Park Analysis
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WATERPARK POTENTIAL An analysis I did a few years ago indicated a total market penetration for visits to waterparks in the USA of around 22%. Yas Waterworld Aqua Park will take the projected figure for the UAE close to 17%. If we put aside cultural differences, this suggests that there’s room in the market for it. However, a standalone waterpark that is not part of an established, popular resort has to work very hard to succeed. In this context, I’d say that at the moment there are more factors working against a waterpark at Yas Island than for it.
It will be interesting to see what unique ideas the waterpark is bringing to grow the market rather than just cannibalise it. If it’s just more of the same why would anyone from Dubai drive past Wild Wadi or Aquaventure to visit Yas Island?
UAE POTENTIAL
The fundamental opportunity for the UAE to create a regional tourism hub hasn’t changed. Of the order of 300-400 million people live within a three hour flight time of Abu Dhabi and Dubai. Tourism within
the region is strong and the market still has a lot of growth potential. Look at how Singapore has had to keep pushing itself over the last 40 years to get where it is now. Disney is just celebrating 40 years in Florida. These things take time, patience and persistence. Strategically, I would say that the job of Ferrari
World was to be part of a critical mass of entertainment aimed at making the UAE the “Florida of the Middle East” not lead the strategy. Unfortunately, none of the other parks have yet been built and Ferrari World has still to live up to its potential. Yas Island has got to up its game, and Dubailand must also find a way to move forward, by developing Universal Studios and Legoland for example. The UAE has chosen to develop tourism as part of its long-term development strategy. For a number of reasons the timetable has had to be adjusted, but for all of us involved in the leisure industry we want them to succeed.
ENCOURAGING SIGNS Ferrari World has significantly increased its marketing presence lately, in Dubai at least, so the project is a lot more visible and front-of-mind than when it first opened. Having made such a level of investment it’s better all round if it starts to pull its weight. What the park does do is act as a reminder, if we all needed one, of the real challenges and risks involved in trying to create prototype, world-class attractions.
Formula Rossa: the world’s fastest rollercoaster The Official Word
Glenn Davidson, general manager for Farah Leisure Parks, offers an official response on behalf of Ferrari World
Ferrari World Abu Dhabi (FWAD) has had a successful first year of operation with hundreds of thousands of guests, in particular families and local residents,
enjoying the unique rides at attractions. With more than 20 rides and attractions, FWAD is a great day out for every member of the family and is already proving a very entertaining day out in the UAE.
As with all theme parks, we continue to grow and improve as we learn each day about the guests’ needs and requirements inside this amazing space. Alongside our stakeholders across Abu Dhabi and particularly Yas Island, Ferrari World Abu Dhabi is becoming an integral 'must visit' attraction. Formula Rossa, the world's fastest rollercoaster, has already become one of the most talked about rides in the global theme park industry and guests are coming from far and wide to experience the thrill of reaching 240kmh in
FEBRUARY 2012
Phil Taylor is managing director of Team Leisure, which provides consulting, project management and operational services to worldwide developers and owners of leisure businesses and visitor attractions. Based in Dubai, the company works with government and private clients throughout the Middle East and beyond
team-leisure.com
under five seconds, as well as immersing themselves in the Ferrari story of passion, history and technical innovation. With the development of Yas Waterworld Aqua Park just next door to FWAD, due for completion in the fourth quarter of 2012, and the on-going work to complete the Yas Mall, Ferrari World Abu Dhabi is ideally placed to become a market leader and drive increased visitors as Yas Island continues to grow as an exciting leisure destination. We look forward to many more buoyant years as we expand and grow.
“
Tourism
within the UAE region is strong and the market still has a lot of potential. Look at how Singapore has had to keep pushing itself to get where it is now. Disney is just celebrating 40 years in Florida. These things take time, patience and
persistence ” Yas Waterworld Aqua Park: opening later this year The spacious interior of Ferrari World 31
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