A professor at the Shanghai University of Finance and Economics predicted during the 2010 10th Annual China (Shanghai) FMCG Summit for Senior Staff on February 4th, that the economic benefits produced by the 2010 Shanghai World Expo will be 3.49 times those created by the Beijing Olympics.

Professor Chen predicted that Shanghai World Expo will increase Shanghai’s production revenue by 79.5 billion RMB (11.6 billion USD) and overall consumption by another 46.9 billion RMB (6.9 billion USD). The boost in consumption will mainly be distributed amongst the hotel industry, airline industry and retail industries, as these are industries that will benefit directly from the expected tourist boom this summer.

According to Chen, the official figure of 70 million tourists this year for the World Expo isn’t necessarily all first-time tourists traveling specifically to the event. At the moment, statistics show that over 100 million visitors travel to Shanghai each year, and the assumption is that many of them will be returning for the World Expo event this year.

Visitors are expected to do most of their spending on dining, shopping, and entertainment during their stay in the city – of which revenues for shopping and retail alone are expected to reach 17.5 billion RMB (2.6 billion USD). According to his rather conservative calculations for how much each person is expected to consume and spend, local visitors will spend an average of 80 RMB per person (11.7 USD). Domestic visitors traveling to Shanghai for the event will spend an average of 88 RMB per person (12.9 USD) and international visitors will spend 157 RMB per person (23 USD).

Special Focus: Expo 2010 Shanghai - Expo News, Events, Tickets and more

Source: ifeng.com

Related Links
What Will The Legacy of the Shanghai Expo Be?

Warning：The use of any news and articles published on eChinacities.com without written permission from eChinacities.com constitutes copyright infringement, and legal action can be taken.