Theme Parks In China A Market Analysis
Our market analysis in china is conducted with the goal of understanding the opportunities and risks presented by an existing market or a consumer segment in different regions.
Theme parks in china a market analysis. China s theme park market is set to become the world s largest by 2020 thanks to the country s growing middle class as local and international players battle it out for dominance analysts say. Theme park tourism market. With the increasing spending on entertainment theme parks are getting more mentions from chinese consumers when they plan to go out.
China s theme parks usually offer a mixture of western and local culture exciting rides theater or circus performances and hotel resorts. Amusement and theme parks market was valued at usd 42 billion in 2018 and is projected to reach usd 85 billion by 2026 growing at a cagr of 6 12 from 2019 to 2026. Theme park tourism market.
According to the data analysis of iimedia research the market size including tickets catering accommodation etc of the chinese amusement parks market in 2019 surpassed 300 billion rmb. As an opportunity for theme park tourism the tourism industry is booming as a fastest growing industry and many new theme parks are being set up in regions including the middle east europe and asia which offer good leisure options and excellent prospects for visitors. In 2016 out of the twenty largest and most popular amusement parks in the world 4 are located in china including hong kong.
New innovative rides enriching experiences accommodation facilities and merchandise in amusement parks are gaining popularity among tourists of all age groups. In 2016 domestic market size of theme park exceeded cny 40 billion. New mintel research reveals that the chinese theme park market is estimated to reach value sales of rmb 39 545 million in 2017 growing 27 from 2016.
Increasing demand for amusement parks has been replicating in the form of new park establishment in european countries will boost the europe amusement parks market. Four chinese operators are among the top 10 theme park operators globally overseas chinese town chimelong group. Rides segment analysis the mechanical rides segment held the largest share in the amusement parks market size as of 2018.
Daxue consulting s experienced team delivers up to date and custom tailored deliverables. Amusement and theme parks market size and forecast. Year 2020 is projected to reach a revised size of us 67 7 billion by 2027 growing at a cagr of 4 7 over the analysis period 2020 2027.
China is now home to some of the top performing theme parks in the world including chimelong ocean kingdom in hengqin and shanghai disneyland and will be home to the newest universal theme park in beijing.
