MARKET REPORT: ASIA PACIFIC
Avatar – The Experience
Edutainment and digital transformation: work in progress The attractions industry in Asia is moving relatively slowly in the areas of edutainment and digital transformation. Partially hampered by compressed investment budgets, these trends have not been fully explored. However, combining educational experiences in real, engaging and meaningful ways with the carefree fun of attractions is critical to drive mid-week attendance. While Asian economies are rapidly
shifting to cashless societies, the digital transformation of the entertainment experience is still not fully developed. New systems and technologies are needed that are affordable, flexible and robust to meet this changing requirement.
Water park entertainment Water parks in Asia are becoming hip nighttime hot spots as young people join
families seeking outdoor entertainment. Live music, super large LED screens and fantastic light shows are transforming water parks into nighttime destinations. It is not unusual during the hot summer months that the peak time in parkS is now 6pm.
China: new hope Local governments in China have created significant challenges for the attractions industry in 2022 with frequent park closures, frequent testing of the population and generally discouraging travel. Recently, the national government has been more proactive in pushing to reopen the economy, and recent updates in policy seem to indicate a change in sentiment. This reopening will likely be uneven
across the country and attractions will wait to see the eventual outcome. There is new hope that the summer of 2023 will be a significantly better season for theme parks
and water parks in China. However, investments in new attractions will likely be delayed until the market is more stable. The development of cultural and nature- based attractions is likely to move ahead sooner as these enjoy more favorable policy support. Meanwhile several Chinese
manufacturers of rides and media attractions are greatly improving their technology and competitiveness. They are expanding their presence in Southeast Asia. Chinese theme park operators are also starting to look into the Southeast Asia market for operating and investment opportunities.
Vietnam: a hot new market For a range of reasons the Vietnam economy is booming, with GDP expected to grow 7-8% this year. A strong economy combined with a young and vibrant population is resulting in a great deal of
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PARK WORLD Handbook & Buyer’s Guide 2022/23
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