UAE Theme Park Market Overview
UAE is considered as most preferred holiday destination for international tourists visiting the Middle-East region. The country had witnessed an augmented inflow of tourist into the country from ~ million tourists during 2014 to ~ million tourists during 2016. During the same period, theme park attendance inclined from ~ million individuals (2014) to ~ million individuals (2016). Industry insight has indicated that tourist revenue generated in the county inclined to USD ~ billion during 2016.
UAE theme parks have also been observed to leverage the growing technology to effectively cater the diverse group of customers. Theme park operators including IMG Group and DXB Entertainment have introduced their mobile application to aid ticket sales through dynamic pricing and to ease long queues at various rides through online reservations. The launch of new theme park including Bollywood Parks, Legoland and Motiongate in the country during 2016 period also acted as major driver for the market.
The revenue generated by theme parks in the UAE inclined from USD ~ million during 2014 to USD ~ million during 2016, registering a CAGR of ~% during the period 2014-2016. The average expenditure for a day out at an attraction in the UAE was estimated to range from USD ~-USD ~ during 2014-2016. Conversely, visitor spending at UAE theme parks inclined to USD ~ million during 2016.
UAE Theme Park Market Segmentation
The revenue generated by amusement parks has driven the overall revenues of the theme park market during the review period. The growing potential for technical advancement of mechanical rides and attractions had incentivized theme park operators to continuously upgrade them to effectively cater the changing preferences of customers.
Water parks had only accounted for ~% of overall theme park market revenues during 2016. Lesser number coupled with lower admission fee for water parks had adversely impacted higher revenue generation from this segment. It has been observed that most of the water parks in the UAE are situated in premises of luxury hotels and resorts and therefore, are mostly preferred by the guests living in these hotels and resorts.
Future Outlook for the UAE Theme Park Market
The revenue generated by theme parks in the UAE is projected to augment to USD ~ million by 2021, registering a CAGR of ~% during the period 2016-2021. The primary force that will further drive up the revenues of this market is the proposed theme parks in the pipeline that will be operation and open to the public during this period.
The total number of tourists in the country is estimated to incline from ~ million persons during 2016 to ~ million persons during 2019. Visitors are attracted to the Emirates’ retail offerings, hotels, beaches, Grand Mosque, and desert safaris. Visitor spending at UAE theme parks is said to incline to USD ~ million by 2020.
Trends and Developments in the UAE Theme Park Market
Technological Advancement in the UAE Theme Parks: Theme park operators have continuously upgraded their mechanical rides through new and unique technology to augment customer satisfaction. For Instance, World of Adventure theme park is equipped with a 100-seater Hulk Epsilon Base 3D ride system that comes with a 360-degree projection screen and multi-axis motion. In addition, Avenger Battle of Ultron leverages cutting-edge motion tech and stereoscopic 3D imagery while the Velociraptor coaster allows riders to experience a G-force of up to 3.8.
Multi-Park Tickets and Inclusive Packages: Large theme park operators have started offering multi-park tickets and all inclusive packages to customers. These tickets give individuals access to a variety of amusement and water parks, neighboring restaurants, hotels and transportation facilities. For example, Dubai Parks and Resorts (DPR) has created a three park destinations in Jebel Ali with space for a fourth water park in the same area. The company has also established hotels, various themed restaurants and other recreational facilities within this destination to provide a sound foundation for enhanced visitor experiences.
Key Factors Considered in the Report
Customer Profile in the UAE Theme Park Market
SWOT Analysis for the UAE Theme Park Market
Water Parks in the UAE
Trends and Developments in the UAE Theme Park Market
Amusement Parks in UAE
Entry Fees UAE Theme Parks
Market Share of Investment Groups
Company Profiles of Major Investment Groups
Water parks In UAE
Future Outlook for the UAE Amusement and Theme Park Market
Market Statistics Amusement Park
Analyst Recommendation
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