In addition to thousands of athletes, more than 80 heads of state and about 30,000 members of the media, another group is expected to invade Beijing in force for the Olympics next month: corporate executives.
Lured by the growing importance of the Chinese market and the chance to help Beijing celebrate its biggest international event yet, the number of chief executives planning to attend the Beijing Games is likely to rival the number at the annual World Economic Forum meeting in Davos, Switzerland, which often attracts more than 1,000 business leaders.
'It goes beyond just a wonderful sporting occasion. There are political and economic implications,' says Sir Martin Sorrell, chief executive of advertising conglomerate WPP Group PLC, who is planning to attend. 'You could call it a sporting Davos.'
Many executives see the Olympics as a can't-miss event for companies that do business in China, or hope to. Bill Gates, chairman of Microsoft Corp., is set to attend, for instance, as is General Motors Corp. CEO Rick Wagoner.
But the invasion of corporate bigwigs is leading to headaches: How can you give someone VIP treatment when everyone is a VIP?
With dozens of executives flying in on private planes, airspace clearance is a problem. Not to mention front-row seats to hot events -- tickets for the opening ceremony are now going for $50,000 in the gray market.
Olympics officials say that because of traffic controls, some bigwigs will have to forgo their usual limos and take the bus (luxury coaches, of course). Limousine companies say they are almost booked solid. Nearly all the of the dozens of BMWs at First Automobile Leasing Co. have been reserved for the Olympic period for 15,000 yuan ($2,190) daily, quadruple normal rates, says a person in the reservations department.
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