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As the market recovers poise in the upcoming years, growing popularity of mass entertainment, and the tendency of families to spend a large portion of their discretionary free time on outdoor fun will continue to drive growth. With governments in developing countries focusing on promoting tourism and entertainment, the upcoming years are expected to witness growth in attendance and per capita spending on theme parks in countries such as Korea, Taiwan, Hong Kong, India and China. Growth in attendance is also…
As the market recovers poise in the upcoming years, growing popularity of mass entertainment, and the tendency of families to spend a large portion of their discretionary free time on outdoor fun will continue to drive growth. With governments in developing countries focusing on promoting tourism and entertainment, the upcoming years are expected to witness growth in attendance and per capita spending on theme parks in countries such as Korea, Taiwan, Hong Kong, India and China. Growth in attendance is also expected to stem from entertainment-related technology development and sophistication, which help offer visitors cutting-edge amusement, and fun.
Future growth will stand enthused by the numerous advancements made in entertainment technologies such as real life simulations, virtual reality, and high quality visual imagery, among others. Examples of innovative simulations include intergalactic space races, runaway sports cars in the Italian Alps, river rafting in New Zealand, and aquariums with acrylic tunnel concepts involving underwater rides with a scuba diver’s view. While the United States dominates the world theme parks market, Asia-Pacific is expected to drive future growth, followed by Eastern Europe, and Middle East. Rationale for growth in the developing countries is the anticipated rise in tourism, and a parallel rise in the number of foreign tourists visiting these destinations. Other factors expected to impact the market include spike in aging population, persistent park modernization and continuous improvements in facilities, and services provided. Player-knit strategies, which are designed to magnetize visitors, and increase repeat visitations, include providing clear and green parks, and easy online ticketing, among others. The concept of indoor theme parks combined with retail shopping centers is expected to help the market score huge gains in the upcoming years. Examples of this type of theme parks include Mall of America located in Minneapolis USA, Lotte World in South Korea, and West Edmonton Mall in Canada.
As stated by the recent report published by Global Industry Analysts, Inc., world theme parks market is dominated by the United States with a share of over 50% estimated in the year 2008. Emerging markets of Asia-Pacific, and Middle East/Africa are expected to offer the highest potential for growth. Theme parks market in Latin America is expected to rise by US$53.2 million between the period 2008 to 2012. In Europe, Germany, France and United Kingdom, together, collar close to 62% of the market. Revenues in the Russian theme parks market are projected to reach US$154.4 million by the year 2015.
Leading theme parks worldwide include The Adventuredome, Blackpool Pleasure Beach, Busch Gardens Europe, Cedar Fair L.P., Disneyland, Disneyland Paris, Disney-MGM Studios Theme Park, Disney’s Animal Kingdom, Samsung Everland Inc, Islands of Adventure, Lotte World, Magic Kingdom, Six Flags Inc, Tokyo Disneyland, Tokyo Disneysea, Universal Studios, Universal Studios Hollywood, and Yokohama Hakkeijima Sea Paradise, among others.
The report, titled “Theme Parks: A Global Strategic Business Report” published by Global Industry Analysts, Inc., provides a comprehensive review of the market trends, drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Latent revenue generating potential of theme parks is quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, United Kingdom, Italy, Spain, Russia, Asia-Pacific, Middle East/Africa and Latin America. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
