Only 10% theme parks in China make a profit

Updated 2016-12-28 16:40:54 CRIENGLISH.com

2016 has seen theme park industry in China grow in leaps and bounds, with Disneyland launching an outlet in Shanghai, and domestic brands such as Happy Valley and Fantawild Adventure expanding across into new regions.

According to the 2016 report on Chinese theme parks, of the 2,700 theme parks in the country, only 10% are reportedly making profits. 70% are said to be in the red, with the rest at break-even point.

Dai Bin, president of China Tourism Academy, says most indigenous Chinese theme parks are unable to meet public demand in design, operation, and maintenance, and are in particular lacking cultural creativity.

"Theme parks in the past were no more than a landscape show. Now they have become amusement parks as the second generation, which still don't have an attractive theme and a story or logic thread to link up all elements. Theme parks don't mean you display a dinosaur statue or a Ultraman. They should be alive and interactive with visitors. People come to pursue inner values and feelings," said Dai.

Industry experts observe that many theme parks mainly rely on ticket sales for their profit, providing a flimsy business, and leaving little left over to invest in new recreational facilities to attract repeat visitors.

Dai Bin said many parks opened are used simply to attract prospective investors to local property developments. The parks soon stop operating once the surrounding land begins to make a profit. By then, the theme parks have done their job.

Business insiders have called for the authorities to stop granting licenses for new parks for the sake of the industry.

The theme park report says 64 new parks were expected to be established between 2015 to 2020, with a total investment of about 24 billion U.S. dollars.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58June 24 2017 04:33:55

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16June 24 2017 04:33:55

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18June 24 2017 04:33:55

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords