Theme Park Vacation Market Leading Companies, Forthcoming Developments, Economic
Posted by Ethan on April 19th, 2021
Theme park is as an outdoor attraction, which combines rides, shows, and other entertainment activities. Moreover, it is designed considering a group of themes or a central theme, and charges a pay-one-price admission fee to a visitor. According to the International Association Amusement Parks and Attractions, a theme park is a park which has themed attractions such as costumes, food, retail stores, or rides.
Consumers are shifting their spending pattern from durable goods to adventure and travel, which acts as a key driver of the global theme park vacation market. In addition, upsurge in popularity of theme parks among millennials and generation Z significantly boosts the growth of the global market. Furthermore, theme parks are witnessing continuous development to provide strong source of entrainment to their consumers. However, implementation of stringent government regulation toward building theme parks affects the growth of the global market.
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Presently, theme parks not only offer entertainment but also focus on providing edutainment to empower and educate children. If managed and developed precisely, theme parks that combine entertainment and education are expected to gain a competitive edge in the near future. For instance, Ocean Park Hong Kong is a combination of thrilling entertainment and educational encounter with animals, integrating thrilling water rapids rides along with educating visitors on the essence of conservation of diverse parts of the world. Moreover, it conducts and offers 31 workshops to visitors especially students and children to gain educational learning experience.
The theme park vacation market is segmented into type, age group, traveler type, sales channel, and region. By type, the market is categorized into water park, children’s play park, adventure park, and others. Depending on age group, it is classified into baby boomers, generation X, millennials, and generation Z.
On the basis of traveler type, it is bifurcated into solo and group. As per sales channel, it is segregated into online channel and direct channel. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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The key players operating in the theme park vacation market are Walt Disney Attraction, Merlin Entertainment Group, Universal Parks and Resorts, Oct Parks China, Fantawild, Chimelong Group, Six Flags Inc., Cedar Fair Entertainment Company, Seaworld Parks & Entertainment and Parques Reunidos, LOTTE World, Nagashima Spa Land, Everland Gyeonggi-Do, Ocean Park, Europe Park, De Eftling, and Tivoli Gardens.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
• By Age Group
• Traveler Type
• By Sales Channel
• By Region
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About the AuthorEthan
Joined: January 29th, 2020
Articles Posted: 207
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