Across The Border | China’s theme park industry to become world’s largest by 2020, analysts say

China’s theme park market is set to become the world’s largest by 2020 thanks to the country’s growing middle class, as local and international players battle it out for dominance, analysts say.

Demand for amusement parks in the country has ridden the wave of growth in China’s middle and upper-middle classes, expected to make up around 50 per cent of GDP consumption by 2030, adding 326 million people in the next 15 or so years, according to estimates from ANZ Bank.

“The Chinese theme park market is growing rapidly,” said Tim Mackey, a lawyer with law firm Paul Hastings. “China represents a massive and growing market of consumers who have more money to spend on entertainment and media products than ever before.”

After the debut of Shanghai Disneyland’s US$5.5 billion resort this summer, there are currently about 65 major amusement parks being built or planned in China, from foreign companies such as Universal and Six Flags to domestic operators like Chimelong, Fantawild and Songcheng Performance Development, according to a Forbes article.

This growth has followed the increased popularity of Western brands and culture in China, as well as a growing interest from Chinese companies for globally recognised content, Mackey said.

“Naturally, this makes China very attractive to the major US industry players,” he said. “Disney and many of its peers have already made substantial investments in China.”