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China clamping down on unsustainable theme park boom
POSTED 12 Apr 2018 . BY Tom Anstey
As of the end of 2015, China had 59 parks planned or under construction, with the figure now thought to be in the hundreds
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
As of the end of 2015, China had 59 parks planned or under construction, with the figure now thought to be in the hundreds
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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China theme park boom driving Asian tourism, says Global Trends Report


China’s theme park boom has been identified as a major trend for Asia in this year’s edition of the Global Trends Report, with new developments and an emerging middle class driving tourism in the region.
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Visions of China theme park developers sign deal with Rotherham council


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UK-based creative companies launch 'Vigilante Group' to shake up experience sector
Six UK-based creative companies have teamed up to launch the Vigilante Group, described as a "rebellious team of creative companies" looking to "liberate the world from the fortress of the status quo".
Don't miss out on VAC 2020 - catch it on demand until 12 November
For those who missed this year’s VAC – the annual UK Conference for Visitor Attractions – there’s still the chance, until 12th November, to catch it on demand.
Tourism minister and former google travel exec, Nigel Huddleston, to deliver keynote speech at VAC 2020
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+ More videos  

CATALOGUE GALLERY
+ More catalogues  
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+ More directory  
DIARY

 

03-06 Nov 2020

Piscina & Wellness Forum

Online,
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+ More diary  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2020

ABOUT LEISURE MEDIA
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