Global Theme Parks Market to Reach US$31.8 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on Theme Parks markets. World market for Theme Parks is projected to reach US$31.8 billion by the year 2017. Growth will be primarily driven by increased consumer per capita spending on entertainment and leisure platforms, and growing base of middle class households, increasing disposable incomes, urbanization in developing countries, and waxing popularity of mass entertainment.

Theme Parks: A Global Strategic Business Report

Follow us on LinkedIn – Theme parks are outdoor locations, which offer specialized amusement along a preconceived theme. Traditional theme parks comprise various themed lands containing rides (roller coasters, etc), games, concerts and themed events originating from specific subjects such as countries, myths, fairy tales and movies, among others. 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.

North America and Europe represent mature markets for theme parks with growth in visitor attendance stabilizing. Increasing competition from other modes of entertainment, continuing economic woes such as high levels of unemployment, and widening deficits will continue to challenge growth in these markets. Future growth in the world theme parks market will stem from developing countries in Asia-Pacific, Latin America and Middle East. Asia represents one of the fastest growing regional markets worldwide largely as a result of strong economic growth, rising standards of living, income levels, discretionary income, and increased per capita spends on entertainment/leisure. China, which houses few of Asia’s largest theme parks, is witnessing healthy growth.

A key noteworthy trend in the theme parks market is the park within a park concept. Most of the parks are adding second-gate attractions and a number of hotel rooms as part of attempts to restructure parks into integrated resorts, capable of operating throughout the year. Investments in park upgradation such as installation of new rides, creation of new zones in the park, deployment of interactive and wireless technologies including Wii, RFID badges, and kiosks, to make the park more interactive and lively, are all expected to help bolster attendance in the upcoming years. Another key technology trend, is the move towards adoption of simulation technologies, and virtual reality to replicate natural scenarios. High-end visual imagery with sophisticated special effects designed to optimize visitor experience is forecast to result in magnetizing greater crowds to the parks.

World market for theme parks, which witnessed growth sag in the year 2009 as a result of the recession’s downward pressure on consumer spending, staged a recovery in the years 2010 & 2011. In Europe despite the concerns over the debt crisis, international attendance at European theme parks continues to hold up. The depreciation of the Euro amidst the pressures exerted by the eurozone debt drama is positively benefiting tourism in Europe with the number of middle class Asian tourists increasing in the region. In the event of the Greek crisis further pulling down the Euro, luxury goods in Europe is expected to become cheaper. This thereby will result in increased number of travelers from Asia, especially China, for cheaper luxury shopping. The strengthening RMB and a weakening Euro is making travelling to Europe cheaper for the Chinese. This higher influx of outbound tourists into Europe is expected to help theme parks in the region withstand the debt crisis.

As stated by the new market research report on Theme Parks, the United States dominates the world market. Strong growth is however expected to stem from Asia-Pacific, with the region projected to grow at a CAGR of 6.3% over the analysis period. Focused promotion of entertainment and tourism by governments in Asia is expected to improve per capita spending and attendance in theme parks in countries such as China, India, Korea, Taiwan, and Hong Kong.

Major players in the marketplace 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 market trends, drivers, issues, competitive scenario, strategic corporate developments, and profiles of major/niche global as well as regional market participants. The report provides annual revenue estimates and projections for theme parks for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East/Africa, and Latin America.

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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

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

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website