Currently the Indian Amusement industry is of Rs. 4, 000-crore and the leisure industry expects fresh investment of Rs 10, 000 crore by the year 2020. In terms of employment generation, the new amusement parks are likely to create jobs for six crore man-hours per month.
Global leaders in entertainment parks and attractions like Universal Studios, Disney, Sony and Ripley Entertainment are mulling over investments of billions of dollars in India considering the vast potential in this region. Private equity funds are also aggressively dedicating resources towards this sector.
The domestic amusement park industry is estimated to grow by 10% per cent per annum till 2009-10.
Robert E Masterson, chairman of Ripley Entertainment Inc, who visited India for the 8th IAAPI Amusement Expo said the world’s leading players would set up bases in India within the next five years.
“The opportunities and challenges are probably the greatest here. All leading players are quietly planning to enter India, a market where the rate of growth is five times of that of North America. India is the fastest growing region in the world, ” Masterson said.
The Indian Association of Amusement Parks and Industries (IAAPI) will be organizing its 9th Amusement Expo 2009 in Mumbai from February 21st to 23rd February, 2009. The three-day event would see participation of over 50 exhibitors from Argentina, Belgium, Canada, China, Dubai, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, Thailand, the US and the UK.
IAAPI is the only platform in the country, which recognizes and facilitates the small and big players in the Amusement Industry looking at the tremendous growth potential of this industry in the next 5 years.