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The Olympic Games only span several days, but their econom- ic impacts last years and can be quantified on the level of GDP. Chen Jian, Secretary General of the Beijing Olympic Economy Research Association (OERA), noted that the Olympic economy essentially lasts nearly a decade, beginning in 2001 when China won the bid for hosting the 2008 Olympic Games and ending three years afterward. He Zhenliang, Honorary Chairman of the Chinese Olympic Committee and member of the International Olympic Committee (IOC), has the following estimates: The Olympic Games, on average, will add 1.7 percentage points per year to Beijing’s GDP. By 2007, Beijing’s GDP is expected to reach 600 billion yuan. During this decade, the service sector in the city will experi- ence an average growth of 13.7 percent per year, while growth in finance and insurance, tourism and exhibitions, commercial services and logistics is expected to average 10-14 percent. The number of new jobs created will reach 320,000 per year. Of course, this new Olympic economy is a prime opportunity for investors.
The Olympic Games only span several days, but their econom- ic impacts last years and can be quantified on the level of GDP. Chen Jian, Secretary General of the Beijing Olympic Economy Research Association (OERA), noted that the Olympic economy essentially lasts nearly a decade, beginning in 2001 when China won the bid for hosting the 2008 Olympic Games and ending three years afterward. He Zhenliang, Honorary Chairman of the Chinese Olympic Committee and member of the International Olympic Committee (IOC), has the following estimates: The Olympic Games, on average, will add 1.7 percentage points per year to Beijing’s GDP. By 2007, Beijing’s GDP is expected to reach 600 billion yuan. By this decade, the service sector in the city will experi- ence an average growth of 13.7 percent per year, while growth in finance and insurance, tourism and exhibitions, commercial services and logistics is expected to average 10-14 percent. The number of new jobs created will reach 320,000 per y Of course, this new Olympic economy is a prime opportunity for investors.