Frontiers in Business, Economics and Management ISSN: 2766-824X | Vol. 8, No. 2, 2023 109 Analysis on the Economic Growth Effect of International Event on Host Country -- Taking Beijing Winter Olympics as An Example Chuyi Yuan, Xingyue Dong, Yuqi Yao, Jia Sun, Tong Bao Nanjing Audit University, Nanjing, Jiangsu 211815, China Abstract: As an important part of the Olympic Games, the Winter Olympic Games has developed into one of the most influential sports events recognized in the world. For the host country, the significance is more than just a sports event. Whether it is the Winter Olympics or other international events, they all play an important role in promoting economic and social development. Taking the 2022 Beijing Winter Olympics as an example, this paper focuses on China's economic growth before and after the Beijing Winter Olympics, including its cultural and tourism market development, payment methods, communication technology, infrastructure improvement, regional economy and other aspects of the impact, and then compares and summarizes experience from the development of previous international events. Finally, it puts forward the countermeasure proposal of international pageant to promote our economic growth. Keywords: Beijing Winter Olympics, Economy, International event, Development. 1. Introduction The Beijing Winter Olympics have brought sustained social and economic benefits to the Chinese people, as well as improvements in the health, leisure, social and economic sectors. Affected by the epidemic, many people benefited from cutting-edge technology and digital innovation to watch the Beijing Winter Olympics remotely, making the Winter Olympics boom far beyond the geographical limitations. This paper will analyze and summarize the positive effects of the Beijing Winter Olympics on China's economic development in terms of cultural and tourism market development, payment methods, communication technology, infrastructure improvement, regional economy and other aspects. In order to put forward effective suggestions for the vigorous development of future international event. 1.1. Ice and snow sports boost the new growth of cultural tourism industry The successful hosting of the 2022 Winter Olympics in Beijing has showcased the charm of ice and snow sports on the world stage. Zhangjiakou City of Hebei Province gives full play to the favorable conditions and advantages, quickly captures the spillover effect of the "post-Olympic era", builds the snow and ice characteristic tourism resort, attracts investment and develops the rural homestay industry, takes the cultural and tourism industry as the focus of post- competition development, and fully releases the economic influence of the Winter Olympics. In addition, the IP of the Winter Olympics has also brought new consumption growth points for related cultural and creative industries. Cultural and creative products with the theme of snow and ice have a big advantage in the market. 1.2. Digital RMB constructs the new pattern of Olympic consumption Since 1986, cash and Visa have been the only payment options for Olympic venues, but the Beijing Games have changed that. As the largest trial of digital renminbi to date, the Beijing Winter Olympics has constructed more than 400,000 application scenarios, covering all consumption sectors. Relying on blockchain technology, the digital RMB is convenient and can protect users' privacy, fully meeting the consumption needs of the Olympic Games. According to the data released by SWIFT, in the global currency payment statistics based on amount in January 2022, the proportion of RMB in global payment reached 3.2%, a record high [1]. The successful trial of the Beijing Winter Olympics is expected to promote the application of digital RMB in the cross-border payment scene, and further help the promotion of the international payment of RMB, and construct a new pattern of Olympic consumption. 1.3. Advances in communications technology have led to new experiences The Winter Olympics venues will be fully covered by gigabit 5G network to ensure stable and smooth 4K and 8K HD livestreaming of the opening ceremony and events. Through VR, AI and other technological means to realize the "meta-universe" combining virtual-reality, enabling the Beijing Winter Olympics and bringing immersive experience and interactive experience to the audience [2]. These communication technologies have also made breakthroughs in their application by utilizing a large amount of information of the Winter Olympic Games, acquiring new approaches, new experiences and new models, and accelerating the integration of new technologies and new media, so as to achieve faster and better development. 