Winter sector sees profits snowball

More than 8,500 Chinese companies are currently involved in ice- and snow-related business, with about 55 percent of those established over the past five years. [Photo provided to China Daily]

Based on average figures over the last five years, the United States, Austria and France were ranked as the countries with the highest number of people who went skiing.

China was ranked eighth, and is considered the only fast-growing ski market in the world, according to the report by the Beijing Ski Association.

"With stagnant international travel due to the COVID-19 pandemic, some Chinese tourists who used to go skiing abroad have shifted their habits and now go skiing at premium ski resorts in China," Wu said.

"Still, some sporadic (virus) cases occurred in several regions in China and the strict pandemic prevention and control measures have brought some uncertainties to the demand of the domestic ski market," he said.

After the Winter Olympics, China will stage two other major global sporting events in 2022-the FISU World University Games in Chengdu and the 19th Asian Games in Hangzhou.

The country's success in controlling COVID-19 has allowed sports industry players and investors to embark a new path for business growth.

Investment in the sports industry is expected to pick up this year, with the national fitness drive envisaged as one of the industry's main focuses over the next few years.

By 2025, total revenue in China's ice and snow sector is expected to reach 1 trillion yuan ($157 billion), with more than 500 million people projected to participate in ice and snow activities, according to a report by the General Administration of Sport.