Beijing's Olympic prospects look gold

Beijing's bid for the 2022 Olympic and Paralympic Winter Games is expected to boost sports industry and tourism business in Beijing and Hebei province, said the Beijing 2022 bid committee.

As highlighted in Beijing's joint bid with Zhangjiakou, Hebei province for the 2022 Winter Olympics, promotion of mass participation in winter sports will be expected to boost consumption in the leisure and tourism sectors, contributing to the development of the Beijing-Zhangjiakou Sport, Culture and Tourism Belt.

According to the bid committee, the sports entertainment, culture, tourism and conference sectors as well as exhibition industries are estimated to contribute to about 20 percent of the local GDP in the Beijing-Zhangjiakou region by 2022.

The growth will align with the Chinese government's commitment to develop the nation's sports industry as outlined in a State Council plan issued last October, which set goals for the sector to grow to 5 trillion yuan ($804 billion) by 2025.

According to its bid, Beijing 2022's overall marketing revenue target has been conservatively set at $858 million, including $660 million of sponsorship.

The remaining amount will be raised through licensing and ticketing programs.

Given the vast consumer group and huge growth potential, experts strongly believe the target to be an achievable goal with the opportunity for Beijing 2022's marketing partners to benefit with a strong return on investment.

"We guarantee that Beijing 2022 will meet the revenue targets, secure the best returns for the International Olympic Committee TOP partners, as well as national partners, in strict respect to all the IOC's and International Paralympic Committee's marketing rules," said Chen Feng, former deputy director of marketing of the Beijing 2008 Olympic Games.

Eight major sponsors have been signed on for Beijing 2022. The sponsors span across multiple areas, among them: Tencent Group, the fourth largest Internet company in the world, Snow Beer, the world's bestselling beer brand, PricewaterhouseCoopers, the world's largest professional service network, Beijing Bank, Beijing Automotive Group, Anta Sports, True Colour Stationary and Sandaogu Travel Company. A number of businesses have already indicated their wish to sponsor the Beijing 2022 Games.

Ticketing prospects for Beijing 2022 are also very positive and will be further fueled by the fact that the Games will coincide with the Chinese New Year festival and school holidays to ensure full stadia attendance, said the bidding committee

In addition, Beijing 2022 has an experienced team that was involved in successful marketing programs of the Beijing 2008 Games and has a strong understanding of both the Chinese market procedures and the marketing rules set by the International Olympic Committee and the International Paralympic Committee.

The Beijing bid committee on Friday delivered the last presentation to the IOC evaluation commission members, ahead of the wrap-up meetings on Saturday. Beijing 2022 officials and experts briefed the commission members on the themes including Paralympic Games, legal matters, safety, security and medical services, government and public support as well as finance and marketing.

The evaluation commission members have visited all proposed sites and venues for the Beijing 2022 Olympic and Paralympic Winter Games in the three Games zones and will share their impressions of the visit at the conclusion press conference which will be held on Saturday afternoon.