Amusement Park Market Has Potential to Grow
According to UK-based market research reports company Technavio, the global amusement and theme park market will grow by US$19.84 billion by 2024, progressing at a compound annual growth rate of almost 7% during this time. The company suggests that increasing investments in international tourism will offer immense growth opportunities for leading international companies in the sector, including Comcast Corp., SeaWorld Entertainment Inc., Six Flags Entertainment Corp, Walt Disney Co. and more.
This prediction is in contrast to the most recent TEA/AECOM Theme Index and Museum Index, which found that 2019 was a year of moderate performance for the world’s leading theme and water parks, and a variable year for museums. “As a whole, 2019 was a rather mild-mannered year in the industry,” commented AECOM Senior Vice President – Economics John Robinett. “This could indicate that some pre-recessionary pressures were building under the surface before the tectonic COVID-19 shifted the foundation of the world’s health and economies.” (Australian Leisure Management, 03.22.21)
While 2020 was a devastating year for the attractions industry, global amusement park market is expected to grow within the next couple of years. Thinking of how an expansion or new product could boost your business? Don’t start without the data to back up your ideas. Schedule a free consultation today.
Want market insights in your inbox?
Sign up below to receive H2R's free monthly e-mails summarizing the latest trends.
We respect your privacy.