MARKET REPORT: ASIA PACIFIC
interest in the attractions industry. The current local players are all adding new resorts and attractions while aggressive new developers are rising. Incomes and attraction pricing are still relatively low compared to developed economies, but with strong growth, the business of attractions remains very positive.
Thailand, Indonesia, and Philippines poised for growth Southeast Asia has often hidden in the shadows of the bigger economies in Asia. However, Thailand, Indonesia and the Philippines are rapidly opening up and benefiting from a global shift in diversification of investment. Their large
middle class and young populations are poised to drive massive growth in consumption, tourism and leisure. While family experiences and enjoyment are the primary motives, edutainment and cultural enrichment are also aspects of attractions that are becoming more necessary.
In the pipeline The regional pipeline for new investments in theme parks and theme park lands remains strong although delays in opening dates have become common. Disney has announced a large number of expansion projects in Hong Kong Disneyland, Shanghai Disney Resort, and Tokyo DisneySea, and these investments should fit
well with the recovery of market demand and tourism. Universal Studios Singapore is
upgrading and adding new attractions, while Legoland has been very active in Asia with the opening a new resort in Korea in 2022 and the announcement of three new theme park resorts in China in Shenzhen, Shanghai and Chengdu. Water parks remain popular for
development in Asia given their smaller land area and lower investment costs. Many pipeline water park projects have been delayed and are awaiting improved economic conditions to move forward. Nonetheless, trends indicate a fast recovery of this market.
The Sea Shell aquarium at VinWonders on Phu Quoc Island, Vietnam
PARK WORLD Handbook & Buyer’s Guide 2022/23
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