China theme park boom driving Asian tourism, says Global Trends Report
by Tom Anstey | 08 Nov 2016
Disneyland Shanghai is the most prominent theme park to open in China this year
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.
As its theme park sector continues to thrive, China predicts spending at its parks to reach nearly US$12bn by 2020, with visitor numbers surpassing 330 million people. As Chinese disposable income rises, leisure attractions are reaping the rewards, with tourism numbers increasing as more leisure opportunities become available to tourists.
As of the end of 2015, China has 59 parks planned or under construction. This explosion in theme park development in the country is due in part to the Chinese government lifting a ban on theme park approval in 2013, enabling parks under US$800m to be approved at a provincial level, encouraging investors.
“Local theme parks are a little different from the international giants,” said Wouter Geerts, lead editor of the Global Trends Report and a Travel Analyst for Euromonitor. “Most importantly they operate a mixed tourism and property business model, with revenues from hotels, shops and apartments often more profitable than ticket sales into the park itself.
“This mix of shopping and theme park is a hugely attractive combination for a wide range of nationalities and ages.”
Future plans for parks include developments from giants such as Universal Studios, Six Flags, Ferrari and Fox, with all four operators planning multi-billion dollar developments in the country.
While Wanda is currently working on Wanda City plan as it aims to take over from Disney as top dog in China, its chair Wang Jianlin has cast his eye further afield, with plans for developments worldwide, notably the US$3bn Europa City just outside of Paris, France, and the Wanda development on Australia’s Gold Coast, rumoured to be a Jurassic Park attraction. A further two overseas ventures are planned by Wanda but those are yet to be confirmed in terms of location.
China theme parks theme parks IAAPA Wanda China Global Trends Report WTM18 Oct 2016
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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. As its theme park sector continues to thrive, China predicts spending at its parks to reach nearly US$12bn by 2020, with visitor numbers surpassing 330 million people. As Chinese disposable income rises, leisure attractions are
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