More than 50 theme parks under development in China
With global attention focused on the development of the US$5.5 billion Shanghai Disneyland, the massive new them park is just one out of nearly 60 new theme parks set to open in China within the next five years.
Shanghai will see two more amusement resorts by 2018: Dreamworks’ US$2.4 billion entertainment precinct and a US$900 million winter wonderland with the world’s longest ski trail while Beijing will have a US$3.3 billion Universal Studios by 2019.
With Asia driving global theme park attendance growth, with the latest TEA/AECOM Theme Index showing that attendance at the top 20 theme parks in the Asia increased nearly 5% in 2014, China is on a theme-park building frenzy to develop new areas of growth as its economy slows.
Huamei Consulting Senior Economist Zhao Huanyan told Channel News Asia “you can’t invest in rail, road and airport anymore. You can’t invest in real estate. Any more investment there will result in more serious consequences. So the government turns to tourism investment.”
And many of these new parks are attracting strong crowd numbers.
The US$1 million Hello Kitty Land in Hangzhou attracted about 10,000 people on its opening day in July, while 12,000 visited Dalian Wanda’s Wanda Movie Park in Wuhan when it opened last year, with the developer planning at least ten more resorts worth US$50 billion.
However, Zhao warns that 60% of these new attractions will fail, explaining “theme parks in China rely too much on ticket sales.
“Some local government officials use the investment to leave a name for themselves during their term of office, without due consideration.”
To make sure visitors come, developer Wanda acquired dozens of tour operators last year to capitalise on upstream demand for integrated resorts that combine shopping, hospitality and entertainment.
Shanghai Disneyland is set to open early next year.
Image shows Shanghai Disneyland.
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5th June 2015 - ASIAN MARKET DRIVES EXPANDING GLOBAL THEME PARK ATTENDANCES
18th March 2014 - CHINA ON THE EDGE OF LEISURE BUILDING EXPLOSION
8th July 2013 - AECOM STRENGTHENS ITS POSITION IN ASIA’S LEISURE INDUSTRY
9th August 2012 - DREAMWORKS TO BUILD US$3 BILLION ENTERTAINMENT ZONE IN SHANGHAI
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