APAC attractions market to hit $25bn in 2024 with Aussies ranked as 4th biggest spenders

APAC attractions market to hit $25bn in 2024 with Aussies ranked as 4th biggest spenders

The Asia-Pacific is expected to grow to a staggering USD$16.8 billion ($25.2 billion) by the end of this year with China and Japan coming out top as the strongest performers.

Highlights Asia-Pacific (APAC) attractions market:

  • 385 million in attendance to themes and amusement parks forecast for 2024
  • $16.8B USD ($25.2 billion) in visitor spending by end of 2024
  • Australia has ranked fourth for attractions and visitor attendance in APAC
  • China and Japan are the strongest performers in the APAC amusement sector

The growth of the amusement sector is correlated to the current political and socio-economic climate, Jakob Wahl President and CEO of the International Association of Amusement Parks and Attractions (IAAPA) told Travel Weekly ahead of this week’s IAAPA’s Expo Asia taking place in Bangkok.

Jakob Wahl. Source: LinkedIn

“I think we live in a world where there’s a lot of uncertainty in terms of politics, the economy and the climate,” Wahl said.

“The classic idea of an amusement park or a water park is to distract, you go there to forget about your daily concerns and have fun with your family or friends”.

People want to have fun

This need to have fun has been further amplified by two years spent indoors, Wahl said.

“People are really appreciating going out again and having fun, whether that be laughing on a roller coaster, getting scared on a ghost train or riding a waterslide together with family and friends”.

One of the other big trends driving up growth is intergenerational visits, Wahl went on.

“You usually go to an attraction during three phases of your life – as a kid, as a parent and as a grandparent. We see that many attractions actually invest right now into cross generational attractions.

An example of a cross-generational attraction is waterparks increasingly having slides next to each other rather than having just one big attraction.

IAAPA CEO and President Jakob Wahl and 2024 IAAPA Chairman Wuthichai Luangamornlert ride off stage on a tuk tuk. Photo by Thomas Tay

This cross generational trend is also highlighted by the changing length in stays. Whilst people used to visit theme parks just for the day, longer stays are now more common.

“We are seeing an increase in themed accommodation that extends the experience. People can really dive into this world of an attraction and can extend the stay in a very unique accommodation – such as Disney and Universal hotels”.

IAAPA Expo Asia 2024 is the largest trade exhibition in the region for the global attractions industry. It is taking place from May 27 to 30.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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