Qatar Theme Park Market Outlook to 2021 - Development of Theme Park Resorts and Edutainment Centers to Foster Growth
LONDON, Aug. 31, 2017 /PRNewswire/ -- Executive Summary
The report titled "Qatar Theme Park Market Outlook to 2021 - Development of Theme Park Resorts and Edutainment Centers to Foster Growth" provides a comprehensive analysis of various amusement and water parks in the Qatar. The report covers aspects such as market size on the basis of revenue and segmentation by amusement and water parks and by revenue streams. In addition to this, the report also covers customer profile, emerging trends, market share and comparative landscape of major theme parks in Qatar. This report will help industry consultants, theme park operators, leisure and entertainment companies, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Qatar Theme Park Market Overview
Qatar's economy is primarily dependent on its natural resources of petroleum and natural gas, which accounts for approximately 60% of the country's GDP. However, Qatar has begun to diversify into allied sectors including leisure and entertainment, due to the rising tourism in the country. The revenue generated by theme parks in Qatar was estimated to incline to USD ~ million during 2016 from USD ~ million during 2014, registering a CAGR of ~% during the same period.
Highly innovative and unique theme park concepts catering to various target audiences have been one of the factors that have aided revenue growth during the review period.
Industry insight has indicated that majority of theme parks operators have developed rides that cater to children below the age of 18 years. The youth population in the country inclined from ~ thousand individuals during 2014 to ~ thousand individuals during 2016, resulting in increased theme park visitors during the same period. The growth of this market will continue in the future with increased theme parks opening to the public in 2017. In addition, government initiatives to further augment tourism will also impact revenue generated by the theme parks.
Qatar Theme Park Market Segmentation
By Type: The revenue generated by amusement parks in the country inclined to USD ~ million during 2016, achieving single digit growth during the review period. This segment has dominated the overall theme park market revenues as companies have found amusement parks to be a more lucrative investment compared to water parks. The revenues generated by water parks in the country were estimated at USD ~ thousand during 2016, contributing ~% to overall theme park market revenue during the same year.
By Revenue Streams: The revenue generated from entry ticket sales accounted for ~% of overall theme park market revenues during 2016. Admission fee to amusement and water parks in Qatar range from as low as QAR 30 (USD 8.2) to a high of QAR 150 (USD 41.2). The revenue generated from the sale of food and beverages within theme parks accounted for ~% of overall theme park market revenues during 2016. Restaurant owners have witnessed higher revenue generation during summers due to increased theme park visitors during this period.
Market Share of Major Theme Parks
Claimed to be one of the biggest family entertainment destination in Doha, Gondolania theme park accounted for ~% of overall theme park market revenues generated through admissions in the country during 2016.
City Center and Circus Land had accounted for ~% and ~% respectively, of overall theme park market revenues generated through admissions during 2016. Jungle Zone had recently undergone a complete renovation to bring in dedicated play areas for children of different age groups. Featuring unique rides and attractions, this popular family destination gained high demand in the market, providing park the respective share.
Future Outlook
The revenue generated by theme parks in Qatar is projected to incline to USD ~ million during 2021 from USD ~ million during 2016, registering a CAGR of ~% during the same period. The primary force that will drive the revenue of this market will be the establishment of creative and unique theme parks coupled with the growing tourism in the country during this period. Annual social and cultural events in Qatar including the International Food Festival and Summer Festival will aid the increasing inflow of tourists into the country. The total number of tourist coming into the country is estimated to incline to ~ million by 2021.
Amusement parks and water Parks are projected to witness a CAGR of ~% and ~% respectively, during the period 2016-2021. However, revenue generated from amusement parks will continue to dominate the theme park market during this period.
Key Topics Covered in the Report:
- Qatar Theme Park Market Size by Revenue
- Market Segmentation - By Type (Amusement and Water Park) and By Revenue Streams (Admissions, Food and Beverage, Merchandise and Others)
- Customer Profile of Qatar Theme Park Market
- SWOT Analysis for Qatar Theme Park Market
- Trends and Developments in Qatar Theme Park Market
- Market Share of Theme Parks
- Future Outlook for Qatar Theme Park Market
- Analyst Recommendation
- Macro-Economic Factors Impacting the Qatar Theme Park Market
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