Theme Parks Industry - Introduction

Theme parks are the major attractions in the tourism industry and they generate the greatest number of visitors and revenues. According to data presented by IAAPA1, by 2011 revenues generated by the amusement industry have increased by 35 percent compared to 2003 and attendance will grow by additional 5 percent per year.  In 2011, the 25 most visited parks totalized 198 million visitors (+4.8% compared to 2010).

Theme parks are star players in the tourism industry and play a special and important role in generating tourism demand. Theme parks are the main motivators for tourism trips to many destinations and core elements of the tourism product.

As of today, there are more than 600 amusement and theme parks in the U.S., and 300 in Europe. The Magic Kingdom at Walt Disney World in Orlando (Florida) is the most visited theme park in the world. With the exception of only two years, the amusement and theme park industry has increased exponentially every year for the past two decades. Likewise, the parks employ over 600,000 full-time and seasonal employees. The phenomenon of the theme park industry is considered an American invention, but has found roots worldwide. The theme park industry has been around for more than 50 years and, like any other industry, it has evolved through the years to help guests escape from real life, if not for a few hours, at least for a few moments on its attractions. As the theme park industry grew and matured so did its clientele. The challenge for companies is to discover that next generation of attractions, and, in many cases, whenever that key idea surfaces, it starts a trend.

Competition in the theme park market is huge and is growing also in terms of an increasing number of parks, but also relative to other uses of leisure. But in different areas, the theme parks market seems to be reaching its saturation point and the parks have to cater for visitors who are getting more and more experienced and demanding. Given these trends of growing theme park supply, environmental constraints and increasingly discriminating consumer demand, it can be concluded that theme parks, to survive in this competitive market, must optimize it, given an ever increasing number of parks and future trends of consumer behavior.

As the industry becomes increasingly competitive, it is necessary to consider the following three main principles: 

• Create a unique identity: the development of a character (as Mickey and his friends), an original architectural form, events and a special programming.
• Propose a critical mass of attractions: according to some analysts, the investment to attract international tourists should generally exceed U.S. $ 150 million. Success will be greater if the technology is combined with high quality service;
• Develop complementary activities such as high-end hotels, offer facilities for holding seminars and conferences, sports - golf, tennis, boating, etc…

 

The 5 most important groups in the world are Walt Disney Parks and Resorts, Merlin Entertainments Group, Universal Studios Recreation Group, Parques Reunidos and Six Flags Inc.