MARKET REPORT: LATIN AMERICA
Regional development Despite the challenges by many Latin American economies, such as recession and inflation, the parks and tourist attractions sector develop at different speeds in the region. Although faster in markets such as Brazil, Mexico and Colombia, for example, the sector is still in its infancy in other countries. Despite these regional differences, a study by IAAPA Latin America, released in April of last year, shows that the parks and tourist attractions sector have an economic impact of US$30.1 billion in the 27 countries of the region. The study includes theme and water parks, as well as attractions such as museums, cultural attractions, zoos and aquariums. “The study is a significant milestone in our understanding of the economic impact of the attractions industry in Latin America and the Caribbean,” explains Paulia Reyes, Vice President and Executive Director of IAAPA Latin America, the Global Association for Attractions Industry. Among the data collected by the study is the total of 828,400 jobs supported by parks and
Tecuani Beast
attractions, 528 thousand of which are direct. In addition, companies in the sector contributed more than US$2.8 billion in tax payments during the year. The data revealed in the IAAPA study
and the Sector Panorama of Parks and Attractions in Brazil, by Adibra and Sindepat, prove that the parks and tourist attractions industry contribute significantly to the development of the destinations in which they are located, creating jobs and distributing income. The installation of these
Highlights – Innovation: Latin America: largest and faster Some of the attractions acquired by theme parks, water parks and tourist attractions in Latin American markets are unprecedented in the region or even in the world, as are some of the attractions that will be presented in the parks under construction. Here are just some of them: Beach Park (Ceará, Brazil) – Surreal is the name of the largest water roller coaster in the world that WhiteWater is building at Beach Park, one of the main water parks in Brazil. It is 28 meters high and 342 meters long, breaking the world record held by a water roller coaster in Chicago (USA). The experiences lasting approximately one and a half minutes will be carried out on double tubes reaching up to 42 km/h. Cacau Park (São Paulo, Brazil) – A roller coaster developed by Vekoma that should be the fastest in Latin America, with a height of 55 meters and a speed of 120 km/h in 5 seconds; CityWalk inspired by Universal’s parks, an open-air boulevard with themed shops and restaurants; two themed hotels with over a thousand rooms. Parque del Café (Quindio, Colombia) – The country’s first inverted roller coaster, the Avix, manufactured by Gerstlauer, opened in December. At 26 meters high and 355 meters long, Avix reaches speeds of 72 km/h. Vidanta World’s BON Luxury Theme Park (Nuevo Vallarta, Mexico) – Among the planned attractions are the Tecuani Beast, the only double-launch roller coaster in Latin America; Beat It; Ashara: Goddess of Fire; Sol: Speed of Light; Izari’s Flight; Delia’s Adventure; and Vista Wheel, among others.
enterprises, even the smaller ones, implies developing infrastructures and hiring of local labor, after these natives have been trained by the parks and attractions themselves, in search of professionals for their enterprises.
Despite political and economic issues
that hinder the sector’s progress in Latin American markets, such as currency devaluation in an industry where equipment is sold in dollars and legal uncertainty, a study by The Business Research Company, a market research giant, shows that the global amusement and theme park market generated US$95.5 billion in 2024 and estimates the industry’s size at US$99.34 billion this year. In 2029, this volume will reach US$114.77 billion, according to the study.
The sector’s expansion is supported by
different factors, many of which are also occurring in Latin America, such as technological innovation, increased income and the search for unique, immersive and interactive experiences, with the capacity to attract new visitors and increase the frequency of visits. The proliferation of social media also increases the visibility of parks, with visitors sharing their experiences and influencing others in their visit choices. The trends identified in the study lead us to believe in the expansion of parks and attractions in Latin American markets where this industry is already established, such as Mexico, Brazil, Colombia and Argentina.
PARK WORLD Handbook & Buyers’ Guide 2024/25
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