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China clamping down on unsustainable theme park boom
POSTED 12 Apr 2018 . BY Tom Anstey
China’s central planning body has warned developers about the country’s ongoing theme park boom, raising concerns over potentially unpayable debts and low grade or copycat developments, as new parks continue to spring up across the country.

As of the end of 2015, China had 59 parks planned or under construction, with the figure now thought to be in the hundreds. This explosion in theme park development in the country is due in part to the Chinese government lifting a ban on theme park approvals in 2013, enabling parks under CN¥5bn (US$800m, €717m, £633m) to be approved at a provincial level, encouraging further investors.

According to the National Development and Reform Commission (NDRC) – which has broad administrative and planning control over the Chinese economy – theme park developers should strengthen supervision to “prevent the formation of local debt risks, social risks and financial risks.”

“In the development of theme parks we’ve seen unclear concepts, blind construction, imitations and plagiarism, low-standard duplication and other issues,” said an NDRC statement, which also added that in certain areas “local debt risks” were starting to emerge.

For future plans, the NDRC says that entertainment firms should involve the government more planning such developments, with particular care placed on developments worth more than CN¥1.5bn (US$237m, €191.8m, £166.8m).

Attractions sales in China grew significantly last year, increasing 27 per cent to CN¥39.5bn (€5.1bn, £4.4bn), with Mintel data predicting the market to more than double in size to CN¥89.2bn (US$14.2bn, €11.5bn, £10bn) by 2022.

In June last year, China’s government removed restrictions on foreign investment in large-scale theme park projects as part of a pledge to open the country’s economy – the second largest in the world – to wider foreign investment.

Major developments in the country include those from the likes of Disney, Universal, Wanda and now Sunac. The NDRC says that new property developments around theme parks, including commercial and residential properties, will be closer scrutinised and must gain separate approval.

As its theme park sector continues to thrive, China predicts spending at its parks to reach nearly US$12bn (€10.7bn, £9.5bn) by 2020, with visitor numbers surpassing 330 million people. As Chinese disposable income rises, attractions are reaping the rewards, with tourism numbers increasing as more leisure opportunities become available to tourists.
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Jobs . News . Products . Magazine
NEWS
China clamping down on unsustainable theme park boom
POSTED 12 Apr 2018 . BY Tom Anstey
China’s central planning body has warned developers about the country’s ongoing theme park boom, raising concerns over potentially unpayable debts and low grade or copycat developments, as new parks continue to spring up across the country.

As of the end of 2015, China had 59 parks planned or under construction, with the figure now thought to be in the hundreds. This explosion in theme park development in the country is due in part to the Chinese government lifting a ban on theme park approvals in 2013, enabling parks under CN¥5bn (US$800m, €717m, £633m) to be approved at a provincial level, encouraging further investors.

According to the National Development and Reform Commission (NDRC) – which has broad administrative and planning control over the Chinese economy – theme park developers should strengthen supervision to “prevent the formation of local debt risks, social risks and financial risks.”

“In the development of theme parks we’ve seen unclear concepts, blind construction, imitations and plagiarism, low-standard duplication and other issues,” said an NDRC statement, which also added that in certain areas “local debt risks” were starting to emerge.

For future plans, the NDRC says that entertainment firms should involve the government more planning such developments, with particular care placed on developments worth more than CN¥1.5bn (US$237m, €191.8m, £166.8m).

Attractions sales in China grew significantly last year, increasing 27 per cent to CN¥39.5bn (€5.1bn, £4.4bn), with Mintel data predicting the market to more than double in size to CN¥89.2bn (US$14.2bn, €11.5bn, £10bn) by 2022.

In June last year, China’s government removed restrictions on foreign investment in large-scale theme park projects as part of a pledge to open the country’s economy – the second largest in the world – to wider foreign investment.

Major developments in the country include those from the likes of Disney, Universal, Wanda and now Sunac. The NDRC says that new property developments around theme parks, including commercial and residential properties, will be closer scrutinised and must gain separate approval.

As its theme park sector continues to thrive, China predicts spending at its parks to reach nearly US$12bn (€10.7bn, £9.5bn) by 2020, with visitor numbers surpassing 330 million people. As Chinese disposable income rises, attractions are reaping the rewards, with tourism numbers increasing as more leisure opportunities become available to tourists.
MORE NEWS
Video: Attractions Management News Flash 20 April 2018
The latest Attractions Management News Flash Video is now live! In this broadcast, we look at Disney chief Bob Iger's Presidential ambitions, Universal Studios' Orlando rumoured expansion, U2's 'The Claw' coming to a Salt Lake Aquarium and National Geographic's move into the Saudi Arabian attractions market.
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Mechtild Rössler, director of Unesco's World Heritage Centre, has said the youth population must be prepared to protect the world's heritage for future generations.
Airbnb opens 'Office of Healthy Tourism' in effort to boost local communities
Airbnb has launched a new initiative, designed to help travellers find new holiday destinations and counteract the tourism saturation of major cities worldwide.
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LATEST JOBS
Food and Beverage Manager
NAMCO UK Ltd
Salary: Circa £23,000
Job location: Manchester, UK
Senior Bowling Technician
NAMCO UK Ltd
Salary: Competitive Salary & Benefits
Job location: Manchester, UK
Performance Assistant Team Leader
Hamburg Dungeon
Salary: Competitive Salary & Benefits
Job location: Hamburg, Germany
Retail, Admissions & Membership Manager
The Wildfowl and Wetlands Trust
Salary: £33,065
Job location: London, UK
Visitor Experience Manager
The Wildfowl and Wetlands Trust
Salary: £35,780 per annum
Job location: Lancashire, UK
Technical Lead
Merlin Entertainments Group
Salary: Competitive
Job location: Chessington, UK
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ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
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