Ken Research announced its latest publication on Middle East Theme Park Market Outlook to 2021, suggested that International theme parks, improved technology and safety in the amusement parks are attracting large number of tourists, generating high revenue for the market
- Theme park market in the Middle East is expected to gain high revenue share in the future with more number of theme parks establishing in the region.
- Rising demand for entertainment centers has made market players to set up more indoor parks to cater the population.
- All inclusive admission fees have further added to the market revenues where visitors pay a higher price for the entry ticket, thereby impacting the market in a positive manner.
There has been a significant rise in the demand for indoor theme parks due to the sweltering heat during summers in the countries of the Middle East. Market players invested in indoor parks due to the preference of local and international visitors for fully air conditioned theme parks. Moreover, admission fee to most indoor theme parks in the Middle East countries is all inclusive of the prices of the games available to the visitors in the theme parks. This makes visitors pay more at the time of entrance, which adds to the overall revenues of the market. For instance, in order to attract families to the entertainment division of the Fakieh Group, the company launched Tarfeeh Fakieh Master Ticket in 2016. Though visitors pay a higher price to get the master ticket, it also offers 20% additional discount and provides access to Fakieh Aquarium, Dolphin Show, Fakieh Planetarium and AlShallal Theme Park, thus helping the group in expanding their customer base.
Apart from the already existing theme parks which are expanding in terms of games and small mechanical rides to match the growing craze of people towards entertainment centers; new theme parks have also been set up in the Middle East. For instance, Al Hokair Group had planned a USD 40.9 million investment in UAE to expand their indoor family entertainment center (Sparky’s) and hotels portfolio during 2014. The major example of the same could be quoted in form of recent opening of first indoor snow theme park in Riyadh in 2016, which has added to the prevailing trend of increased number of indoor parks in the country and more people in the customer base of players operating in the theme park market.
Ken Research (KenResearch.com) announced its latest publication on Middle East Theme Park Market Outlook to 2021, suggested that International theme parks, improved technology and safety in the amusement parks are attracting large number of tourists, generating high revenue for the market. Admission fee is mandatory to be paid for all theme parks except for few parks in Kuwait and thus, this source of revenue dominated overall revenue streams with a share of 62.9% in 2016.
Source: Ken Research.