Asian Attractions Expo - 2008

Amusement and Theme Park Industry Poised for Worldwide Growth

Alexandria, Va. (USA) - As thousands of professionals from the $23 billion global attractions industry gather at Asian Attractions Expo – 2008, worldwide growth and revenues for theme and amusement parks will be a point of discussion among attendees.

            According to statistics compiled by PricewaterhouseCoopers (PwC) in the report titled Global Entertainment and Media Outlook: 2007-2011 – Theme Parks and Amusement Parks, theme park spending worldwide is expected to grow at a 4.6 percent compound annual rate during the 2007 to 2011 period, from $22.8 billion in 2006 to $28.5 billion in 2011. And according to the most recent TEA/ERA Theme Park Attendance Report, compiled by Economics Research Associates and TEA (formerly Themed Entertainment Association), numbers point to moderate growth and stability, with a worldwide attendance increase of 2.2 percent for 2007-2008.

While the United States remains the largest market, according to the PwC report, Asia will be the fastest-growing region with 5.5 percent compounded annually (reaching $8.1 billion by 2011).

            Growth is also anticipated for Europe and the Middle East, with less aggressive growth projected for Latin America.

Asia Outlook: Massive Growth

Asia is the strongest region for amusement industry growth, with many major attraction projects currently under construction. For instance, South Korea will soon welcome the Paramount/Daewoo park and a new MGM attraction, while Universal Studios will open in Singapore in 2010.

Japan is the region’s largest market with $3.6 billion in revenues, which are expected to grow 4.5 percent to $4.5 billion by 2011.

China, the second-largest market, is an area of particular growth, spurred by a rapidly expanding middle class, according to TEA/ERA. New parks in China will drive revenue beyond $1.9 billion by 2011, says PwC. New parks are under development near Shanghai, Shenzhen, Zhouzhuang, Wuhu, and Guangzhou.

Singapore, South Korea and Hong Kong each have multiple major destination parks in operation and/or in development.

New Parks and Attractions Opening in Asia in 2008 and 2009

Chimelong Paradise in Guangzhou, China will add the world's longest inverted rollercoaster. The, 200-million-Yuan ($27 million USD) rollercoaster is one of the world's most expensive and the first of its kind introduced to China's mainland. The yet-to-be named coaster offers riders a vertical drop of 80-meters, the same height as a 30-story building. www.chimelongparadise.com

FantaWild Adventure Theme Park opened in Wuhu, Anhui, China in October 2007 as the largest hi-tech theme park in China and was jointly designed and constructed by Fantatech Inc. and Hytechnology Inc. The park is part of the larger multi-billion dollar project, Wuhu Huaqiang Tour City, which includes a city walk and hotel. FantaWild prides itself on integrating China’s historical culture with modern digital technology. Inside the attraction is FunPlex, an indoor recreation center with shopping, virtual games, and 3-D movies. www.fantawild.com and www.fangte.com

Hong Kong Disneyland debuts an “It’s A Small World” boat ride complete with the usual Disney favorites as well as an expanded look at the Hong Kong culture and skyline. www.hongkongdisneyland.com

Overseas Chinese Town, a new park being constructed in Sheshan, China will add the country’s first wooden coaster. The currently unnamed coaster will stand 108.25 feet tall with a first drop of 103-feet. It will feature 3,819-feet of twisted track and reach a top speed of 56. www.visitshenzhenchina.com/8.html#oct

“The Singapore Flyer,” the world’s largest Ferris wheel, opens in March and allows passengers to see Singapore, Malaysia, and Indonesia from 541-feet high. “The Flyer” is higher than the previous record-holder, the “London Eye.” The wheel has 28 bus-sized capsules reaching 492 feet in diameter. Twenty-eight people can ride in each capsule for a 30- minute ride. The ride is part of Singapore’s tourism-building goal to attract 17 million visitors each year by 2015.www.singaporeflyer.com.sg

Tokyo Disney Resort (Japan) will welcome the first non-North American permanent theater for Canada’s famed entertainment extravaganza, Cirque du Soleil. The project, currently under construction, is managed by Oriental Land Company. www.tokyodisneyresort.co.jp and www.cirquedusoleil.com

Outside of Shanghai in the neighboring city of Zhouzhuang, a $40 million park will open to celebrate the theme “5,000 Years of Chinese Culture.”

More information about Asian Attractions 2008 expo is available at http://www.iaapa.org/expos/asian/index.asp

About IAAPA

IAAPA is the premier trade association for the attractions industry worldwide.  Founded almost 90 years ago, IAAPA is the largest international trade association for permanently situated amusement facilities and attractions and is dedicated to the preservation and prosperity of the amusement industry. IAAPA represents more than 4,100 facility, supplier, and individual members from more than 90 countries. Member facilities include amusement/theme parks, waterparks, attractions, family entertainment centers, arcades, zoos, aquariums, museums, science centers, resorts, and casinos.  IAAPA is a nonprofit organization.  Funds generated for the association by its involvement in trade shows and other activities are returned to the association to fund services for its members and the industry. IAAPA maintains offices in Europe and the United States. In addition, the association’s Global Alliance partnership program includes international liaisons representing Latin America; Southeast Asia; Australia and New Zealand; India; and People’s Republic of China.

Contact information:

IAAPA Press Office: 703-299-5127
David Mandt: dmandt@iaapa.org

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