Ｔｈｅ　Ｏｌｙｍｐｉｃｓ　Ｅｃｏｎｏｍｉｃ　Ｂｏｎａｎｚａ.docVIP

Ｔｈｅ　Ｏｌｙｍｐｉｃｓ　Ｅｃｏｎｏｍｉｃ　Ｂｏｎａｎｚａ 　　SINCE Los Angeles unexpectedly reaped a profit in 1984 for the first time in the history of the modern Olympics, the quadrennial event has become an economic bonanza for host cities. Barcelona, for example, achieved a profit of US $26.05 billion in 1992. The Olympic-related economy in Beijing is also picking up as the big event draws near. 　　 　　Local Sports Industry Prospers 　　 　　China’s sports industry is the major and most obvious beneficiary of the economic activity associated with world’s largest sports gathering. According to official statistics, the nation’s total investment in the Games amounts to RMB 280 billion. Sixty-four percent of this has been swallowed by the construction of infrastructure, including venues, equipment, and transportation. 　　Beijing has established a 1,000-hectare Olympic Park in the northern part of the city, and built 12 new venues, transformed or upgraded 11 others, and put up eight temporary structures in and around the park. After the Games, the park and venues will continue to host top sporting events, and provide ample facilities for the public’s sporting activities. The boom is expected to last well beyond August. At the beginning of 2007, the Beijing Municipal Government stated that sports-related businesses are set to be one of the city’s areas of economic growth after 2008. 　　The consumption of sporting goods comprises a significant part of the sports industry’s earnings. The products and equipment required for the Games alone amount to some RMB 170 million, providing a great opportunity for producers. The newly established venues provide spaces for sports enthusiasts, while the all-pervasive promotion of the Olympics has aroused people’s interest in physical activities. As the Chinese people’s enthusiasm for sports and exercises keeps rising, the general demand for sportswear and athletic equipment has also increased dramatically. 　　For many small sports brands in China, the Olympics r