Korean and Japanese cycle racing: Business comparison

Abstract

Purpose This research analyzed the Korean and Japanese cycle racing businesses by comparing each country’s total profits and total audience from 1996 to 2016. Methods In this process, it used total profits data and total audience data from 1966 to 2016. The data showed an economic correlation between Korean and Japanese cycle racing businesses by using each county’s economic variables. Results According to regression analysis, the income and audiences of Korean cycle racing industry has been increased as their income level has been increased. However, Japanese cycle racing generally has negative effects between income level and other variables except audiences. Moreover, aging population affects negatively to Korean cycle racing industry. In contrast, aging population is less affects to Japanese cycle racing industry. Furthermore, improvement of employment and unemployment rate affects negatively to Korean cycle racing industry. As a result, Korean cycle racing industry looks like a gambling. On the other hands, Japanese cycle racing industry becoming one of leisure sports industry. Conclusions Korean cycle racing industry has to examine closely Japanese’s restructuring method & result. Also, they have to analyze closely Japanese’s sociocultural variables which explain decreasing profits and increasing audiences. In other words, Korea cycle racing industry needs to various methods to becoming leisure sports industry.