Global Theme Parks Market to Reach US$29.5 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Theme Parks markets. The global market for theme parks is forecast to reach US$29.5 billion by the year 2015. Key factors driving growth of theme parks include the tendency of families to spend their discretionary free time on outdoor fun, and increasing popularity of mass entertainment. In addition, focused promotion of entertainment and tourism by the governments in developing countries is expected to encourage the market, especially in developing countries.

Theme Parks: A Global Strategic Business Report

Visitor attendance remained more or less sluggish in theme parks across the world during 2009. The rather flat visitor attendance in theme parks was due to the turmoil in the global economy. Weak economy restricted the consumer expenditure on certain avoidable spending such as visiting a theme park. The trend was significantly visible in matured markets including North America, Europe, and Japan. However, with the recovery in economy, attendance is poised to improve driven by tendency of families to spend their discretionary free time on outdoor fun and increasing popularity of mass entertainment. Further, operators’ increased focus on the development of sophisticated entertainment-related technology capable of delivering amusement and fun to visitors is expected to benefit the market. In addition, focused promotion of entertainment and tourism by the governments in developing countries is expected to improve per capita spending and attendance in theme parks in countries such as China, India, Korea, Taiwan, and Hong Kong.

Theme parks and attractions have emerged as favorite modes of mass entertainment for people in recent years. Amusement parks involving roller coaster rides developed and gained popularity at the turn of the century. On the other hand, theme park is a relatively new entertainment concept that strives to generate a fantasy environment of another place or time. Theme parks are usually planned to serve as a fun outing for the entire family, and they are considered a form of leisure activity as they offer an opportunity for entertainment during an individual's discretionary free time. Amusement Parks and theme parks incorporate themes or stories combined with visual statements around which landscaping, architecture, rides, costumed personnel, food services, and shows, and coordinated merchandising. Inauguration of Disneyland in Anaheim, California in 1955 represents a key milestone in the worldwide live entertainment industry.

The United States represents the largest regional market for theme parks worldwide, as stated by the new market research report on Theme Parks. A majority number of theme parks experienced the impact of the economic recession in the US during 2009. Decline in jobs, consumers staying away from excess spending, and weak tourism, all resulted from turmoil in the economy, pressured the theme parks market in the country during the year. The normalcy in economy and the likely growth in tourism, especially the European tourist arrivals, are expected to improve the market revenues in the coming years. Asia-Pacific theme parks market is poised to demonstrate the fastest growth with revenues projected to grow at a compounded annual rate of 6.1% over the analysis period.

Usage of entertainment-related technology is increasingly becoming imperative for the success of a theme park. A major focus on service development is in the usage of simulation experiences and virtual reality. Technological advances have permitted theme park designers to effectively replicate almost any special effect and natural scenario. High-end visual imagery is combined with ultra-sophisticated seating that respond to users’ actions, imparting realistic experience of enjoyment that was unavailable previously in theme parks. One of the earliest and most popular examples of the technology is the Disneyland’s Star Tours attraction. While these simulations are developed for a fraction of the cost of traditional attractions, their technology is also more flexible, and more land efficient. However, one of the biggest challenges faced by theme parks is to keep abreast latest technological developments while retaining the excitement and spontaneity of actual rides.

Major players profiled in the report include Cedar Fair Entertainment Company, Disneyland, Disneyland Paris, Disney's Animal Kingdom, Islands of Adventure, Lotte World, Magic Kingdom, Samsung Everland Inc., Six Flags Inc., The Adventuredome, Tokyo Disneyland, Tokyo DisneySea, Universal Studios, Universal Studios Hollywood, Yokohama Hakkeijima Sea Paradise, among others.

The research report titled “Theme Parks: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the theme parks markets, current market trends, competitive scenario, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual revenue estimates and projections for theme parks market for the years 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East/Africa, and Latin America. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Theme_Parks_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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