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MARKET REPORT: LATIN AMERICA


Vidanta Riviera Maya, Mexico


A great year to remember


and another for uncertainty For the park industry in Latin America, 2019 represented a year of optimism, new opportunities, investment and recovery - with few exceptions. However, the COVID-19 pandemic not only brought down dreams and projects but seriously jeopardised hundreds of companies - with truly incalculable losses. Astrid González Nariño reports.


Mexico, region leader For Mexican businesses, 2019 was a very promising year and the figures showed this. This was even expressed by IAAPA, with vice president for Latin America and the Caribbean, Paulina Reyes, stating that “it has ‘high potential’ for growth in the short and medium term and the direct sales it generated last year (2018), USD$ 530 million, will increase 6% at the end of 2019, as has happened in the last five years despite the complex economic environment.” Mexico has more than 1,700 establishments related to the industry, including: theme parks, tourist centres, aquariums, fairs, science centres, museums


16


or resorts, as well as manufacturers and suppliers. Prominent brands such as Kidzania, Animal Kingdom, Xcaret, Dolphinaris and Six Flags appear in this group. At the first IAAPA Entertainment Industry


Conference, hosted in Mexico City in September 2019, president of Venture Entertainment Mexico, Guido Benassini, stated that “the investments of the industry are long-term, we do not plan to have immediate recoveries and we know that investments must be generated constantly to keep the public’s attention.” Benassini continued: “Mexico continues


to be very attractive, regardless of what is happening now on the government side,”


adding that, despite the excellent outlook, there was still the challenge of achieving agreements and alignment between operators and government, specifically on regulatory issues. It should be noted that among the


brands of Venture Entertainment Mexico, which has a wide presence in the Mexican Caribbean, are: La Feria de Chapultepec, Acuario Inbursa and Selva Mágica. Mexico is considered the leading


country in Latin America in the theme park and amusement industry, with an economic spill of around 840 million dollars and a growth of 6.5%, which was ruthlessly crossed, by Covid-19.


PARK WORLD Handbook & Buyer’s Guide 2020


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