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Fast-growing Indian theme park industry needs new investment

Fast-growing Indian theme park industry needs new investment
March 22, 2017

A new survey from the Federation of Indian Chambers of Commerce and Industry (FICCI) and consultants KPMG has revealed that India’s theme park industry grew 10.25% in 2016.

The report, Theme Parks: Get ready for the ride, advised that industry was worth Rs 2930 crore (US$434 million), up from Rs 2660 crore (US$394 million) in 2015 with an expectation that it will grow at 19.1% up to 2021 and be worth around Rs 6980 crore (US$1.03 billion).

However, with the country’s theme and amusement parks currently catering to a local audience, the report suggests that they will need major investment to attract a global audience.

According to Arun Chittilappily, Managing Director of Wonderla Holidays, infrastructure development initiatives are needed before the sector can attract audiences from further afield.

Chittilappily was quoted in the report as saying “the Indian theme park industry currently caters to the local population and would need infrastructure development initiatives to cater to the global audience, which shall require more investments in the sector.

“India is a price sensitive markets and ticket prices are going to remain low in the future, therefore to promote investments, government incentives shall be required in the form of tax holidays and subsidies.”

With the growth of India’s middle class, theme park industry is being driven by rising spending on leisure activities.

India’s major theme parks include Essel World in Mumbai, Nicco City in Kolkata and Ramoji Film City in Hyderabad.

Click here to view Theme Parks: Get ready for the ride.

Image: Nicco City amusement parks, Kolkata.

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16th May 2016 - COUNTERFEIT RIDE INVOLVED IN FATAL INCIDENT AT INDIAN THEME PARK

30th March 2016 - INDIA’S LARGEST WATERPARK A SIGNIFICANT OPENING IN AN EMERGING MARKET

5th June 2015 - ASIAN MARKET DRIVES EXPANDING GLOBAL THEME PARK ATTENDANCES

5th August 2014 - SANDERSON GROUP DESIGNS INDIAN THEME PARK 

1st May 2013 - NEW INDIAN THEME PARK TARGETS GROWING MIDDLE-CLASS

26th November 2011 - IAAPI LAUNCHES INDIAN AMUSEMENT EXPO 2012

4th December 2008 - INDIAN AMUSEMENT PARKS PREDICT 25% ANNUAL GROWTH


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Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

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