Amusement Parks Industry - Regional Synopsis
North America Market Statistics
North America industry is likely to account for largest revenue share of 42% by 2037. The industry's expansion is largely driven by the huge presence of amusement parks and the increasing number of visitors. Over 140 million people visited the top 20 theme parks in North America in 2022. Additionally, it is predicted that more than 435 million individuals will visit theme parks and attractions in North America in 2025.
In the U.S. staycations have grown in popularity over the past year, which has increased the attendance at nearby fairs and amusement parks. People's time constraints have led to a rise in the popularity of unplanned leisure getaways in their cities, without any anxiety and trouble of traveling.
Over the last two decades, people in Canada have, on average, committed 5% of their yearly household budget to cultural and recreational pursuits, which has led to the expansion of theme parks. Moreover, Wonderland in Canada with over 200 attractions, including a 20-acre water park named Splash Works, play areas, and 18 coasters has gained significant acclaim as one of the world's best theme parks to visit in 2023.
APAC Market Analysis
The amusement parks market expansion in Asia Pacific has been experiencing robust growth, driven by increasing disposable incomes and urbanization. According to the World Bank, with an average yearly urbanization rate of 3%, East Asia and the Pacific are the regions that are urbanizing the fastest in the world. Subsequently, an increasing number of people are looking for leisure options near home, which is likely to create a huge demand for accessible, secure, and pleasurable public spaces including amusement parks. In addition, recent years have seen a rise in the popularity of theme parks led by the growing demand for family-friendly entertainment alternatives outside of homes.
China's amusement parks are hoping for rapid expansion in response to the growing demand for thrilling rides and interesting travel experiences. Theme Park visits are becoming a common urban leisure activity in China, as the country is home to some of the world's best theme parks, such as Shanghai Disneyland and Hengqin's Chimelong Ocean Kingdom.
Japan has several theme parks and amusement parks, which are popular with tourists of all ages due to their inventive rides, lodging possibilities, and retail selections. In December 2023, the sales of amusement parks and theme parks in Japan amounted to approximately USD 596.4 million.
The amusement parks market in South Korea is characterized by a mix of established and emerging key players, with significant opportunities for growth driven by economic developments, tourism, and evolving consumer preferences. Known for its family-oriented attractions and seasonal events, Seoul Land offers a variety of rides and theme areas, catering to all age groups.
