World Theme Parks Market to Reach $28.7 Billion by 2012
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.
