China is the world’s second-largest economy. It has the world’s biggest population. As a result of this the country’s contribution to the global economy is very significant. It is not influential on the business side alone but other sectors including the sports industry. According to government estimates the Chinese sports industry will contribute close to 1.5% of the country’s gross domestic product. This is a very substantial amount given that china has the world’s second largest economy.
The hosting of F1 racing in 2004 and the 2008 Olympic Games in china have greatly added to the growth of the sports industry in china. Apart from the different sporting activities practiced within the country the Chinese sports industry’s main contributor is the manufacturing sector that manufactures sports related commodities. In addition some of these trademarks have been named after some of china’s most successful world champions from the different games and or sports that they play. Within the industry services like fitness, production as well as sale of sporting goods has grown at a rate that has been higher than the country’s economic growth rate. This is an indication of the potential that exists within the industry.