Water Parks in the US Industry Market Research Report from IBISWorld Has Been Updated
New York, NY (PRWEB) January 22, 2015 -- The Water Parks industry has made a big splash during the past five years, as the industry has recovered strongly from the recession's negative impact. Being driven by steady growth in both domestic and international tourist numbers, the industry has grown at a faster rate than the overall economy since the recession. According to IBISWorld Industry Analyst James Crompton, “Increased consumer spending has also played into the industry's growth as consumers have splurged on discretionary items such as water park tickets.” In the five years to 2015, industry revenue is expected to grow, including marginal growth in 2015.
The industry's biggest water parks are owned and operated by global players such as SeaWorld Entertainment Inc. and The Walt Disney Company. According to the Themed Entertainment Association, the top 20 water parks in the United States recorded attendance of 15.4 million people in 2012, up 2.2% from 2011. These destination parks attract visitors from out-of-state and overseas who sometimes make the trip for the specific purpose of visiting a water park. Disney and SeaWorld's parks alone attract more than 5.0 million visitors each year. Outside of these major operators, the industry consists of a wide range of local water parks run by local municipalities and independent companies. These smaller water parks serve the local area and tend to be less profitable than major parks due to their limited economies of scale.
The Water Parks industry's recent growth is set to continue during the next five years. “Growing consumer confidence in the United States, which will boost discretionary spending, will help the domestic tourism sector,” says Crompton. Additionally, the number of international tourists visiting the United States is expected to grow during the five years to 2015. In an increasingly saturated market, water park operators will try to bring in revenue year-round through indoor attractions and winter shows, decreasing the reliance on the peak summer period. IBISWorld expects industry revenue to grow during the five-year period.
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IBISWorld industry Report Key Topics
The Water Parks industry includes amusement parks that feature waterplay areas, such as waterslides, splash pads, spraygrounds (water playgrounds), lazy rivers or other recreational bathing, swimming and barefooting environments. These parks may be indoors, outdoors or a combination of both.
Industry Performance
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Industry Life Cycle
Products & Markets
Supply Chain
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Globalization & Trade
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Market Share Concentration
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Major Companies
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About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld Inc., http://www.ibisworld.com, +1 (310) 866-5042, [email protected]
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