Researching On The Tourists’ Consumption Of Wuhan International Horse Race Festival

In the era of economic globalization and regional economic integration, competition between cities and countries increased and organized sports events proved to be one of the most effective ways to increase the competitiveness of the city. After the success of the2008Beijing Olympic Games, the city managers of every level felt the benefits personally brought by organized sports events and passion for sports events organized lit. Various sports events organized everywhere in China. Wuhan in Hubei Province, which has deep horse racing tradition, use the local cultural and geographical advantages to organize the top horse racing events Wuhan International Horse Racing Festival, trying to regain the "Racing Capital" reputation and build a city card with horse racing. However, sports events require govern departments spend enormous energy and money. Therefore, assessing the economic impact of sports events, in order to understand the current situation and whether the events develop in line with the expectations, become very important.The paper researched the tourists’ consumption of the11th Wuhan International Horse Racing Festival, used the input and output model to estimate the economic impact of the new funds from the festival’s tourists’ consumption and also compared the data between Wuhan and Melbourne Cup Horse Racing Festival. Finally we found four problems of Wuhan International Horse Racing Festival:the attraction is not high, the economic influence is small, the pattern of consumption is less and the awareness of festival is low. Further analysis revealed that the four issues mainly due to:firstly, the horse culture influence decline and lack of driving force:secondly, horse racing festival industrial chain is not complete and the participation of the masses is not high:thirdly, the commercial horse racing industrial chain is lack of policy support; fourthly, the commercial horse racing is lack of blameless legal protection and operation mechanism.This paper presents several recommendations on the development of Wuhan International Horse Racing Festival:the first is promoting the sport of horse racing by popularizing the horse racing and deepening the knowledge of horse racing and racing culture to expand the tourism base; the second is enhance the level of horse racing, strengthen research of horse racing business, establish the own advantages, obtain policy support; the third is adhere to the concept of diversification, stick to the market, take commercial model and make the horse racing festival become business platform; the forth is strengthen the horse racing festival publicity, build a nationwide net, which include the Internet, television, radio, newspaper and other new media, to promote the racing online. Besides, combine with the offline activities such as racing games, free riding. By the interactive three-dimensional model, we can expand the promoting surface, enhance the economic impact of horse racing festival.