The 19th Asian Games, one of the most prestigious sporting events in the world, is set to be held from September 23 to October 8, 2023 in Hangzhou, China.
As one of the most famous games on the world’s largest continent, it is not only a platform for athletes to compete but also a massive economic opportunity for the host country. According to research, previous editions of the Asian Games have generated significant economic benefits, including increased tourism, infrastructure development, and job creation. China, with its extensive infrastructure and thriving tourism industry, is well-positioned to capitalize on these benefits.
First, hosting the Asian Games requires extensive investment in sports infrastructure. China has been consistently investing in state-of-the-art sports facilities, stadiums, and training centers to support its athletes and promote sports participation among its citizens. As per the 19th Asian Games Hangzhou Organizing Committee, all competition venues for the Games have been built or renovated to meet the requirements of both the games and the daily recreational and sporting needs of local residents, with a focus on green and sustainable principles supported by high-tech.
Also, the Asian Games attracts thousands of athletes, officials, and spectators from all over the world. This influx of visitors creates a significant boost to the local economy, particularly in the hospitality, transportation, and retail sectors. On September 6, the Asian Flower Theme Park was unveiled in Hangzhou, aiming to provide a friendly atmosphere for visitors from across Asia. Hangzhou, known for its natural beauty and cultural heritage, can leverage the Asian Games to enhance its reputation as a tourist destination, attracting more visitors in the long run.
Last, the Asian Games not only stimulates the overall sports economy but also accelerates the development of China’s sports industry. For example, from August 6 to 12, the 2023 Zhejiang Provincial “National Fitness Day” and “Sports Promotion Week” themed activities are held at the Huanglong Sports Centre, Hangzhou. It attracted a total of 880 yoga enthusiasts to participate. In addition, the First Women’s Half Marathon Hangzhou 2023 kicked off in the city on May 7, driving traffic, catering, accommodation and other passenger consumption outside the event. It goes without saying that the Asian Games serves as a catalyst for sports-related businesses, including sports equipment manufacturers, sports media and broadcasting, sports marketing agencies, and sports tourism operators. The Asian Games can help these industries gain momentum, leading to increased employment opportunities and revenue growth. As the world eagerly awaits the event, all eyes will be on China as it showcases its sporting prowess and lays the foundation for a thriving sports economy in the years to come. “Our experience of the Games in China has always been very good. And because the games and events that take place in China are of a very high standard – starting with the Beijing Olympics and now in Hangzhou – I am sure it will be a great experience not only for us but for all the athletes and the entire contingent,”
