中央财经大学王裕雄教授：我国户外运动产业处于生命周期的初期阶段，优质户外运动自然资源稀缺

Core Insights - The outdoor sports market in China is experiencing significant growth, with participation exceeding 400 million people as of early April 2023, making it one of the strongest sectors in the sports industry [1][4] - The sports industry is viewed as a "new blue ocean" with long-term growth potential, but faces challenges such as long investment return cycles and financing difficulties [1][4] - Financial innovation is essential for the sustainable development of the sports industry, particularly in addressing the unique challenges faced by outdoor sports [6][9] Industry Trends - The sports industry's contribution to GDP in China is currently just over 1%, indicating substantial room for growth compared to other countries where it exceeds 4% [4] - The sports service sector has seen a significant increase in its share of the sports industry from 2015 to 2023, primarily driven by fitness and recreational activities [4] - The spectator sports sector has lagged behind, with its contribution to the sports industry only increasing from 1% in 2015 to 2% in 2023, highlighting a lack of high-quality competitive products [4] Future Development - The sports industry is expected to maintain an average annual growth rate of around 10%, transitioning from a "single-driven" model to a "three-driven" model that includes event economics, sports goods, and collaborative development [5] - The integration of sports with other sectors is crucial for meeting consumer demands and creating sustainable business models [5] Financial Innovation - The outdoor sports industry requires tailored financial solutions due to its early-stage development and the steady growth of revenue in many projects [9] - Examples like ski resorts demonstrate the potential for profitability despite high initial investments, suggesting that financial instruments like asset securitization could be explored to alleviate funding challenges [9][10] - The introduction of public REITs for sports infrastructure is seen as a way to enhance liquidity and lower investment barriers, which could lead to a new phase of financing for outdoor sports facilities [10]