China’s sportswear market will surpass luxury goods market by 2020. It see double digit growth each year compared with the luxury market's single digit growth in the same period. The sports sector contributes 0.67 per cent of China’s total gross domestic product compared with 2.2 per cent in the European Union and 3.5 per cent in the United States.
Extreme sports apparel and expensive active wear are in vogue ahead of the 2022 Winter Olympics in China. The market is also forecast to grow with the country’s decision to relax its one-child policy after 36 years, and companies from the US and Canada are lining up to cash in. Some Chinese come to weddings in active wear. A growing fitness craze saw 134 marathon and road-running races held across the country last year up 160 per cent from 2014. It’s estimated that by 2025, more than 9,00,000 stadiums and gyms will have been built across the country.
China’s slowest economic growth in 25 years has forced China's elite to change their spending habits. Some of the money once spent on French wine and Italian leather now appears to be flowing into high-end heart-rate monitors and running shoes.
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