AMUSEMENT INDUSTRY BOOMING IN THE ASIA PACIFIC REGION AFTER PANDEMIC ROLLERCOASTER RIDE
BANGKOK, May 23, 2024/Medianet-AsiaNet/--
· The Asia-Pacific (APAC) attractions market isn’t just surviving but thriving – forecasting almost 385 million in attendance to themes and amusement parks, $16.8B USD in visitor spending by end of 2024, and (pending economic conditions) between 619-750m visitors in the region.
· The region’s amusement market is projected to increase by 67%, second only to the Middle East in growth, signifying huge potential for innovation and profitability.
· China and Japan are the strongest performers in the APAC amusement sector and are forecast to increase their share of total regional spending over the next three years.
The global amusement industry will converge in Bangkok to learn about the latest innovations and trends – as well as take a sneak peek into its exciting future – at the largest trade exhibition of its kind in the region: the IAAPA Expo Asia 2024, running 27 to 30 May.
From thrilling rides to robotics, safety features to AI experiences, the inspiring three-day international extravaganza at Bangkok’s Queen Sirikit National Convention Centre will showcase the newest technological advancements in the attractions industry from more than 300 exhibitors.
The industry – one of the hardest hit by COVID lockdowns, border closures and restrictions –has made a strong comeback from the pandemic, recapturing an impressive 98% of spending lost in 2020. Global total spending for the industry is projected to reach nearly $58.7B USD by the end of 2024.
IAAPA Expo Asia Pacific Executive Director and Vice President, Jack Chan, said a primary factor contributing to the enduring popularity and growth is the universal appeal of entertainment and recreation activities.
“Amusement and theme parks are a cultural phenomenon that not only provide entertainment to millions, but also contribute significantly to the region’s and global economy,” he said.
“We live in an era where experiences are valued more than ever and consumers’ appetite and expectations for immersive entertainment are rapidly growing, so the task for industry players is to meet these challenges and stay ahead of the game – pardon the pun.”
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