Fosun Tourism Drives Winter Sports Growth Amid Skiing Craze in China
Fosun Tourism's Bold Strategy in the Winter Sports Sector
Fosun Tourism Group, the Chinese owner of the Club Med resort chain, is investing in winter sports facilities to leverage the surge in skiing and skating enthusiasm across China. As tourists tighten their budgets, spending on dining and accommodations may have diminished, yet the demand for ski resorts remains robust. Andrew Xu, co-president of Fosun Tourism, highlighted that there is a severe shortage of top-tier ski resorts and entertainment complexes in mainland China.
Market Analysis and Growth Prospects
According to Xu's comments during a Shanghai briefing, the winter sports industry experienced a remarkable tenfold growth, reaching 150 billion yuan (approximately US$21 billion) in spending over the past four years. Despite the rise, the region currently boasts only 14 high-quality ski resorts. Fosun tourism is set to capitalize on this gap.
- Tourist Attractions featuring snow and ice are positioned as the next growth engines for the company.
- Fosun's asset-light strategy focuses on managing resorts rather than owning them, allowing for more scalable growth.
Innovative Developments in Winter Sports
With the Beijing Winter Olympics in 2022 sparking interest, more than 50 indoor ski resorts have been established since 2013. Fosun recently launched its Taicang Alps Resort, attracting 290,000 visitors and generating 113 million yuan in sales within the first half of 2024.
- The collaboration with the Taicang government for future expansions promises further growth in facilities.
- Competition is emerging from other major projects, such as Wintastar, showcasing the vibrant but contested winter sports market.
The ongoing economic concerns have led to challenges within the general tourism sector, yet Fosun's focus on winter sports positions it advantageously. Acknowledging these factors, Fosun remains dedicated to enhancing its market share.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.