Construction

UAE theme park revenues to hit $837m by 2019 – Euromonitor

By Jerusha Sequeira

Posted on September 13, 2015

Revenues set to increase by 78% over the next four years, according to report

PHOTO: The UAE has various theme parks under development, including the IMG Worlds of Adventure, the Warner Bros park in Abu Dhabi and the Dubai Parks and Resorts project. Credit: Shutterstock

Theme park revenues in the UAE are set to increase by 78% to $837 million by 2019, according to a report by research firm Euromonitor International.

The UAE currently has five theme parks under development: the IMG Worlds of Adventure, set to open in 2016; the Warner Bros park in Abu Dhabi, expected to be complete in 2018; and the three parks that are part of the $2.9 billion Dubai Parks and Resorts project, slated for opening next year.

Although no Middle East venue appeared in the top 25 amusement parks in the world in consultancy AECOM’s 2013 Theme Park Index, experts predict that this will change.

“Globally, theme parks in Europe, the Far East and the USA, Orlando in particular, dominate the market. However, theme parks in the UAE have the potential to see over 18 million visits by 2021, versus Hong Kong’s 15 million,” said Philip Shepherd, Middle East Hospitality and Leisure Leader at PwC.

“With its central global location, and excellent hospitality facilities, we predict the UAE has the potential to become a serious rival to theme park world leader Orlando by 2021.”

Previously, PwC noted in a report that the UAE already rivals Orlando in the scale of its transport links, lodging and food and beverage sectors. For instance, Dubai International Airport was the world’s busiest last year with 70 million international passengers annually, while the Orlando airport sees 36 million per year. The UAE’s supply of hotel rooms stood at 100,000 in 2014, while Orlando’s was 120,000.

The UAE is also seeing the construction of other leisure projects beyond theme parks, said Phil Taylor, managing director of Dubai-based Team Leisure LLC. These include two safari parks, the three upcoming museums on Abu Dhabi’s Saadiyat Island (Louvre Abu Dhabi, Guggenheim Abu Dhabi, and Zayed National Museum) as well as the world’s longest indoor ski slope, to be part of the record-breaking Meydan One project.

“This is arguably the most leisure development currently underway in one location in the world and is a huge undertaking. But if anywhere in the world has the resources, vision and power to pull it off, I believe it is the UAE,” Taylor said.