Empirical Study on the Economic Impact of Major Sports Events on First-tier Cities in China

DOI: https://doi.org/10.62517/jmsd.202412421

Author(s)

Zhiliang Meng1, Feng Chen2

Affiliation(s)

1School of Culture & Media, Xi’an Eurasia University, Xi’an, Shaanxi, China 2School of Economics, Northwest University of Political Science and Law, Xi’an, Shaanxi, China

Abstract

In order to investigates the economic impact of major sports events on first-tier cities in China, this paper focusing on Beijing, Guangzhou, and Hangzhou from 2000 to 2023. Using the least squares method, it examines the relationship between economic growth, the frequency of sports events, and industrial structure. The empirical results show that the frequency of major sports events and outputs from the financial and retail sectors positively impact economic development. Different levels of development among cities lead to varied impacts on specific industries. Beijing’s dual Olympic Games significantly boosted various sectors, while Guangzhou’s established economy experienced relatively smaller marginal effects. Hangzhou used sports events to promote financial and industrial growth, optimizing its economic structure. These findings provide decision-makers with insights for effective planning of sports events, emphasizing their potential to enhance tourism, retail, and infrastructure, ultimately boosting urban competitiveness and long-term economic growth.

Keywords

Sports Events; Economic Growth; Industrial Output; Regression Analysis

References

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