Dublin, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The "Amusement & Theme Parks in the UK - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
Over the five years through 2024-25, Industry revenue has grown at a CAGR of 1.1 %, to reach an estimated £1.2bn in 2024.
Amusement and theme parks saw their revenue contract significantly in 2020-21 due to COVID-19 disruptions, resulting in the forced closure of parks across the UK. Visitor numbers plummeted, especially for Merlin Entertainments due to its reliance on international visitors. Revenue has slowly bounced back after parks were allowed to fully reopen in early 2021-22. However, recovery has been limited by cost-of-living pressures, which is seeing people keep a closer eye on their discretionary spending due to heightened inflation.
Industry Overview
COVID-19 disruptions slash amusement and theme park revenue The periodic COVID-19-induced closures of amusement and theme parks from March 2020 to the summer of 2021 decimated revenue. Merlin Entertainments, the UK's largest amusement and theme park company, was the most affected due to its popularity with international visitors.
Trends and Insights
- Cost of living pressures dampen in-park spending.
- With escalating inflation, parks face higher expenses, leading to increased ticket prices. Some consumers with weakened disposable incomes are tightening their purse strings and avoiding these high-cost purchases. Admissions, rides and games account for the majority of revenue.
- Amusement and theme parks often charge customers once they've entered the park for additional entertainment, such as arcade games. The South West holds a large number of parks.
- The region's popularity as a domestic holiday destination, particularly the counties of Cornwall, Devon, Somerset and Dorset, has led many amusement and theme parks to base themselves there. Parks need exciting rides and attractions if they want to succeed.
- Amusement and theme park goers will travel to visit parks that offer new and unique rides. Successful parks pour funds into new rides so they can compete.
- A growing number of international visitors will ramp up park admission
- A hike in both domestic tourism and the number of international visitors, (particularly from France, Germany and the US) is set to drive up amusement and theme park revenue in the coming years.
Key Topics Covered:
About this Industry
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
Industry at a Glance
Industry Performance
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
Products & Markets
- Supply Chain
- Products & Services
- Major Markets
- Globalisation & Trade
- Business Locations
Competitive Landscape
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Barriers to Entry
Major Companies
- Merlin Entertainments Ltd
Operating Conditions
- Capital Intensity
Key Statistics
- Industry Data
- Annual Change
- Key Ratios
Jargon & Glossary
For more information about this report visit https://www.researchandmarkets.com/r/xlktqw
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