1.4. Heritage economy catalyzes infrastructure upgrading After completion, the Winter Olympic venues can be closely integrated with the existing urban economic, social, cultural, environmental and other factors, and make full use of the tangible heritage and its intangible value, so as to bring considerable long-term benefits to the host city. The Beijing 110 Winter Olympics has increased the frequency of use of venues by encouraging full and long-term use and upgrading various facilities. The transformation of former factories, warehouses and commercial buildings into ice and snow sports venues has also been recommended by the local government. Since the first anniversary of the Beijing Winter Olympics, the venues have been smoothly connected and operated for a long time, and the utilization rate of the permanent venues after the games has reached 100%. [3] The economic legacy of the Winter Olympics effectively spreads the culture of the Winter Olympics, and drives the transformation and upgrading of the snow and ice equipment manufacturing industry and the prosperity of the snow and ice equipment market. 1.5. Effectively promote regional economic integration The development and application of communication technology, the use of post-Olympic venues and other economic growth points are also of great significance for promoting the integration of Beijing, Tianjin and Hebei and promoting the coordinated development of the region. In addition, the opening of Beijing-Zhangjiakou high-speed railway enables the Winter Olympic Games to promote Zhangjiakou into Beijing's economic circle. After the games, Zhangjiakou's tourism and related industries together bring high economic benefits to the local, and the worldwide flow enhances the local cultural soft power. Therefore, it is the only way to develop regional economy to take advantage of the opportunity of the grand meeting to enhance innovation ability, develop new technologies, cultivate innovative talents and build an innovative province [4]. 1.6. To provide enterprises with international competition and cooperation platform[5] The Winter Olympics provide a broad international market for enterprises. Beijing Winter Olympic Games signed sponsorship enterprises, covering venue construction, sponsorship services, technical support, energy and transportation facilities, licensed product sales and other segments, the Winter Olympic Games for these enterprises to provide a rare opportunity for development. With the help of the international platform, these enterprises promote their products, services and technologies to the world, promote their brands to the world, and provide a platform for enterprises to participate in international competition and cooperation. 2. Investigation and Analysis of Young People's Perception of Economic Effect of Beijing Winter Olympics There are 100 valid respondents in this survey, 82% of whom are young people, mainly college students, mainly distributed in East China, South China and Northeast China. Through the questionnaire, the following five questions were investigated and analyzed statistically. When asked about the "understanding of the digital currency of the Winter Olympics", 44% of them are familiar with it and have followed relevant reports; 35% understand, just heard; 11% are very familiar with it and have experienced it in the Winter Olympics; 10% have no idea. It can be seen that the Winter Olympics has played an effective role in promoting the popularization of digital currency in all aspects of life, which has attracted the attention of contemporary young people. However, there are still a small number of people who are very familiar with digital currency, and their usage rate is far lower than that of third-party payment tools. With the help of the scene application of international events, it is expected to realize the curve overtaking on the road of RMB internationalization. In response to the question "If you are in charge of the organizer, will you use the venues left over from international events for other economic activities?" 63% of them said yes; 24% more willing; 3% are less willing. It can be seen that almost all respondents are willing or willing to use the sites left by international events for other economic activities, which shows that sustainable development is an important concept rooted in the hearts of young people. 94% of them hope to recommend more personalized themed cultural and creative products for international events (take the Winter Olympics as an example). It can be seen that young people are enthusiastic about and expect personalized themed cultural and creative products for international events. In this respect, it can be seen that the development of cultural and creative products may become the breakthrough point of new consumption growth. When asked how they learned about the brands related to the marketing of the Winter Olympics (multiple choice), 67 percent of them were from Olympic athletes. 