There is no such event in the world which can match the prominence of that of Olympics. Olympics is not just a sporting event but also an event of incredible business opportunities. This mega event obliquely underlines the emergence of a new giant economy, whenever it is held in any nation for the first time. In the early 1980’s international business analysts predicted that China would become an economic super power by 2000. China has lived up to this expectation, and corroborated those predictions by hosting Olympics 2008.
Lately, Chinese businesses always had to bear the brunt of criticisms related to piracy of intellectual property, manufacturing of products minus international standards, etc. These allegations led businesses to gradually shy away from Chinese markets. Most businesses believe this lull in the market will be short lived and there will be turnaround in the early 2008 with Olympics in sight.
China’s conscious effort to include SMEs contribution to the forth coming event is evident in the words of Beijing Olympics’ senior consultant on economy, Huang Wei. He says, “Even though the Olympics is a vast project, it consists of many details. It’s like a limousine; although SMEs can’t act as manufacturers, they can make their own contributions to the car by providing various parts,” China’s effort to include all businesses is a commendable achievement because with this they have sealed comprehensive business strategy to bring maximum business to China during the Olympic year.
China’s decision to construct a road to Everest is considered as the most telling selling point employed by any Olympic host nation hitherto. Extrapolations based on previous Olympics, the country is expecting an inflow of tourists in the range of 300,000 during the event, in Beijing alone. After the conclusion of the event the organizers are expecting tourists influx around 8 million, so far the event has conveyed into interest of 3.6 million. To sum up, China is for a bonanza in terms of medals and of course, in business.