Amusement Parks and Centres Operation in Australia - Industry Market Research Report

Wild ride: Revenue to recover following reduced tourism due to the COVID-19 pandemic

The Amusement Parks and Centres Operation industry has struggled with repeated shocks to demand. Following the Dreamworld tragedy on the Gold Coast, QLD in October 2016, which led to the death of four people, key establishments in the industry, especially on the Gold Coast faced a downturn in visitors. The COVID-19 pandemic and related travel restrictions from March 2020 to February 2022 led to a sharp drop in domestic and international tourist activity. Visitor numbers at popular theme parks collapsed. Without sufficient turnover, most businesses in the industry struggled to cover their fixed costs and profit margins dropped across the board. Yet, revenue and demand soared in 2021-22 as restrictions on movement eased and pent-up demand fostered a strong industry-wide recovery. Overall, industry revenue is set to fall at an annualised 0.3% to $1.8 billion over the past five years. This includes an anticipated surge of 15.5% in 2022-23, as tourism gradually returns to pre-pandemic levels.

Amusement or theme parks offer attractions such as mechanical rides, water slides, games, shows and theme exhibits. They also lease venue space for other businesses to operate attractions or provide services (such as selling food) on a concession basis. Amusement arcades, centres or parlours are permanently located in the venues and offer many coin-operated games, such as pinball.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.