Wednesday 12 December 2018

Global theme park market seen topping $44bn

DUBAI, June 15, 2017

The global market for amusement and theme parks is forecast to reach $44.3 billion by 2020, said the organisers of the upcoming DEAL 2018 fair in Dubai, UAE, citing a Global Industry Analysts, Inc. Report.

The market is being driven by the recovery in leisure spending, rise in international tourism, and growth of the middle class population in emerging countries, the report said.

UAE’s total amusement and entertainment market potential to reach 45 million visitors by 2021 as forecasted by PwC.

“Indoor theme parks allow the operations to take place 365 days of the year irrespective of the weather conditions,” said Abdul Rahman Falaknaz, chairman of International Expo Consults (IEC), organisers of DEAL 2018 (Dubai Entertainment, Amusement and Leisure expo).

“They tone down the seasonality aspect which helps to achieve a peak output at maximum levels through-out the year. Outdoor parks have the disadvantage that they cannot control – the climate. Theme parks in other parts of the world don’t have this issue but if one focuses on outdoor theme park in this region, they tend to be positioned in locales that cannot survive the regional climatic conditions. This is one of the major reasons that indoor parks have the extra benefit in this region.”

GCC is bracing itself for a surge in tourism as new projects and developments are being planned and in the execution phase to usher in more tourists than ever before. One of the examples includes Dubai’s much talked about theme park – IMG Worlds of Adventure. IMG Worlds of Adventure and Dubai Parks and Resorts, which opened last year in Dubai has plans to draw in millions of visitors in their first year of operations.

Sharif Rahman, CEO, IEC said: “Several billion-dollar theme parks were launched in 2016 and a series of amusement destinations are slated to open doors for the theme park enthusiasts by 2018. Furthermore, there is an exponential growth experienced by indoor theme parks and FECs in the region due to the expansion plans of large malls in the Mena region.

“The region attracts visitors across the globe as it is promising destination with new innovations and developments related to theme parks and FECs being promoted on a grand scale. Riding on its success from the previous years, the DEAL show will continue to be one of the most effective ‘launch-pads’ in the Middle East for all stakeholders within the amusement and related industries.”

“Looking at GCC and especially Dubai, the opportunity is clear with a plethora of attractions set to open in the coming period. UAE has the best of both worlds, be it indoor or outdoor theme parks. The country is experiencing this exponential growth because of its quality infrastructure and growing tourism and retail industry sectors. Customers do visit the indoor theme parks more frequently as compared to the outdoor parks in this part of the region as the climate plays a deciding factor,” added Rahman.

“Several mega projects in the GCC region are in various phases of implementation and executions as various destinations are being aptly poised as leisure and entertainment destinations ahead of global mega events, particularly the World Expo 2020 in the UAE. DEAL 2018 would clearly redefine the landscape of the amusement industry in the GCC region as it is the fulcrum for global stakeholders to launch and revamp the amusement industry,” concluded Rahman.

Foraying into the 24thedition, DEAL 2018 expects to witness an even larger gathering of key players and visitors in the amusement industry from Middle East, Africa, US, Mediterranean and Asian countries.

DEAL 2018 is scheduled to be held from April 8 to 10 at the World Trade Centre, Dubai, United Arab Emirates.  – TradeArabia News Service

Tags: theme park | Leisure | IEC |

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