www.parkworld-online.com
TEA/AECOM
the year," he continued. "Not only were guests spending more per transaction, but the number of transactions also increased, pointing to a revenue trend that might greatly influence how parks strategize for future growth."
THE AMERICAS - THEME PARKS AND WATER PARKS In the Americas, many of the parks that did relatively poorly in 2022 outperformed this year and others that did exceedingly well last year had more tepid results in 2023. A large part of this correlation can be tied to when facilities unveiled new capital projects. "The wave of post-pandemic pent-up demand
has essentially ended," stated Francisco Refuerzo, an economist with AECOM. "Parks that quickly returned to the time-tested method of constant reinvestment to continue to attract guests tended to perform better."
AND WATER PARKS China's parks saw massive gains over 2022 and ultimately rebounded to their pre-pandemic numbers, helped in large part by expanded properties from multiple major operators, and in some cases free or reduced-price tickets. Outside of China, parks continued to fare well and are expected to continue to grow as travel in the region starts to regain momentum. "Arguably, the Asia-Pacific market saw the
biggest and longest impacts from the pandemic," said Beth Chang, the executive director of AECOM's Economics practice for its Asia-Pacific region. "And while the numbers have returned to pre-Covid levels, it remains to be seen whether or not the region will return to the exponential growth observed previously."
EMEA - THEME PARKS AND WATER PARKS With a steady stream of investment during the pandemic, European parks shone in 2023, with gains nearly entirely across the board. Notably, the region also welcomed its first park from the Middle East onto the list with the addition of Warner Bros. World Abu Dhabi. The May 2023 opening and subsequent strong showing of SeaWorld Abu Dhabi indicated both parks may join the list next year, potentially making 10% of the list from the Middle East. "The success of the Middle East region provides
a welcomed addition to our list," said Jodie Lock, AECOM's associate director of economic development. "The relative strength of the EMEA region as a whole, across both theme parks and water parks, is a model for success in both mature and emerging markets."
MUSEUMS Museums remain only 6% below 2019 levels, but activities in different regions of the world vary greatly and point to market share shifts occurring in has emphasized and incentivized museum development and visitation, resulting in a larger share of the Top 20 Museums Worldwide list being held by Chinese institutions. European museums, especially those in the U.K., have seen more modest growth, while facilities in North America are starting to benefit from rounds of long-overdue investment and expansion. "Museums have really started embracing more
interactive and dynamic exhibits as a means to attract audiences and retain interest in their institutional mission," said Linda Cheu, vice president with AECOM's Economics + Advisory practice. "While the digital or virtual footprint of museums dramatically expanded during the peak of the pandemic, we are now seeing the physical spaces being revitalized through reinvestment. The resulting experiences are indicative of a bright future for cultural institutions around the world."
SEPTEMBER 2024 IAAPA EUROPE EDITION
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