Theme parks ride high as busi­ness soars

Shanghai Daily - - BUSINESS - Wang Yan­lin EN­TER­TAIN­MENT

CHINA’S theme park mar­ket of­fers great po­ten­tial for growth, ac­cord­ing to a study re­leased yes­ter­day.

“In re­cent years, there has been sub­stan­tial in­vest­ment by Chi­nese theme park own­ers and op­er­a­tors,” said Chris Yoshii, vice pres­i­dent for eco­nom­ics and global di­rec­tor of leisure and cul­ture ser­vices for Asia with AECOM, the only in­fra­struc­ture firm at the expo.

“But our re­search shows that the po­ten­tial of the mar­ket is yet to be ex­plored.

“While the to­tal at­ten­dance at China’s theme parks grew to 190 mil­lion vis­its in 2017, which was a 20 per­cent year-on-year growth, it is still a markedly lower per capita at­ten­dance com­pared with other de­vel­oped economies.

“These find­ings demon­strate a sig­nif­i­cant op­por­tu­nity for fu­ture growth in the Chi­nese mar­ket.”

AECOM’s China Theme Park Pipe­line Re­port said the fu­ture for theme parks in China ap­pears ro­bust. At least 70 new parks are un­der con­struc­tion or in a de­tailed plan­ning stage.

“We an­tic­i­pate that by 2020, China will have sur­passed the United States in terms of to­tal theme park at­ten­dance,” said Yoshii.

“We found that parks with a clear and dis­tinc­tive theme, such as those tied to in­ter­na­tional in­tel­lec­tual prop­erty brands, stand a higher chance of busi­ness suc­cess than in­de­pen­dent parks. Over­all, trends for China’s theme park in­dus­try are strong and of­fer myr­iad op­por­tu­ni­ties.”

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.