Turning snow into gold: China's winter sports boom igniting $181 billion market

NANJING – Skis strapped on, goggles tightened and helmet fastened. Novice skier Wang Lin took a deep breath before hurtling down a 138m-long indoor slope, immersing herself in an exhilarating rush of speed.

For Ms Wang, there is no need to travel thousands of kilometres to China’s frozen northern frontiers. Just 2km from her home in Wuxi, a two-hour drive from Shanghai, lies a fairy-tale-like haven whose decor and soft snow can whisk her into a winter’s dream.

“Skiing is a huge stress reliever,” she said, beaming after her run. “My whole family can visit the ski resort every week. It’s incredibly convenient.”

Known as Wuxi Bonski, the indoor facility spans 17,500 sq m and attracts hundreds of enthusiasts daily.

Notably, around 70 per cent of visitors hail from the Yangtze River Delta region, where sustained snowfall is a rarity. For many urbanites accustomed to mild winters, a facility like this redefines the season in an environment where natural snow remains elusive.

China’s winter sports market is on a meteoric rise. According to a recent industry report, the country’s ice-and-snow economy is expected to reach 970 billion yuan (S$181 billion) in 2024 and surpass 1 trillion yuan in 2025.

Backed by government directives aiming to leverage winter sports as a catalyst for high-quality growth, the sector is forecast to expand to 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030.

As winter unfolds, ice skaters and skiers are spreading well beyond traditional northern strongholds, bringing the speed and adrenaline of winter sports to nearly every corner of the country.

Lack of snow is no obstacle

Ms Wang, who can deftly navigate beginner-friendly green runs, represents a growing cohort of ice-and-snow sports enthusiasts forging a new winter culture in southern China.

“People in the south have always been fascinated by snow, and the 2022 Beijing Winter Olympics truly ignited our passion for winter sports,” she said.

Beijing’s hosting of the Winter Olympics, which spurred the engagement of over 300 million Chinese in winter sports, proved transformative.

Gone are the days when only a niche northern community embraced such pursuits. Now, seniors and youngsters alike glide across ice rinks and swoosh down indoor slopes in places where real snowfall is seldom seen.

The proliferation of facilities has rendered winter sports, once an exotic and expensive pastime, more accessible than ever. Teenagers in warmer locations such as Shanghai and Shenzhen now have regular training options for skating, ice hockey and other winter disciplines.

Data from China’s General Administration of Sport shows that the number of winter sports venues nationwide reached 2,847 by the end of 2023, up 16.11 per cent year on year. Many of these facilities are nestled in southern regions.

For instance, the eastern coastal province of Jiangsu now hosts about 50 ice-and-snow venues covering more than 640,000 sq m, with around 300,000 students from 1,000 schools engaged in winter sports.

In Jiangsu’s Taicang city, the Alps Snow Live indoor ski resort, measuring 54,000 sq m and featuring five slopes of varying gradients up to 280m, draws throngs of children and adults daily.

“In just one year since opening, we’ve welcomed over 300,000 visitors, each spending about 700 yuan on average. Compared with natural snow venues in the north, indoor slopes are more suitable for beginners and children because of gentler inclines and shorter runs,” said its operations manager Xu Xiaoliang.

For China, a relative latecomer to winter sports, the increasing number of novices taking up skiing and snowboarding signals vast market potential.

According to travel platform Ctrip, four of the top five cities for ski-related bookings last winter were in southern China, underscoring winter sports as a major driver of consumption in milder climates.

Snow starts a gold rush

As enthusiasm for winter sports surges, the knock-on effects for tourism, culture and equipment manufacturing are profound.

Winter tourism, for example, boomed last season. China recorded over 385 million winter leisure visits nationwide, a year-on-year increase of 38 per cent, with related revenue up 50 per cent.

In Harbin, a traditional winter tourism hot spot in north-eastern China, last snow season brought over 87 million visitors, up 300 per cent year on year, and 124.8 billion yuan in tourism revenue, up 500 per cent.

With the city set to host the Asian Winter Games in February 2025, right after China’s Spring Festival holiday, the local ice-and-snow economy looks poised for another explosive season.

To accelerate growth in the north-eastern region’s winter economy, the Chinese government has unveiled initiatives including establishing dedicated ice-and-snow holidays, increasing flight routes and optimising visa-free policies, all aimed at attracting more domestic and international visitors.

By strengthening linkages – where beginners start on southern indoor slopes before honing their skills on northern mountains – regions can pool resources and create year-round appeal.

“Winter sports provide a prime opportunity for the ice-and-snow economy to transition from passive sightseeing to immersive, social, experience-based consumption,” said sports economics researcher Wang Yuxiong at Beijing’s Central University of Finance and Economics.

“They can reshape business models, enhance added value and foster sustainable development.”

Major sports events, both domestic and international, are proving their worth. China’s 14th National Winter Games, held in February in Inner Mongolia, is estimated to have generated about 32 billion yuan in sports-related spending during the competition period.

Moreover, China’s winter sports equipment industry is snowballing, driven by advancements in 5G, artificial intelligence and virtual reality (VR). Think smart ski insoles that track performance and analyse data, heated snow boots that stay warm for five hours, and VR simulators that bring alpine thrills into one’s living room.

China now boasts a comprehensive suite of 15 categories of ice-and-snow equipment across the supply chain, from headgear to footwear, individual gear to venue equipment, and competitive apparatus to recreational tools.

“China’s ice-and-snow economy is a gold mine. Success hinges on crafting distinctive advantages and making winter sports irresistible to consumers,” said Associate Professor Yan Yan at the Nanjing University of Technology.

“The task is to ensure sustained effort and inspire more people to lace up their skates, strap on their skis and join the ride.” XINHUA