The Themed Entertainment Association (TEA), a non-profit representing compelling places and experiences worldwide, has released its latest industry benchmark report.
The TEA/AECOM Theme Index and Museum Index serves as an integral industry guide for the global leisure sector each year. The Index breaks down the leisure business by region, as well as providing an overview of the global market and its top operators.
The report also recognises the continued effects the pandemic had on the industry last year, looking at the continuing indicators of recovery and innovation now beginning to take place.
“Developers and decision-makers around the world regularly turn to the TEA/AECOM Theme Index for key information and statistics on theme parks, water parks, and museums, says TEA International Board president Chuck Fawcett of Medici XD.
“TEA values its continuing partnership with AECOM and the ability to provide this valuable resource to our business community.”
Regional findings
North America performed better than any other market for theme parks and water parks, in part because of fewer governmental restrictions and a decline in COVID variants during the crucial summer season. This led to a 136% increase in 2020 for theme parks. Water parks did even better, increasing by 177% from 2020.
Top parks in the Florida area operated with few restrictions from the government, but they experienced a slower yearly influx of foreign visitors.
The number of visitors to theme parks increased by 29% in the Asia-Pacific region, but only by 8% at water parks in 2020. The majority of the difficulties stemmed from China’s strict COVID protocols, which limit travel and require quarantines. Although other parks in the area fared better, Chinese tourists make up a large portion of the region’s tourism industry. This region is anticipated to continue experiencing a slower rate of recovery than the rest of the world in 2022 due to China’s continued emphasis on its Zero COVID policy.
Total attendance increased by 63% for the top theme parks and by 24% for the top water parks in the EMEA region. The absence of international tourists and the prevalence of indoor water parks in Europe were two major contributing factors, with parks that primarily serve local markets performing better than those that rely more on tourism.
A return to normality
The report also highlights interesting statistics from industry leaders including Merlin Entertainments, which reported that 2021 revenues for some of its properties were higher than 2019 figures, indicating increased per capita spending and underlying demand for a return to leisure venues.
“2021 showed that the leisure industry is resilient in the face of adversity,” says senior vice president of AECOM’s Economics + Advisory practice, John Robinett.
“Pent-up demand is driving a return to leisure destinations. Impressively, some operators saw an increase in per capita spending and revenues that approached 2019 levels. If we look at the five-year average prior to COVID and compare it to numbers from 2021, we see that in many parts of the world we are already approaching those historic levels.
“We are seeing even more improvement in attendance in 2022 in nearly every region and parks are already responding by investing in new attractions for 2023 and beyond, which is truly the sign of a healthy industry.”
The full TEA/AECOM Theme Index and Museum Index can now be accessed online.
The TEA will present a members-only webinar that will take a closer look at the 2021 Theme Index & Museum Index, presented with AECOM later this week, with registration now open.
