according to Huang Haiyan, a professor at the Shanghai University of Sport.
Major sports events also attract foreign and domestic visitors. In 2019, the 163 sports events attracted 170,000 participants and 1.92 million viewers.
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