China's snow and ice economy is emerging as a comprehensive economic system fueled by multiple industries. Recent years have seen rapid growth in this sector, driven by rising living standards and increased health consciousness among consumers. This growth positions the snow and ice economy as a significant engine for regional economic development.
The surge in the snow and ice sector reflects new consumer trends centered around health and quality of life. Ice and snow sports not only enhance physical well-being but also connect people with nature, aligning with the growing aspiration for a healthy lifestyle. Consequently, there is a marked increase in demand for personalized, diverse, and experiential consumption. Sports such as skiing and ice skating cater to the desire for novel and unique experiences, thereby stimulating consumer vitality.
As the popularity of ice and snow sports continues to rise, the snow and ice economy is expected to unlock greater consumption potential, injecting fresh momentum into economic growth. A research report on China's ice and snow industry highlights this trend, noting that the sector's value skyrocketed from 270 billion yuan (approximately $37.6 billion) in 2015 to 970 billion yuan (about $135 billion) in 2024. Projections indicate that the value will reach 1 trillion yuan (around $0.14 trillion) by 2025. This impressive growth is primarily driven by the increasing popularity of ice and snow sports and the expansion of ice and snow tourism.
Government policies have played a crucial role in supporting the industry's development. Several initiatives have been introduced to foster growth, with ambitious goals set to achieve a sector value of 1.2 trillion yuan (approximately $0.17 trillion) by 2027 and 1.5 trillion yuan (about $0.21 trillion) by 2030. The rapid advancement of the snow and ice economy is a result of both policy support, which creates a favorable environment for development, and strong market demand, which offers significant growth potential.
The impact of the snow and ice economy is evident in various areas. Participation in ice and snow sports has surged, with the number of enthusiasts reaching 313 million and projected to exceed 400 million by 2025. This rise in participation not only boosts the sports sector but also contributes to broader economic activities, including tourism, hospitality, and retail.
Reference(s):
The rise of ice and snow economy: New engine of China's consumption
cgtn.com
