by Daan Duijm, Sun World Group
Asia is on track to top 50% of global GDP by 2040 and drive 40% of the world’s consumption, as shown by Mckinsey Global Institute’s research. In the last 20 years, prior to COVID-19, the hospitality industry has quadrupled, and countries like China, India, Vietnam and Indonesia have been making leaps in growth.
With young populations and rapid growth, millions have been lifted out of poverty and into the consuming class, passing the income level to be able to make significant discretionary purchases. A few years ago, Southeast Asia alone had 80 million households in the consuming class. This is likely to double by 2030 to 163 million households.
Theme park projects to watch in Asia
According to the TEA/AECOM Theme Index, Asia’s Top 20 theme parks surpassed North America in attendance in 2020.
With a strong growth outlook, many Asian countries are also preparing to open new entertainment venues in the future. Many of these projects are part of integrated resorts or even entire cities as mixed-use entertainment and real estate.
Let’s have a look at some theme park projects coming to Asia in the next few years:
China
In China, we see both international brands and local brands rapidly growing.
After Shanghai Disney Resort opened, Universal Beijing Resort followed in September of 2021, and both parks have since announced expansions. Universal Beijing will double in size, with five new hotels, a Zootopia themed land and other attractions expected to open in 2023. Legoland is also constructing three new parks: Sichuan (2023), Shanghai (2024) and Shenzhen.
Meanwhile, OCT’s Happy Valley in Xi’an is expected to open in 2022. The group’s first Fantasy Valley park is also expected to open this year and its next Visionpark is under construction in Zhaoqing.
Zhuhai Chimelong Marine Science Park is also opening in 2022. This will be the world’s biggest indoor park of its kind and will be home to the world’s largest aquarium tank. Chimelong is also planning a 300-hectare Animal Kingdom park in Da Hengqin mountain and has started construction on another animal park at the new Qingyuan Forest Resort.
Fantawild has many parks in differing stages of construction. Parks expected to open in 2022 include Fanta Park Road of Rejuvenation in Huai’an, Fantawild Animation Park in Taizhou, Fantawild Oriental Heritage in Zhengzhou, and Fantawild Dinosaur Park in Zigong. In 2023 and beyond others will follow, including parks in Xuzhou, Jinin, Yingtan, Shangqiu, Heze, and Kunming.
Other planned developments include a second Hello Kitty Park in Sanya, China. Sunac is still working on construction at the former Six Flags Haiyan, Zhongyuan and Zhejiang parks.
In addition to this, a Paramount park will be heading to Kunming and Nickelodeon Universe, an indoor park, is under construction at Mall of China in Chongqing. Uncertainty is currently surrounding the three Evergrande parks, including its most iconic park, Ocean Flower Island.
China leads Asia, and the world, when it comes to the growth of new attractions worldwide and, despite the pandemic, the country has many theme park projects in various stages of construction.
South-East Asia
Indonesia
In Indonesia, two large projects are on the way.
MNC Land has been planned for many years, as part of Lido City, covering 47 hectares. Recently, Legacy Entertainment announced more information on PIK 2 “The New Jakarta City”, a development of real estate and retail that will cover 2,650 hectares and include three signature, large-scale retail, dining and entertainment complexes, as well as shows and attractions.
Vietnam
Elsewhere in Asia, the two largest entertainment complex operators, Sun World and Vin Wonders, both have new theme park projects that they are planning to open in the next three years.
VinWonders will open a 50-hectare theme park, water park and safari in Hai Phong Hai Phong. Meanwhile, Sun World will open its signature multimedia show and iconic Kiss Bridge in Phu Quoc, as well as Sun World Sam Son. This will feature a water park, theme park and a retail, dining and entertainment area.
Other local real estate companies are also adding entertainment to their developments, like NovaWorld Phan Thiet and NovaWorld Ho Tram – Binh Chau, which will contain a mixed theme and water park. Another park, Dragon Ocean Do Son Water Park, will be coming to Hai Phong City.
Korea & Japan
Lotte’s Magic Forest and Legoland Korea will open in mid-2022. In Japan, the new Studio Ghibli theme park, in Japan’s Aichi Prefecture, will open in November 2022. A Paramount Park in Incheon Korea was also announced.
Middle East
In Qatar, Aquatar Water Park will open the largest water slide tower in the world. Meanwhile, in Oman, Hayy Al Sharq will be home to a 1.5 million square meter theme park.
Saudi Araba has multiple projects under construction, most notably Six Flags Qiddiya. This will be home to the world’s fastest, tallest, and longest roller coaster when it opens in 2023. Other projects, such as Cyan Water Park, are also under construction. In addition, there are some newly announced projects, like a theme park on a converted oil rig, called “The Rig”.
In the UAE, SeaWorld Abu Dhabi is currently under construction, opening in 2023.
Many new theme park projects in Asia’s future
With China leading in terms of new parks, and the Middle East launching multiple record-breaking new attractions, it is certainly worth monitoring new theme park projects opening in Asia.
The next few years will see a return to tourism in the wake of the pandemic. Many rapidly developing countries like Indonesia and Vietnam are now preparing to welcome international visitors with new parks.
