Finance News

Theme parks ride high as business soars

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.”

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