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Trade - Editor, 8 October 2007

China Business Spurt from the Olympics (Part 1)



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It is common knowledge that every Olympics means big business, but exactly how much is that? A glance at the web site for the 2008 Olympics in Beijing will show what the event means for China business. No wonder the savvy Tony Blair dashed half way across the globe to snatch the 2012 games from Paris! Entire swathes of industry, which have rather stagnant futures, get new leases of life at the privileged sites of future Olympics.

Residents of cities which have no hopes of making it to the final lists from which selectors make their tough choices can never see so many stadiums, swimming pools, running tracks, playing fields, shooting ranges, and indoor courts, as an Olympic city. The investment, job, and revenue opportunities routinely exceed the formation of a major new corporation.

Tourism, catering, accommodation, the need for local guides, and nearby attractions in the host country, offer many opportunities for small business owners. The rather more obvious industrial benefits of winning rights to host an Olympics, in terms of concrete, construction, infrastructure, and international attention, tends to overshadow the myriad new earning opportunities which are created for local manufacturers and amateur service providers. However, this trickle-down effect is considerable, and deserves the close attention of everyone with a stake in developing new China business.

New China Business Ideas from the Olympics

Each round of Olympics occupies the world stage for a fortnight at best, though the economic rumblings start years earlier, and though the reverberations are felt for decades later. That is why top metros such as London aspire to host the games repeatedly rather than once, and no one should fault China business for feeling the same way about Beijing, to say nothing of Shanghai!

China business opportunities are open for entities from other countries and will continue well after the actual event is over. A fair part of the more than $20 billion that Beijing is committed to spend to stage the Olympics is part of a long term and ongoing city development plan.

The Olympics demand global quality standards, so organizers give equal opportunities to local and international manufacturers. This has the twin benefits of raising local standards of China business, while providing generous entrances to foreign players as well.

Environmental conservation and Information Technology are prime examples of the types of unconventional China business to sprout from the Olympics. These are the kinds of areas which subject matter specialists from frontier areas can address.

China Business Spurt from the Olympics (Part 2)

Trade

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