MARKET REPORT: ASIA PACIFIC In China, Legoland Shanghai is
expected to open in the summer of 2024, the first of several planned Legoland theme parks in China. OCT is expected to open their newest
World of Frozen Hong Kong Tight family budgets and high inflation
for basic goods has resulted in lower spending for leisure throughout the region. Families are still going out for experiences, but the frequency of trips and spending is lower.
Domestic travel in China has almost fully
recovered in terms of high-speed rail and air travel. High speed rail is becoming a more dominant form of travel and attractions need to develop connections to their nearest high speed rail station. Similarly domestic travel in other Asia countries has largely returned to pre pandemic levels. The Staycation market which was greatly boosted in Asia remains strong. Inter-regional tourism has not fully
recovered due lack of air capacity and reduced outbound travel from China. Chinese tourists are an important market for East Asia and Southeast Asia attractions. Those attractions relying on international travel will continue to face challenges. For 2024, theme attractions in Japan will
take the lead. Tokyo Disney Resort will be celebrating their 40th anniversary in 2024 in grand style with the opening of a Fantasy Springs land in DisneySea along with an in- park resort hotel. The Fantasy Springs area will incorporate Frozen, Peter Pan and Rapunzel Tangled themes. Universal Studios Osaka will be
expanding the successful Nintendo area with a Donkey Kong Country themed attraction. Universal Studios Singapore will open a Minions ride and themed area.
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Trends in Attractions in Asia Appreciation of Big Attractions: The big theme park attractions operated by Disney, Universal Studios and Chimelong all had very strong years and, in some cases, record years. Despite being considerably more expensive than other theme parks, guests still lined up in the millions to enjoy the scale and ambience that bigger parks have to offer. Of particular note is that many visitors will stay 10-11 hours in the park to get the full value experience.
Happy Valley theme park in Xian in 2024. Generally new development in China is
expected to remain soft. The private sector businesses in China face difficult conditions securing project finance. Bad loans to real estate developers have resulted in banks reducing their risk to the private sector. Most cultural and tourism developers in China are State Owned Enterprises.
Free Attractions as Competition: During the pandemic, many scenic areas and museums dropped their admission charges as a way to benefit the public and give people a reason to go out. However, an unintended consequence is customers are spoiled by free or low-cost admissions which makes it harder for private attractions to compete. At the same time, the financial condition of scenic areas and museums has worsened, and their level of service and maintenance is declining. There is a new trend in China called “City Walk Tourism” where visitors just travel to cities to experience the street culture and vibrancy. We would expect popular scenic areas to bring back admission charges if for no other purpose to control crowds. Nonetheless, value for money is still top of mind for the market.
Smaller is Still Preferred: An ongoing trend in the attraction industry is the proliferation of smaller attractions in a mixed-use project rather than single large theme parks. Small IP theme attractions and family entertainment centers have been announced in many
The Making of Harry Potter Studio Tour Tokyo
PARK WORLD Handbook & Buyer’s Guide 2023/24
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