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India targets GCC investors to fund huge amusement parks expansion

India`s amusement parks and family entertainment industry is targeting Gulf investors

The drive is being spearheaded by the Indian Association of Amusement Parks and Industries (IAAPI), a non-profit making industry body established in 1999. IAAPI estimates the current size of India`s amusement park market is US $ 40 million. This, the body says, is expected to more than triple to US $133 million in 2004. …

The drive is being spearheaded by the Indian Association of Amusement Parks and Industries (IAAPI), a non-profit making industry body established in 1999. IAAPI estimates the current size of India`s amusement park market is US $ 40 million. This, the body says, is expected to more than triple to US $133 million in 2004.

Similarly, the family entertainment centre sector is also set to expand rapidly, with investment in the next three years increasing from US $30 million to US $196 million.

`Over 80 new amusement parks and leisure facilities are planned for the immediate future, providing huge business opportunities for GCC investors,` said Alkarani Agarwal, IAAPI. `The demand is being driven by a massive increase in tourism. Between 1990 and 2000 the number of people visiting India increased by 100 million to 176 million. Double digit annual growth is expected to continue well into the future.`

IAAPI brings together operators, manufacturers, importers, traders, suppliers, distributors and others allied to the amusement and leisure industry. It also lobbies the Indian government on industry related issues.

The Mumbai-based organisation launched its GCC investor campaign at Theme Parks and Fun Centres (TPFC) 2003 – the Middle East`s only trade show for the region`s amusement parks and attractions industry – that concluded at the Airport Expo yesterday.

Organised by International Expo Consults (IEC), TPFC 2003 features 92 exhibitors from 25 countries, spanning North and South America, Europe, the Middle and Far East, Indian Sub Continent and Australasia.

TPFC 2003 is supported by the World Water Parks Association, the International Association of Amusement Parks and Attractions, the Korea Amusement Machine Manufacturers Association and the American Amusement Machine Association. The trade-only exhibition is open from 10 am until 1pm and from 4.30pm until 8.30pm. Children under 16 years will not be admitted.

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