- Theme parks market of the Kingdom is expected to gain high revenue share in the future as global theme parks are expected to launch by 2021
- Rising demand for entertainment centers typically by female customers are expected to assist market in growing its revenue
- Foreign tourists arriving in Saudi Arabia were the major revenue contributors in the country’s theme parks market in 2016 majorly due to the efforts of tourism department to make Kingdom a tourist destination.
The theme parks market of Saudi Arabia has witnessed some new launch of theme parks by significant international amusement park players by offering franchisee to the Saudi nationals. For instance, Landmark Leisure, the entertainment division of the Landmark Group, launched Saudi Fun City center at Oasis Mall, Alkhobar in 2016. In 2015, another international market player, KidzMondo announced to open their first theme park in Riyadh by 2017 under a franchisee agreement. The global player plans to invest USD 133 million in the theme parks market of the Kingdom. The growing international investments would result in presence of advanced technology theme parks in the Saudi Arabia and the fact that theme parks are major source of entertainment in the country, it is anticipated to foster growth of the market at a high rate during the forecast period.
Moreover, social restrictions in the Kingdom have made market players shift their concern towards the growing demand of women for theme park services in the country. Market players offer benefits to women customers by way of arranging specialized hours wherein only women are allowed to enter in that specific interval. The expansion of female customer base has also added to the merchandise sales from outlets within the park premises as female customers are more inclined towards shopping; thereby driving the overall theme parks market in a positive manner.
Ken Research in its latest study, Saudi Arabia Theme Parks Market Outlook to 2021 suggested a rapid growth in Saudi Arabia theme parks market majorly driven by expanding tourism in the country. Technological advancements and rising craze of domestic population towards indoor theme parks of the country is attracting large number of visitors, generating high revenue for the market.
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Ankur Gupta, Head Marketing & Communications