Euromonitor International reported a double in market value on amusement parks and entertainment services from 2006 to 2012. The entertainment services industry is regulated by the Chinese Association of Amusement Parks and Attractions (CAAPA). The report estimates that theme park retail sales in China are estimate to reach $12billion by 2020. The World Travel Market Global Trend Report, anticipates that over 330 million people will visit a theme park in the “world’s second-largest economy.”
As disposable incomes grow in China, there will be an increase in middle-class consumers. China is behind the U.S. and Japan on amusement parks but may overtake the U.S. for the number one theme park ticket-seller by 2020.
Shanghai Disneyland opened in June 2016 but was outshined by Chinese conglomerate Dalian Wanda, which opened in Nanchang Wanda City, and was used as a “cultural tourism” destination with its own theme park a month prior. Competition will continue to grow for theme park space by local and international companies fighting for market share.
Wanda stated that “Disney really shouldn’t have come to China.” As China’s richest man announced on state television station CCTV in May “At Wanda I always say we want to ensure Disney is not profitable for 10 to 20 years in this business segment in China.”