Sunday, April 21, 2024

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

San Jose, CA (Vocus/PRWEB) — The research report titled “Theme Parks: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., (GIA) is said to provide 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. 

According to the 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.
The United States represents the largest regional market for theme parks worldwide, as stated by the report. 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.
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.

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Judith Rubin
Judith Rubin
Judith Rubin ([email protected]) is a leading journalist, content marketing specialist and connector in the international attractions industry. She reports on design and technical design, production and project management, industry trends and company culture. From 2005-2020 she ran communications and publications for the Themed Entertainment Association (TEA). In 2013, she was honored with the TEA Service Award. She was development director of IMERSA and publicist for the Large Format Cinema Association, and has contributed to the publications of PLASA, IAAPA and the International Planetarium Society. Judith joined World’s Fair magazine in 1987, which introduced her to the attractions industry. She joined InPark in 2010. Judith earned a BFA from Pratt Institute. She has lived in Detroit, New York, Oakland, and now Saint Louis, where she is active in the local arts community.

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