Jun 7, 2019: Efforts made by the government, increased tourism and investments by international players in the region are the major factors which are expected to fuel the Middle East Theme Parks Market in future.
Effort made by the government to improve the tourism sector of the countries in the region was the major driving factor for theme parks market in the Middle East. Augmented inflow of tourists visiting the Middle East region added to the number of theme park visitors, thereby making them generate increased revenues during the review period. For instance, the total number of tourists arriving the UAE inclined from 15.4 million persons during 2014 to 17.8 million persons during 2016, registering a CAGR of 7.5% during the same period. The countries are shaping their events industry along with a favorable investment and business climate to attract more tourists into the country. Annual international events held in the region coupled with the increasing diversity of theme parks have not only increased the number of tourists but have also enhanced the length of stay of tourist in the region. Increasing supply of hotel rooms have reduced room rate which has also positively impacted the tourism sector in the region.
The government of various countries in the region is inviting international players in theme park market to invest in their country, which is expected to augment the overall revenue. For instance, Flow House Waterpark in Kuwait, which was launched in September 2016, is expected to attract more people to the theme parks market of the country. Similarly, Warner Bros amusement park launch in UAE and the entrance of Kidzmondo theme parks in Saudi Arabia by 2025 are anticipated to positively impact the overall Middle East theme parks market during the outlook period.