The report titled “UAE Theme Park Market Outlook to 2021 – Increasing Inflow of Tourists and Development of Multi-Themed Parks to Foster Future Growth” by Ken Research suggested a robust CAGR of 18.5% in terms of revenues by 2021 with major investment groups including Miral Asset Management, Landmark Group and IMG Group dominating this space.
UAE is considered as most preferred holiday destination for international tourists visiting the Middle-East region. There is a high positive correlation between the number of international arrivals into the country and increasing theme park attendance. Companies have introduced multi-themed parks in a single destination while offering all inclusive packages at discounted prices to meet the changing demands of diverse customers. As a result, visitor spending in the country had enhanced during the review period, consequently benefiting the theme park market. UAE theme parks have also been observed to leverage the growing technology to effectively cater the diverse group of customers. Theme park operators have introduced their mobile application to aid ticket sales through dynamic pricing and to ease long queues at various rides through online reservations.
Theme Parks do not singularly attract visitors to the country; however, they have a crucial impact on the length of stay of tourists visiting the country. According to DXB Entertainment, more than three billion individuals are less than a four hour flight away from the UAE. Thus, companies are increasing their investment to introduce multi-theme parks while others are expanding their area of operations in existing theme parks due to the projected rise in tourism in the future, hence driving the market. The strategic location and lack of regional competition in the theme park segment has been the driving force behind Dubai’s dominance in the theme park market in UAE.
Major theme park operators had introduced famous themed based rides such as Marvel, Cartoon Network, Shrek and Kung Fu Panda, to increase visitor attendance. Similarly, Miral Asset Management has invested in the expansion of Ferrari world to attract large number of Ferrari crazy people toward amusement park. Such planned investments which could cater the customers according to their likings not only attracted large number of tourists towards amusement parks but also resulted in huge expenditure from their end, hence assisting the segment gain dominance in the market.
The growing potential for technical advancement of mechanical rides and attractions had incentivized theme park operators to continuously upgrade them to effectively cater to the changing preferences of customers.
Key Topics Covered in the Report:
UAE Theme Park Market
Water Parks in UAE
Water Parks in the UAE
Amusement Parks in UAE
Top 10 Water parks In UAE
Market Statistics Amusement Park
Abu Dhabi Amusement Park Market
Entry Fees UAE Theme Parks
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Ankur Gupta, Head Marketing & Communications