Top-level draws hold promise for retail, tourism

The Shanghai Longines Global Champions Tour and the Chinese Grand Prix held in the port city recently highlighted the growing appeal of top-level international sporting events in boosting the local cultural, sports and tourism sectors.

Held over three days in early May, the Shanghai Longines Global Champions Tour marked the unveiling of the Shanghai Juss International Equestrian Center, the first permanent professional competition venue in China that meets the standards of top international equestrian events. The event attracted over 22,000 visitors, significantly boosting tourism in the city.

The arrival of the Global Champions Tour in Shanghai 10 years ago opened a window for equestrian sports to enter China.

The horse business boasts a robust industrial chain, including equestrian sports, horse racing, leisure riding and horse breeding.

According to the General Administration of Sport of China, the total output value of China's horse industry chain exceeded 70 billion yuan ($9.66 billion) in 2019.

As a major horse breeder, China ranks among the top globally in terms of its equine population.

In recent years, equestrian events have emerged as a leisure sport in China, integrating into the lives of Chinese sports lovers and generating considerable social and economic value.

Cheng Keqiang, director of the Shanghai Equestrian Sports Management Center, said there were 270 registered youth athletes in Shanghai in 2018; by 2022, this number had increased to over 670. The number of horses rose from over 1,000 in 2018 to over 3,000 in 2022, according to the Shanghai Observer.

During last year's first National Youth Games, Shanghai's young equestrians excelled, winning three gold medals across six events, ranking tops among all participating teams.

Huang Ming, general manager of Shanghai Juss Sports Event Management Co Ltd, said: "We hope to present the development of equestrian sports in Shanghai and China to the world. Our goal is to build a more comprehensive competition system through this event, including the establishment of youth equestrian competitions."

Big potential

Formula 1 races returned to Shanghai after five years.

The event, held between April 19 and 21, witnessed a surge in interest, highlighting the city's capacity as a global sports hub and generating consumption opportunities in sectors including retail and tourism.

It was a landmark moment when Zhou Guanyu, 25, became the first driver to compete in front of his home crowd at the Shanghai International Circuit.

Speaking on the fervor surrounding the event, Zhou said: "I think everyone can still get involved, have that as an interest, and that's why I'm here … and it's great to see a lot of people coming, supporting, notice the racetrack, also off track, to see them there when you have activities. It is great to feel this energy."

The first three days saw an influx of 200,000 visitors, with 150,000 attendees on the opening day alone, said Yang Yibin, chairman of Shanghai Juss Sports, which runs Formula 1 in Shanghai.

The number has shattered previous single-day attendance records for sporting events in the country.

Of these, 70 percent were Chinese from places outside Shanghai, and 10 percent were visitors from overseas.

According to online travel platform Ctrip, hotel reservations during the three-day event soared 63 percent year-on-year, marking a 10 percent increase compared to bookings made a week prior to the event.

The surge in demand reflects F1's capacity to draw visitors and drive consumption.

According to the 2019 Shanghai Sports Event Impact Assessment Report jointly released by the Shanghai municipal sports bureau and Shanghai University of Sport, 12 major sports events held in Shanghai in 2019 generated a consumption value of 3.09 billion yuan, propelling industry output exceeding 10.2 billion yuan.

Of these, the Shanghai ATP Masters 1000, F1 Chinese Grand Prix, and Shanghai International Marathon accounted for over 70 percent of the total economic outcome.

According to the 2023 report, a total of 118 sporting events were held in Shanghai last year, driving consumption of 3.71 billion yuan and a related industry driving effect of 12.86 billion yuan.

F1 stood out this year for its fusion of sports and entertainment.

According to Jiemian, a Shanghai-based business media house, ticket sales over the three days rose to more than 100 million yuan. To attract a younger audience, Juss blended motor sports with live concerts, gourmet experiences and interactive attractions.

The fusion transformed the Grand Prix into a carnival, catering to both motor enthusiasts and festivalgoers.

Kathy Shi, a top commentator of F1 on CCTV, said the surge in interest in F1 this year has been unprecedented.

"People are buying tickets this year because they want to immerse themselves in the races. The presence of a Chinese racer on home soil for the first time also added an extra layer of resonance," Shi said.

Shi said many spectators were newcomers to the race.

"They came for the excitement and thrill of the engines, or even for the concerts held next to the circuit. They may have heard the name of Lewis Hamilton for the first time, but this has been a promising beginning."

Shi emphasized the importance of nurturing and expanding the fan base for the continued growth of motor sports in China.

"It requires joint efforts from F1 and Juss to continue to enhance the entertainment value and excitement of the race, attracting a younger local audience and participants," she said, adding that she hoped Shanghai would join the ranks of iconic F1 destinations such as Miami and Las Vegas to become a global magnet for F1 fans around the world.

"Broadcast in more than 200 countries and regions, the F1 race serves as a platform to showcase the vibrancy and rapid development of Shanghai," Shi said.

Meanwhile, Zhou Guanyu's rise in the world of F1 has not only elevated his status as a racing sensation but also boosted the popularity of the sport in the domestic market, according to Shi.

Hailed as the Yao Ming of motor sports, Zhou's presence on the Shanghai circuit has catalyzed a surge in commercial opportunities since 2022.

Brands across sportswear, electric vehicles and technology, including Lululemon, SenseTime, Hennessy, and Zeekr, have sought out Zhou to become their brand ambassador.

For instance, Lululemon has launched limited edition products dedicated to the racer, as the brand had extended its business into men's products two years ago.

Both on and off the track, the value of an athlete is closely linked to their performance, said Shi.

Zhou said he hoped to enjoy a "long career" in F1.

"Hopefully it's not going to be the only one, because I'm planning hopefully to stay here as long as I can. Everybody loves to have a long career in Formula 1, that's where we dream to be."