MARKET REPORT: ASIA PACIFIC
cities. Investors are more willing to invest in a cluster of smaller attractions to diversify risk. Haichang and Changzhou Dinosaur Park are a few examples of companies rolling out a platform of family entertainment centers nationwide.
She Economy Leads:Women consumers are increasingly important to the attractions industry in Asia. Whether leading a family group or a group of friends, women are more willing to spend on experiences with their friends rather than goods. Theme parks are a fun, cheerful and safe place for spending time and taking photos to share on social media. Theme parks are responding to this demand with photogenic female friendly attractions, theme facades, character meet and greets and shows.
Theme Accommodations and Small Attractions: In Asia, themed accommodations are becoming more popular as guests enjoy unique and visually appealing experiences. Developers are looking to blend theme accommodations and small attractions together as a development package. These smaller attractions include family entertainment centers, adventure parks and water parks. Media IP companies are also considering these products as a good why to showcase their brands and enhance the fan experience.
Digital Marketing and AI, Work in Progress: The attractions industry in Asia was an early adopter to digital market and sales. The vast majority of tickets are now pre-sold directly from the park or through digital sales channels. Big data is increasingly used to identify key target markets and push attractive marketing offers and packages. Digital transformation with the guest experience is moving relatively
SplashMania Malaysia
slow constrained with tight investment budget and lackluster technology advancement. There is still great room to grow the use cases for digital enhancement of guest experiences. Individualized and custom experiences, augmented reality gamification, and generative AI all hold promise for new and immersive experiences. These new systems and technologies need to be affordable, flexible and robust to meet this changing need.
Driving Tourism Areas: There is more interest in theme attraction development in tourism areas rather than cities. Tourism area investment groups are looking to stimulate visitation and capture the rising middle and upper-class market. Tourism areas are trying to take advantage of their natural scenery, topography and culture to drive visitation. Small and medium sized theme attractions are seen as anchors to larger development districts.
Waterpark Rebound:Waterparks had a strong summer in 2023 with rebounding tourism and outdoor experience. Adding entertainment and night activities remains a popular trend as well as a more thematic and tropical experience and environment.
Vietnam, Thailand, Indonesia, and Philippines Rising Middle Class: Southeast Asia countries don’t always get the headlines they deserve. Vietnam continues to be a strong growth market although an anti-corruption campaign has slowed projects. Thailand, Indonesia and the Philippines are rapidly developing with a vibrant middle class benefiting from a global shift in diversification of investment. The tourism industry in Southeast Asia is still recovering the international market, particularly from China. Stalled projects are coming back alive throughout the region and new investments are being considered at existing parks.
PARK WORLD Handbook & Buyer’s Guide 2023/24
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