Utilizing the multiplier effect of competition economy in enterprises | Universiade | Effect
Whenever major sports events are held, economic accounting is a topic of concern for all parties. How much manpower and material resources do we need to invest in building and renovating venues? Can revenue from ticketing and franchising support service costs such as transportation and accommodation? This not only affects the profits and losses during the competition, but also has a significant impact on the economic and social development of the host country.
The visible and invisible accounts are calculated from the beginning of the bidding process to the post competition review, and the 31st Chengdu Summer Universiade is no exception. On a visible ledger, the organizers are meticulous in their efforts to keep the competition simple and exciting. On the one hand, taking "frugality" as the consistent concept of organizing competitions, we should strive to reduce costs as much as possible by not building, repairing, renting or buying, borrowing or renting; On the other hand, we will develop over a thousand licensed products in 18 major categories such as "Rongbao", open 285 retail stores, and increase revenue through ticket sales and the issuance of Universiade lottery tickets.
On the invisible ledger, the driving effect of the Universiade has been fully utilized. Chengdu is accelerating investment promotion and market development in the sports industry, with more than 50 event promotions, brand promotion, and industry promotion events held consecutively. The "Chengdu Universiade Market Development Opportunity List", "Chengdu Universiade Brand Cooperation Opportunity List", and "Chengdu Universiade Market Development Empowerment Opportunity List" are continuously updated, and cooperation projects are continuously flowing into the market and reaching enterprises. A group of local enterprises have shared the opportunities of venue construction, communication, catering, transportation and other events in the Universiade, becoming partners in the event. Many out of town enterprises have also been attracted to settle and increase investment in Chengdu due to the Universiade, transforming from "event partners" to "urban partners", which will contribute to the long-term development of Chengdu after the competition.
For participating companies, not only can they share global market opportunities, but they can also leverage the influence of this world-class competition to promote their corporate image and accelerate their growth into world-class brands.
More importantly, the income brought by the Universiade has already surpassed the economy itself. When the youthful vitality of the Universiade sweeps across various industries, and when enterprises see opportunities and share fruits from the enthusiasm of the Universiade, their confidence in development is greatly boosted, and the value cannot be measured by money.
The hosting of the Universiade and the opportunities it brings can help businesses perceive positive signals, see good prospects, restore confidence in development, and form good expectations. In the first half of this year, the vitality of business entities in Chengdu continued to recover, with 335000 newly registered business entities and a net increase of tax related business entities by 90.2%. Investment in some key areas increased, with investment in electricity, heat production, and supply industries increasing by 1.4 times, investment in culture, sports, and entertainment industries increasing by 39.8%, and regional GDP increasing by 5.8% year-on-year. The boost of corporate development confidence plays a crucial role in the sustained recovery and improvement of the economy.
Against the backdrop of a global economic downturn, Chengdu actively applied to host the Universiade and, despite being delayed for two years due to the pandemic, has always adhered to its promise. After more than 1000 days and nights of effort, it presented a "simple, safe, and exciting" sports event, demonstrating the city's responsibility. The Universiade brings not only excitement and joy, opportunities and motivation, but also a spirit of hard work and optimism, allowing every party in the market to feel the power of the country and the resilience of the economy.
Confidence has a multiplier effect, and once established, it will produce an amplification effect. Chengdu is preparing for the Thomas Uber Cup in 2024 and the World Games in 2025. It needs to further maintain and give full play to the new map of the expansion of various events, stimulate new momentum, and constantly promote economic development by taking advantage of the "east wind" of the events.
