The digital revolution has transformed theme parks as theme park operators have adopted real-time information management technology for enhancing visitor experience. Given the country’s sweltering heat during summers, tourists have exhibited an increased preference towards indoor fully air conditioned theme parks.
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. Country is considered as most preferred holiday destination for international tourists visiting the Middle-East region.
The government has eased regulation to encourage large-scale public and private investments into tourism enablers (airports, hotels, transport infrastructure, new attractions and theme parks) and is setting a strong foundation to support the expected augmented tourist arrivals into the country. In order to further boost tourism in the country, the government had eased visa restrictions for China and Russia by providing visa-on-arrival to individuals from these countries.
Country theme parks have also been observed to leverage the growing technology to effectively cater to diverse group of customers. Theme park operators have introduced their mobile application to aid ticket sales through dynamic pricing and to ease long queues at various rides through online reservations. Introduction of all-inclusive and customized entry packages, Continuous innovation of rides and attractions through research and development and Systematic check-ups and routine maintenance of the theme park to ensure high safety standards will have a positive impact on theme park market.
Increasing Inflow of Tourists and Development of Multi-Themed Parks to Foster Future Growth suggests that Miral Asset Management, Landmark Group and IMG Group will continue to dominate this space. However, these players will witness rising competition from DXB Entertainment and Al Hokair Group in the coming years.
Theme Park Market is projected to register a positive CAGR during the period 2019-2025. The primary force that will further drive up the revenues of this market is the proposed theme parks in the pipeline that will be operational and open to the public during this period. International brands including Warner Bros., Six Flags and SeaWorld have set up strategic partnerships with investment groups in the country to establish state-of-the-art theme parks as part of the Tourism Vision 2024.