Although the growth in Chinese theme parks continues, only 10% make a profit, reports ECNS.
Of the 2, 700 theme parks in China only 10% are profitable, 70% are making a loss and the remaining 20% break even. $24 billion is expected to be invested in building 64 new theme parks by 2020.
Many theme parks in China are not meeting visitor expectations in terms of creativity as well as basic operations and maintenance, and not enough attention is paid to generating repeat visits and investing in new attractions.
The president of the China Tourism Academy, Dai Bin, says that many theme parks are opened to attract investors to property developments and are closed once the surrounding land becomes profitable. There are calls for the authorities to stop granting licenses for new theme parks in order to create better standards.