The amusement and theme parks industry has grown exponentially over the years with millions of people visiting the Asia Pacific region, particularly Southeast Asia, every year.
A research conducted by the Themed Entertainment Association (TEA), an international, non-profit membership association focused on the themed entertainment industry, indicated that there has been a steady growth and competitive market in the Asia Pacific region for the past few years. In 2017, attendance at the top amusement & theme parks in the Asia Pacific region grew at an average of 5.5% – and Southeast Asia is a significant contributor of this growth. In fact, according to research by TEA, Universal Studios Singapore alone remains one of the biggest crowd drawers in 2017 with about 4.22 million visitors, up from 4.1 million visitors in 2016.
What are the reasons behind Southeast Asia’s astonishing growth? How competitive are the amusement & theme parks in Southeast Asia? What are the trends and opportunities for solutions providers in this region?
The top global IP brands like Walt Disney, Marvel, Universal Studios, Legoland and Cartoon Network have found a profound presence in Asian countries. The global brands are switching towards Asian countries due to the high population and connectivity. This is why TEA, the Themed Entertainment Association, estimates that by 2020 Asia will become the world’s largest theme park market.
As per TEA’s Annual Report 2017, Universal Studios Singapore ranks in the Top 25 countries in the world with the highest number of amusement/theme parks visitors. Also, eleven out of the top twenty-five countries are all Asian.
Asian countries focus on the importance of singular experience investments. They have a clear goal of attracting the right audience to their theme parks. For instance, Funworld Prima, a Jakarta-based amusement park, focuses on the development of family entertainment centers with shopping centers and indoor entertainment, to reduce the focus of outdoor entertainment facilities.
This has given these theme parks an opportunity to test new waters and divert the focus of their attendees to other entertainment facilities. These theme parks have various inbuilt facilities, like shopping malls family- oriented games, and learning centers to persuade parents to bring their children to amusement parks.
View the full report below.