The 2024 Shanghai Sports Consumption Festival Achievements Launch Ceremony and Shanghai Sports Industry Conference were held at the Shanghai World Expo Exhibition and Convention Center on Nov 29. [Photo by He Qi/chinadaily.com.cn]

The 2024 Shanghai Sports Consumption Festival Achievements Launch Ceremony and Shanghai Sports Industry Conference were held at the Shanghai World Expo Exhibition and Convention Center on Nov 29.

As one of the four professional forums at the 2024 Shanghai Sports Show, the conference revealed the key highlights of this year's festival, which commenced in April.

More than 500 collaborative projects, fusing sports, culture, business, travel and exhibitions were orchestrated in partnership with six exclusive strategic allies: the Shanghai Branch of China UnionPay, the Industrial and Commercial Bank of China Shanghai branch, Bailian Group, Ctrip, Meituan and Dewu App, alongside 17 sports projects. This effort created a high-quality resource pool worth over 265 million yuan ($36.7 million).

In addition, significant spillover effects from major events are evident. According to data from Ctrip, during events such as the 2024 Formula One Chinese Grand Prix and the 2024 Rolex Shanghai Masters, hotel bookings in surrounding business districts saw a month-on-month increase of approximately 57.58 percent to 168.67 percent, while orders for nearby attractions at least doubled in terms of revenue.

Meanwhile, an additional 20 million yuan ($2.8 million) was allocated to the beginning-of-the-year budget of 40 million yuan ($5.5 million), bringing the total to 60 million yuan ($8.3 million), to empower small-and-medium-sized sports enterprises.

Various activities of the sports consumption festival garnered over 3.3 billion exposures across all platforms, significantly boosting consumer traffic in commercial areas, with the highest year-on-year increase exceeding 70 percent.

Furthermore, overall sales were increased by at least 10 percent, highlighting the significance of sports activities in fostering consumption.

Besides the 2024 Shanghai Sports Consumption Festival Achievements Launch Ceremony and Shanghai Sports Industry Conference, the 2024 Shanghai Sports Show also hosted three other forums, focusing on topics such as the latest global sports rehabilitation advancements, technological innovations in scientific training, and event brand incubation pathways.

As the core project of the Shanghai Sports Consumption Festival, the exhibition has expanded by 50 percent compared to last year, featuring an exhibition area of 30,000 square meters and over 200 participating brands.

This year, seven major sections have been comprehensively upgraded, offering a rich array of interactive experiences and exhibition content, attracting consumers to actively participate in activities.