Sports events in Shanghai generates $516M in consumption

Release time：2024-05-08 01:12:48 Source：Global Grasp news portal

The 118 major sports events held in Shanghai last year generated over 3.71 billion yuan ($516 million) in consumption which bolstered the culture and tourism industries in the city, according to a latest report.

The report, namely 2023 Shanghai Sports Event Influence Assessment Report, published by Shanghai Administration of Sports, Shanghai University of Sport and Shanghai Oriental Sports Evaluation and Consultation Center, pointed out that the 118 events led to a direct economic influence of nearly 5 billion yuan and created 32,268 job opportunities.

The sports events demonstrated a high level of organizing standard. According to the report, 36 of the 118 events were international competitions and 40 of them reached their seventh edition or even longer.

The improvement of the professionalism of self-developed events is a highlight of the sports events in Shanghai in 2023, according to the report. Last year, foreign runners participating in the Shanghai Marathon realized the best achievements in the men's marathon group in China. While the Head of Shanghai River Regatta 2023 invited the best international teams including the highly celebrated Cambridge University's rowing team, Oxford Brookes University boat club and Australian Rowing Team, the national team, which made their debut at the Regatta.

The local sports administrator said it will further cultivate more self-developed sports events and form a better consumption environment for sports fans in the future.

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