The 2023 TEA/AECOM Theme Index and Museum Index, presented by Storyland Studios, a global experience design and strategy firm, is the definitive resource of attendance information on the world’s most-visited theme parks, water parks, and museums. Now in its 18th year, this annual study is produced in collaboration with The Themed Entertainment Association (TEA), a non-profit representing compelling places and experiences worldwide, and the Economics practice at AECOM. The 2023 edition was released on 8 August 2024.
“The industry depends on the information and data from the TEA/AECOM Theme Index and Museum Index,” says TEA International Board President Melissa Oviedo of B Morrow Productions. “The trends identified within this study are vital for planning for the future in the cultural attractions and theme park markets. TEA is honored to work with AECOM on this valuable resource.”
This year’s edition demonstrates that operators worldwide are achieving or surpassing their pre-pandemic attendance records while observing developments within the industry that may persist for many years to come.
A return to rankings
Global COVID-19 restrictions finally ended in 2023 as countries lifted the last travel bans and restrictive operating standards. Attractions around the world, looking to re-establish a sense of regularity, enticed visitors with new additions, special offers and unique events. Many were successful, as the world’s top 25 theme parks in terms of attendance grew by 23% compared to 2022 data. Museums saw a 95% increase, having experienced more detrimental effects during the pandemic.
Parks in China experienced the highest year-over-year growth (78%), having experienced the most restrictive operating environment in 2022. The Americas had a 3% gain, with the large Orlando parks slightly down due to weak international travel to the US. Europe experienced a 5% growth, mostly due to parks investing in expanded resort facilities.
The 2023 TEA/AECOM Theme Index and Museum Index examines the sector in the Americas, Asia-Pacific, Europe, Middle East, and Africa (EMEA), and the global market. During the pandemic (2020-2022), the list in 2019’s edition was held in place without re-evaluation by attendance. As operating conditions have now stabilised, the annual ranking has resumed, adding a number of new facilities.
“2023 was really a major turning point for the industry,” says John Robinett, senior vice president of AECOM’s Economics + Advisory practice. “The pandemic was largely behind us at the start of the year, and parks and museums could start focusing on investment plans for the future.
“Additionally, many operators continued to report higher per capita spending throughout the year. Not only were guests spending more per transaction, but the number of transactions also increased, pointing to a revenue trend that might greatly influence how parks strategize for future growth.”
Theme parks and water parks
Many of the parks in the Americas that fared somewhat poorly in 2022 performed better this year, while those sites that performed exceptionally well the year before saw less impressive results in 2023. This can be mostly explained by the timing of the facilities’ new capital project announcements.
“The wave of post-pandemic pent-up demand has essentially ended,” says Francisco Refuerzo, an economist with AECOM. “Parks that quickly returned to the time-tested method of constant reinvestment to continue to attract guests tended to perform better.”
Meanwhile, China’s parks experienced significant growth in 2022 and eventually returned to their pre-pandemic levels, largely due to the expansion of assets by several big operators and the occasional offering of free or discounted tickets. Elsewhere in Asia, parks outside of China have fared well and are predicted to keep expanding as regional travel begins to pick up steam.
“Arguably, the Asia-Pacific market saw the biggest and longest impacts from the pandemic,” says Beth Chang, the executive director of AECOM’s Economics practice for its Asia-Pacific region. “And while the numbers have returned to pre-Covid levels, it remains to be seen whether or not the region will return to the exponential growth observed previously.”
Thanks to ongoing investment during the pandemic, European parks flourished in 2023, seeing gains almost everywhere. Warner Bros. World Abu Dhabi became the first park in the region to be added to the list of the region’s most visited ffrom the Middle East. Following SeaWorld Abu Dhabi’s successful debut in May 2023, both parks have the potential to be added to the list the following year.
“The success of the Middle East region provides a welcomed addition to our list,” says Jodie Lock, AECOM’s associate director of economic development. “The relative strength of the EMEA region as a whole, across both theme parks and water parks, is a model for success in both mature and emerging markets.”
Museums
Museums are just 6% below their 2019 levels, but operations around the globe varied substantially. Asia, and China in particular, has placed a strong emphasis on and provided incentives for museum development and visitor numbers. As a result, more Chinese institutions are listed among the Top 20 museums worldwide. While museums in North America are beginning to reap the benefits of long-overdue expansion and investment, those in Europe, particularly those in the United Kingdom, have had more modest growth.
“Museums have really started embracing more interactive and dynamic exhibits as a means to attract audiences and retain interest in their institutional mission,” says Linda Cheu, vice president with AECOM’s Economics + Advisory practice.
“While the digital or virtual footprint of museums dramatically expanded during the peak of the pandemic, we are now seeing the physical spaces being revitalized through reinvestment. The resulting experiences are indicative of a bright future for cultural institutions around the world.”
A free resource for the industry
“The TEA/AECOM Theme Index and Museum Index provides essential benchmarking information that the industry has come to rely on,” says Oviedo. “TEA is proud to help provide this through its longstanding partnership with AECOM, with special thanks to Storyland Studios for their support.”
The TEA/AECOM Theme Index is an annual report that TEA and AECOM have produced and published together since 2006. The Museum Index was added in 2012. The report is freely accessible as a reference for business and education.
This year, Storyland Studios joined the report as a presenting partner. “In no other medium will you find a collection of data that enables you to measure the success, opportunities, and trends of the industry in a single place. This invaluable and free resource continues to be the ultimate source of theme park and museum data available to the public,” says Ben Thompson, partner & chief strategy officer at Storyland Studios.
To view the report, please click here.
