Amusement Parks Industry In India: A Short Overview

Amusement Parks in India

Amusement Parks In India

Amusements parks in India, which were once meant as a fun place for kids to spend their time, have now emerged as a billion dollar industry. Over the years, the industry of amusement parks in India has witnessed lots of variations; there was a time when Indira Gandhi promoted the Appu Ghar just as a fun zone for the poor kids who could enter the park free of cost and spend time their parents and other kids. And today, most of the amusement parks charge not less than Rs 1200 or so excluding the charges for the rides and theatre shows. Quite evidently, the amusement park industry in India has emerged as a great investment options.

Here are a few key points that will give you an overview of the amusement parks in India:

·         Initially amusement parks were meant for poor children with free entry and rides not more than 10 rupees.

·         Today it is a giant industry with Rs 1,800 crores generated in FY 2013 and by 2020 the revenue is expected to cross Rs 4,000 crores.

·         Retail sector in India is the main driving force behind the growth of amusement parks in India as an industry.

·         The sector is still in its nascent stage which is an indication of its huge growth potential.

·         Amusement parks in India attract both domestic and offshore clients to make investments.

·         Adlabs Imagica – India’s biggest amusement park is a perfect example of how the sector is flourishing as a lucrative investment option.

·         Even during a not-too-pleasant economic condition, the IAAPI has recorded a sharp 8 percent in FY 2013.

·         Introduction of new technologies including rides, gaming machines and simulators will spur growth in the industry.

·         State-of-the-art-infrastructure in India’s major cities has also resulted in increased demand for amusement parks in India.

·         The amusement parks in India are yet to receive a boost from the tourism sector.

·         A joint initiative by the private sector and the government to boost the amusement park industry in India can generate more revenues.

·         Today, Indian manufacturers are producing goods of international standards which is a great asset for the amusement park industry of the country.

·         Currently, there are about 150 players in the amusement parks industry in India which is quite less for a country with population more than 1.2 billion.

·          Today, tickets to theme parks in Indian metros cost nearly Rs 1200 and more while in the tier II and III cities, the price starts from Rs 350 per individual.

Conclusion

Foreign investors are frequently eyeing the amusement parks in India and many have already started promoting some of the major ones like the Wonderla in Bangalore. The fast-paced infrastructural developments across all major cities and metros are expected to further boost the identity of the industry as a great investment option. Some of the best amusement parks in India like the Wonderla Amusement Park, Bangalore, Ramoji Film City, Hyderabad, Wonderla Amusement Park, Kochi, Science City, Kolkata and Essel World in Mumbai are already listed among the top 20 amusement parks in Asia.

For more information on amusements parks in India, feel free to visit http://mergeralpha.com/.

Facts That Make Amusement Parks In India A Huge Investment Market

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These days, the weekends seem to be much-more fun-filled for the Indians as there are numerous amusement parks in India located across all the major cities offering one-stop destinations for food, fun and entertainment.

The amusement parks industry in India, mainly driven by the retail sector and the enhanced connectivity, has become a great investment option for both domestic and foreign investors. In November 2014, the UK-based Eros Investments Limited has expressed its interest in the amusement industry in the state of Andhra Pradesh currently governed by Chief Minister N Chandrababu Naidu. The company has already signed a memorandum of understanding to develop a mega entertainment city in India near Vizag.

If we compare it with that of US and UK, the amusements parks industry in India is quite new although it has already completed two decades. However, the industry has mainly bloomed during the last decade owing to the advent of globalization. Currently, the sector is witnessing fast-paced development with more number of amusement parks in India flowering across various cities.

Some of the best amusement parks in India include Wonderla (Bangalore), Adventure Island (Delhi), Essel World (Mumbai), Veegaland (Kochi), Ocean Park (Hyderabad), Nicco Park (Kolkata), Food and Fun Village (Delhi), Worlds Of Wonder (Noida) and many more located in Chennai, Kannur and other cities.

Something that has given a significant push to the development of amusement parks in India is the improved connectivity and transportation facility. Infrastructural developments across the major cities are bringing people closer to the entertainment hubs.

A prominent example is the development of the Delhi Noida Metro line that has brought the amusement parks in both the cities so much nearer. Be it the Worlds of Wonder in Noida or the Adventure Island in Delhi, reaching out to these places have become easier now leading to increased affinity among people for such places. Further, the development of Expressways have also reduced the travel time drastically and brought distant places closer.

Currently, there are nearly 120 amusement parks in India and 45 family entertainment hubs which is a quite an insufficient number for a country with a population of over 1.15 billion. However, this is a clear indication that there is huge growth potential in the amusement and theme parks sector in India. Among the various recreational facilities and amenities at the amusement parks in India, there are thrilling roller coasters, theme parks, theatres, giant wheels, fun-filled food joints and family restaurants and various other entertainment options.

The biggest demand drivers for the amusement park industry in India are the emerging middle class, increased disposable income, lifestyle and culture change and most importantly, the increased craze among people for a fun and leisure-filled lifestyle. Spending weekends at the amusement parks is becoming an increasingly popular practice among people and according to market experts, there are many more entertainment hubs to come up in the next few years and by 2020, the amusement parks in India is expected to be an industry worth Rs 10,000 crores.

So it is quite evident why investors from across the globe are increasingly getting attracted towards the industry. For more information on amusement parks in India, feel free to visit http://mergeralpha.com/.