By AAA/G&A Committee
Recently an elaborate report on China’s theme park market in 2016 has been released by CBG (Chinabaogao.com). This report have given us a thorough account of China’s current theme park market, as well as showed us its promising prospect. From this report, we have extracted some useful information and it will be as follows.
Chinese’ Strong Willingness to Visit Theme Parks
According to the report, in 2015 Chinese residents on average traveled 3 times a year. Compared with 7.6 times per year per person in the US, China’s tourism market has the potentials to grow 10 times as big as now. It is estimated that by 2020 and by 2025, annual domestic tourists can respectively reach 6.215 billion and 8.279 billion person-times.
In 2015, Chinese residents have already shown a strong willingness to visit theme parks. It is reported that in 2015 among the world’s top 10 most visited theme parks, 4 were located in China. CBG estimates that the annual person-times of visitors that China’s theme parks will receive will continue to grow to 271 millions by 2020 and to 369 million by 2025. This increase of demand is said to be a result of the following reasons.
Firstly, according to incomplete statistics, 59.8% Chinese tourists plan to visit theme parks at least once a year. Secondly, by the time of 2020 when the post-90s generation has formed their own family with a steady income, new market need will be generated. Moreover, with the increase of private vehicles and improvement of public transportation, convenient traffic will greatly heighten people’s willingness to travel. And most importantly, Chinese residents’ increasing disposable income links directly to the increase of theme park market demand.
Chinese Theme Parks Trends:High Quality & Huge Market
Though in the last 2 decades, China has seen the erection of at least 2500 theme parks, nearly 90% of them are of small investment, low quality and similar to each other, which has led to sever market competition and deficit.
However, as the theme park market and industry are reaching their maturity, Chinese theme parks will eventually improve in professionalism and quality. Accordingly, the scales and initial investments of new theme parks will be generally bigger than the old ones for investors and developers will put more emphasis on equipment quality and theme park design.
It has been estimated that 64 new theme park projects with a total investment of 23.8 billion USD will be launched during 2015-2020. In the meanwhile, unprofitable theme parks will exit the market, and eventually 5 theme park giants will monopolize China’s theme park business.
This promising prospect for China’s theme park market has held numerous worldwide insiders like a spell. If you are also considering entering Chinese market, here are 3 of the leading relevant trade shows in China which have won the universal acclaims from their attendees.
2017 Wuhan International Game and Amusement Fair (GAF 2017)
Date: May 12th-14th, 2017
Venue: Wuhan International Expo Center
China (Zhongshan) International Game & Amusement Fair 2017 (G&A 2017)
Date: August 11th-13th, 2017
Main Venue: Zhongshan Convention Center
Sub-venue: Guazngdong Game and Amusement Culture Industry City
Digital Invitation: book.yunzhan365.com/pxfr/tajo/mobile/index.html
Post-show Report of G&A 2016:
2018 Asia Amusement & Attraction Expo (AAA 2018)
Date: April 3rd-5th, 2018
Venue: China Import & Export Fair Complex
Post-show Report of AAA 2017:http://www.aaaexpos.com/article/show_article.php?id=409
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