From Legoland to Disney: how China is using theme parks to fuel consumer spending
Stagnant wages, job uncertainty and rising living costs have not stopped families from treating their children to feel-good outings, analysts say
As temperatures soared to a sweltering 39°C, thousands of families still lined up for the launch of China’s first Legoland resort, undeterred by the heatwave.
As the largest Legoland in the world, it adds to over 4,400 attractions and amusement facilities nationwide – a figure forecast to grow at an annual rate of 19 per cent over the next three years, according to IAAPA, the global association for the theme park industry.
“What we see is that one yuan of operating revenue has an economic impact of 3.8 yuan in the local economy,” said Jakob Wahl, CEO of IAAPA, during the IAAPA Expo Asia in Shanghai held on June 30-July 3.
“Attractions are a driver for the economy wherever they are.”