Market Analysis
www.parkworld-online.com
House of Dancing Water at City of Dreams, Macau
So what is the general outlook for themed entertainment in Asia? Fundamentally, the growing middle class and their aspirations for travel and experiencing new things will drive a large demand for leisure and cultural attractions. Currently we estimate some 600 million Chinese are able to afford a visit to a modestly priced themed attraction. Most are living in cities (in 2010, for the first time 50% of the Chinese population was classified as urban). In the future, middle class growth will be in the smaller towns and countryside. Assuming income growth continues, as early as 2020 the number of Chinese middle class could reach over a billion – or three times the size of the US middle class population. Similar massive growth in middle class populations is emerging in India, Indonesia, Vietnam and the Philippines. Countries/regions that have already achieved high standards of living such as Singapore, Malaysia, Taiwan, Thailand, Hong Kong, Macau and Korea are benefiting from massive influxes of high spending tourism from China and other Asian countries.
Theme park groups in China
•OCT Group (Overseas Chinese Town). Largest operator with nine parks generating over 20 million attendance, including Happy Valley, Splendid China, Window of The World, OCT East and OCT Bay .
•Fantawild Adventure (Shenzhen Huaqiang Group). Five parks and several more proposed in smaller tourism markets.
•Haitchang Group (Polar Ocean World). Eight projects open or planned including large retail and dining areas.
•Dalian Sun Asia. Several parks and attractions in northeastern China including the country’s first dedicated polar aquarium.
•Chimelong Group. Four parks in Guangzhou including Chimelong Paradise, Chimelong Water Park, Safari Park and Crocodile Park, plus new Chimelong International Ocean Resort opening soon in Zhuhai.
•Songcheng Hangzhou. Expanding in Yangtze Delta.
•Walt Disney Parks & Resorts. Hong Kong Disneyland operated in partnership with Hong Kong Government. Shanghai Disneyland expected to open 2015/2016 in partnership with Shanghai Shendi Group.
Space Fantasy The Ride (by Mack) at Universal Studios Japan 42 Waiting for Disney
AECOM is currently tracking nearly 30 new theme park projects in China alone, representing some US$17 billion in capital investment. Shanghai Disneyland is the single largest project and remains on track for a 2015/2016 opening. This, Disney’s first park project in mainland China, is expected to dramatically alter the country’s themed entertainment landscape. In many ways it will raise the bar in terms of quality, pricing and guest experience. The aformentioned Chimelong International Ocean
Resort in Zhuhai, a US$1.2 billion marine-oriented theme park, hotel and resort from the Guangdong- based Chimelong Group, will open in stages starting later this year. Other major new theme park projects on the horizon, such as Monkey Kingdom near Beijing and Hello Kitty Park near Shanghai, both scheduled for a 2014 debut, are part of large scale, mixed-use complexes that include hotels, retail and often residential communities. In Manila Bay, Philippines, construction is underway on four resort entertainment and casino
Space Fantasy The Ride at Universal Studios Japan
complexes expected to compete with Macau and Singapore within the Asian gaming market. This mega-project, sponsored by the PAGCOR national gaming authority is being developed by four international and domestic consortia. Each will have a minimum of 800 hotel rooms. Themed entertainment facilities announced to date include indoor waterparks, themed shopping and live shows. In Korea, various national and regional government agencies and developers are promoting plans for large scale destination resorts and entertainment projects, many of which are located near Incheon Airport outside Seoul. This growing market is resulting in many opportunities for professional attraction operators, designers, fabricators, construction companies and equipment suppliers. Developers are increasingly seeking international expertise and technology as well as localised sources and implementation. For its part, the TEA is ramping up its activities in Asia with an exploratory committee headed by Jeff Mayer. Key TEA events for 2012 will include a get- together at this month’s Asian Attractions Expo in Hong Kong and an event in Shanghai in September, updating the status of the Disneyland project. In summary, the Asia market for themed entertainment is growing rapidly in volume and sophistication. Tapping into that growth and opportunity requires a dedicated effort and collaborative approach for all involved.
Chris Yoshii (
Chris.Yoshii@aecom.com), pictured, is vice-president and global director of economics in Asia for AECOM and boasts over 25 years’ experience in economic consulting for leisure, real estate and infrastructure projects worldwide. Operating in over 100 countries, AECOM offers a wide range of architecture, engineering and development services.
aecom.com/economics
This is a version of an article originally published by the Themed Entertainment Association in its 2012 Thea Awards programme, and reprinted here with permission.
teaconnect.org
JUNE 2012
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