China’s winter sports “ice and snow economy” is experiencing rapid and sustained growth, positioning itself as a major new engine for consumption and regional development even as the broader economic environment softens. The total market size, which has surged with a compound annual growth rate of 15.4% since the 2015 Winter Olympics bid, is projected to surpass 1 trillion yuan (approximately $136.5 billion) in 2025, growing from 980 billion yuan in 2024. This growth is directly tied to the institutionalization of the Olympic legacy and the sustained momentum of the national initiative to engage “300 Million Winter Sports Participants.”
This boom is driving significant changes in consumer behavior and regional resort growth. The focus is shifting from traditional sightseeing to immersive, experience-based consumption, with consumer spending on winter sports and related leisure activities exceeding 187.5 billion yuan during the 2024-2025 season, up over 25% year-on-year. Cities like Harbin (Heilongjiang) and Altay (Xinjiang) are leveraging their unique “frigid resources” to attract record visitor numbers and investment, accelerating regional economic development and boosting local retail, dining, and transport businesses.The growth is also fueling equipment innovation and industrial maturity across the entire supply chain. The number of enterprises specializing in ice and snow equipment manufacturing has increased substantially, moving from just 300 in 2015 to nearly 900 today. This domestic demand is accelerating technological upgrades in equipment, including artificial snowmaking technology, which is crucial for ensuring a viable ski season in climatically challenged regions and sustaining the industry’s long-term commercial success.
