A report looking at the future of the global amusement park market has predicted annual growth of more than 10 per cent through to 2021, driven by a shift in consumer preference from relaxing holidays to adventure sports and tourism.
Covering the market landscape and its growth prospects over the coming years, the
Global Amusement Park Market 2017-2021 report forecast compound annual growth rate (CAGR) of 10.16 per cent during the period 2017-2021.
According to the report by Research and Markets, with tourism revenues increasing, governments of many countries are coming to the realisation that theme parks play an important role in attracting tourists, with Dubai’s theme park boom evidence of this emerging trend.
Additionally, the report states that there is a shift in preference occurring, with individuals wanting relaxing holidays now turning instead to adventure sports and tourism.
“Adventure tourism is gaining high traction in the tourism industry because of the extraordinary experience it offers,” said the report. “However, this type of tourism involves high risks. Therefore, an individual requires sufficient training to participate in adventure sports.”
The report identifies Cedar Fair, Merlin Entertainments, SeaWorld Entertainment, Universal Parks & Resorts, and Walt Disney Parks and Resorts as key players in the global market, with other prominent vendors including Beto Carrero World, Chimelong Paradise, Efteling, Europa Park, Lotte World, Ocean Park, OCT Parks, Parque Mundo Aventura, Experiencias Xcaret Parque, Samsung C&T Resort Group, Six Flags Entertainment, and Tivoli Gardens.
“The target population in the age group of 0-14 is declining,” said an analyst commenting on the report. “Many theme parks are shifting their focus toward audience of other age groups to generate more revenue. Theme parks are creating more attractions and rides to target a larger audience. For instance, children under 15 are not allowed in certain rides in various theme parks.
"Theme parks are attracting adult audience by providing amusement rides such as roller coasters, river rapids rides, and sky coasters. This shift in the target audience will likely support the growth of the market during the forecast period.”
For the full report,
click here.