81% through Winter Olympics cultural and creative products; 77% use short video promotion about the Winter Olympics, which shows that the brand effect of Olympic athletes is the dominant way of the Winter Olympics marketing. A large number of people are attracted by exquisite cultural and creative products and short videos, which are the main way of the Winter Olympics marketing. As for the question "what kind of consumption in international events (take the Winter Olympics as an example) (multiple choices)", 75% are cultural and creative products; 47% travel; 59% watch games; 16% for other consumption; Twelve percent did not consume. It can be seen that cultural and creative products are the most effective way and also the hot topic of consumption. Therefore, it is an important way to promote economic growth to grasp the public aesthetic, continue the freshness and enthusiasm of people, and devote to the research and development and publicity of cultural and creative products of international gala. 3. Comparative Analysis of International Gatherings at Home and Abroad 3.1. Venue construction concept Taking the 2022 Beijing Winter Olympics as an example, the construction of venues in the Beijing competition area is characterized by the maximum use of the 2008 Olympic legacy. Both the new venues and the reconstruction of the old Olympic sites always reflect the sustainable ecological design concept of "ice and snow are gold and silver mountains". Similarly, the Pyeongchang Winter Olympics has put forward the "O2+ Plan" to implement the concept of low carbon and environmental protection in venue construction, so as to achieve the purpose of energy conservation and emission reduction and improve the ecological environment quality of the competition area. This shows that all countries in the world take sustainable development as the goal and jointly protect the ecological environment of the earth. In addition, the design concept of Shougang ski Jump is based on the "flying sky" element in Dunhuang murals, and the industrial heritage value of the old factory is fully considered, so as to 111 perfectly integrate the Oriental culture with the old industrial site culture of Beijing [6]. Its cultural deposits and innovative ideas are different from those of national international venues under different cultural backgrounds. 3.2. The use of venues after games Other countries have something in common with China when it comes to post-match recycling at stadiums. The ice venues of the Turin Winter Olympics host the FIBA Olympic Qualifiers and the World Fencing Championships after the Games. The main stadium of the Sochi Winter Olympics has become one of the venues for the 2018 Football World Cup. The 1988 Olympic Saddlefield was home to the Calgary Flames NHL team[7]. After the competition, the venue will be reused in many ways. In addition to using the previous venue, supporting commercial, residential or office buildings will be built around the venue. For example, the Tokyo Olympic Games adopted the design scheme of "Tokyo Garden" project, which fully considered the contradiction and problems between post-competition utilization and environmental protection, and solved the consequences brought by this imbalance. As the most official venues of the Winter Olympics, the host city and even the host country should be encouraged to form more abundant features of ice and snow. 4. Countermeasures and Suggestions for Promoting Domestic Economic Growth in International Event (1) In-depth exploration of the cultural background of the competition. Focus on strengthening the cultural publicity of the events, enriching their cultural connotations, digging deep into the cultural background of each project, improving the "soft power", attracting more people to understand and participate in the project, and driving consumption. We will make good use of 5G, cloud computing and other advanced information technologies, seize the opportunity to promote the implementation of the grand event with technology, and at the same time carry out large-scale experiments on new technologies, so as to broaden our development space[8]. (2) Achieving interconnected development between the Grand meeting and the region.Strengthen the pattern of neighboring regions as the leading and nationwide support, and actively promote the joint development of venue resources between regions. At the same time, not only limited to the event before and after, expand its influence in time and space, promote the combination of Winter Olympics culture and regional culture and tourism, fully open to the public, four seasons operation, and obtain long-term economic development. (3) Strengthen the integrated development of industries. Promote its integrated development with culture, leisure tourism, pension, skills training, construction and other related industries[9], use scientific and technological means and Internet thinking, cultivate new forms of business, create new models, create the whole industrial chain, form an industrial system with the integrated development of derivative industries and related emerging industries, and provide new driving force for the long-term sustainable development of industrial economy. Acknowledgment Fund Project: 2022 Spring College Students Innovation and Entrepreneurship Training Program Project; (Project number: 2022SX06008Z) References [1] Wu Li. Digital RMB Taking advantage of the "Winter" wind of Olympic Games [J]. Foreign Investment in China, 2022 (05): 72-73. [2] Wu Fanfan, Li Jing. News Communication Strategy of Beijing Winter Olympics under the background of media convergence [J] Southeast Communication, 2022, No. 10:69-70. [3] Sansha TV. 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