IN the current global climate of unpredictable tariffs, geo-political tensions, rising costs and other less-than-happy news, we all could do with the distraction of attractions.
As Jakob Wahl, CEO of IAAPA, the global association for the attractions industry, puts it: “The world is complicated. You want to be distracted. You want to have fun. You don’t want to think about politics. You don’t want to think about the economy. You don’t want to think about natural disasters. You take your friends, your family, your colleagues and you have a fun day, forgetting about all the concerns of daily life.”
The attractions industry usually outpaces the economy in good times, and falls sharply behind when the economy is declining. It sits firmly in the nice-to-have category, but it’s one which provides welcome relief from the harsh realities of life.
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Telling Numbers
The pandemic did unsettle the attractions industry, which was tracking well globally. Visitors’ numbers were climbing steadily — 1,083.3 million (2017) to 1,119.9 million (2018) and 1,137.4 million (2019).
But, along came Covid, which sent the numbers tumbling as activities ground to a halt around the globe.
Parks closed, businesses folded, jobs were lost.
But, when things started easing up, the need to let people out of the confines of their homes, to be entertained. As more people returned to travelling and exploring their own countries or regions, the attractions industry picked up. Attendance figures have been climbing since 2022, according to the IAAPA Global Theme And Amusement Park Outlook: 2023-2027.
Back To Having Fun
IAAPA represents more than 8,000 attraction, suppliers and individual members from more than 100 countries.
The figures in the report, collated by consulting firm Wilkofsky Gruen Associates, project global spending to rise from US$48.1 billion in 2022 to US$76.8 billion in 2027.
The projected attendance figures up to 2027 are still not as high as the pre-Covid period, but are climbig.
It should also be noted that the figures were pulled together before the reign of Trump, who has since rained down reciprocal tariffs that have shocked the global economy.
New Growth Regions
Healthy tourism numbers and growing investment in the entertainment industry in the Middle East and Africa are expected to see the attractions segment enjoy 20% compound annual increase there.
While the Asia-Pacific region was slow to recover from the pandemic, it is expected to be growing fast (18%) in the next few years.
North America and Europe are expected to see single-digit growth.
While the pick up in regional tourism signalled a potential rise in attendance numbers, global tensions from wars and geo-political conflicts could prove disruptive to any projections.
Other Influencing Factors
To enhance the guest experience, parks are upgrading their food and beverage offering and some are building themed parks with accommodation to encourage longer stays. Instead of a day trip, families can stay overnight and enjoy a weekend or special outing.
Jack Chan, Executive Director and Vice President of IAAPA, who is based in Hong Kong, observes a trend of the younger generation not wishing to join the attractions industry.
The fallback is technology, which is already making the process of booking tickets and facilities much smoother, reducing waiting time at attractions, and allowing for more time to enjoy the actual entertainment.
This is all good news for guests, who can spend more time enjoying themselves instead of waiting their turn to get entrance tickets and queuing for rides.
With so much uncertainty in the air, you’d best cram all the fun you can into life and enjoy the ride.
