The annual Attractions Attendance Report has shown that theme parks are coping well with the economic downturn.
The report for 2008, compiled jointly by Economic Research Associates (ERA) and the Themed Entertainment Association (TEA), shows that 10 out of the world's top 15 theme parks recorded an increase in the number of visits – when compared to 2007 figures.
According to John Robinett, senior vice president at ERA, however, the growth in numbers could have been even bigger, but for a fall in attendances during the fourth quarter.
He also revealed that large destination parks were hit harder by the late fall in visitor numbers than smaller, regional parks.
"It should be noted that the negative growth didn't actually occur until the autumn,"he said.
"The regional pars were mostly closed by then while year-round destination parks were still open, so they took the fourth-quarter hit."
"It is typical of destination parks to be impacted more by a recession than regional parks, because they are located farther away form their markets, and cost more to visit."
The report also draws a parallel between reinvestment and attendances.
Robinett said: "Our models suggest that reinvestment probably has a stronger correlation with attendance than does the economy.
"When parks reinvest in a major new ride or show or zone, the increase in attendance tends to be in the high single digits, whereas as recession impacts in the low single digits."
Robinett added that recovery was the reward for reinvestment, as parks tend to bounce back rather quickly from a recession.
The report also revealed that while the downward turn in attendances experienced in late 2008 at US and European parks is expected to continue during 2009, operators in the Asian market can expect growth in numbers.
Edward Shaw, senior associate at ERA, said: "Overall, the numbers and the economy are pointing to lower attendance in 2009.
"The decline looks as though it will last the majority of 2009 with some possibility of recovery by the end of the year, or early 2010."
Shaw added that the Asian market was a "bright spot" with growing economies, an expanding middle class and an offer which was very far from saturated.
According to the report, the Magic Kingdom at Walt Disney World in Florida, US, retained its position as the most visited park in the world, with more than 17 million guests during 2008, followed by the Disneyland resort in California.
The Disney group is the largest operator in the world by some distance, with 118 million people visiting its parks during 2008. UK-based Merlin Entertainments retained its position as the world's second largest operator with 35.2 million visitors, followed by Universal Studios (25.7 million), Six Flags (25.3 million), Parques Reunidos (24.9 million) and Busch Entertainment (23 million).
For the full report, visit www.econres.com.
