Industry competition among theme parks has expanded beyond similar brands to compass the wider immersive experience providers. The industry as a whole faces rising customer acquisition costs and declining revenue margins. Visitors remain willing to pay for high-quality experiences but make their decisions more intentionally. Success depends not only on being chosen in consumers’ travel planning, but on engaging the right demographics across acquisition, experience and repeat visit to build a differentiated advantage.
Tina Cheng, Research Analyst
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EXECUTIVE SUMMARY
- Key issues in this Report
- Definitions
- What you need to know
- Market size and forecast
- Market overview
- Competitive landscape
- Consumer insights and opportunities
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THE MARKET
- Market size and forecast
- Theme parks have been in a stable growth trajectory in visitor traffic since 2024
- Graph 1: theme park visitor volume, 2019-25
- The broader travel and trips market outperforms theme parks, which now face competition from emerging leisure formats
- Graph 2: proportion of theme park visits in total domestic trips (%), 2019-25
- Themed design for everything: themed cultural and tourism experiences are diverting theme park visitor footfall
- Local governments continue to develop theme parks, with the industrial driving effect becoming evident
- Theme parks market forecast for 2026-30
- Graph 3: theme park visitor volume and best- and worst-case forecast, 2020-30
- Graph 4: theme park total revenue and best- and worst-case forecast, 2020-30
- New theme parks will still bring incremental growth, but success or failure will depend more on content utilisation and the ability to flexibly implement technologies
- Competitive landscape
- Top players’ market share
- Revenues are under pressure, and the gap in strength and operational capabilities widens, polarising performance among brands
- The industry places more emphasis on rapid launches and quick results: revitalising existing assets and asset-light collaboration are the two main paths
- Differentiating the brand through cross‑category IP collaborations that give consumers a reason to visit
- Take a break from the thrill: low‑stamina, story‑focused experiences to cater to audiences of all ages and maintain appeal throughout the year
- Technology is becoming a new battleground, where visible hard power must be matched by deeper insight into travellers’ individual needs
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CONSUMER INSIGHTS
- Consumer insight overview
- Overview of key issues in theme parks
- In a world defined by uncertainties, theme parks offer a definite immersive escape, making them one of the most favoured holiday themes among consumers…
- Graph 5: holiday themes of interest, 2025
- …rendering them a form of holiday enjoyment with mass appeal in China
- Graph 6: living situation, 2022-25
- Graph 7: holiday themes of interest (theme parks), by age, 2025
- Theme parks are reaching a broader audience; leading brands increase their penetration
- Graph 8: theme park brand penetration rates, 2023-25
- The theme park market in Tier 1 cities is now mature, with fewer opportunities to attract new customers and higher costs to do so
- Graph 9: theme park brand penetration in Tier 1 cities, 2024-25
- Penetration rates in Tier 2 and 3 cities have increased, with increments driven by travel consumption
- Graph 10: theme park brand penetration rates in Tier 2, 3 or lower cities, 2024-25
- Tier 2 and 3 city customers are more likely to travel specifically for top-tier amusement parks; manageable distances and worry-free itineraries are at play
- Most theme parks remain once-a-year holiday destinations
- Graph 11: theme park brand penetration rates (international brands), by city tier, 2025
- Domestic theme park chains, with their regional coverage and pricing advantages, are more likely to encourage stable repeat visits
- Graph 12: theme park brand penetration rates (domestic brands), by city tier, 2025
- Customer acquisition: strengthen the reasons for visiting by using unique projects and city synergy
- Travel decisions are increasingly driven by personal interests, and themed environments are more effective at prompting trips
- Themed design for everything: theme parks are facing competition from various thematic commercial formats
- Theme parks with attractive IPs and good transport links are more likely to become must-do items on consumers’ itineraries
- Graph 13: factors driving theme park visits, 2025
- Affinity with the IPs, signature attractions and photo-ready scenes are the most influential decision levers
- City collaboration promotes brand awareness, serving as a driving force for theme parks to be selected in travel plans
- Local visitors’ travel decisions are relatively dependent on new seasonal events
- Graph 14: factors driving theme park visits (influence weighted index), by travel destination, 2025
- For intercity travel, theme parks need to possess regional characteristics and fit easily into itineraries
- Graph 15: theme park visit driving factors (coverage breadth and impact depth), trip to another domestic city, 2025
- ‘To go or not to go’ hinges on attractiveness and transport working together to turn wanting into going
- Customer acquisition needs a layered approach: younger consumers are more open to cultural novelties, while older consumers prefer a natural, soothing atmosphere
- Graph 16: appealing attributes of theme parks, 2025
- Develop theme parks like video games: by incorporating game mechanics and interactions with performers, turn festival events into time-limited playgrounds for younger people
- Experience: build immersive moments along the visit journey and deliver strong interactive products
- Revenues are under pressure, and the gap in strength and operational capabilities widens, polarising performance among brands
- Revenue polarisation does not equate to consumption downgrade; the key lies in whether the experience provided is ‘worth it’
- Graph 17: interest in paid theme park services/experiences (number selected, proportion of consumers), 2025
- Graph 18: theme park length of visit, 2024
- Content and conversion capabilities determine revenue performance tier, as visitors are willing to pay but prioritise immersive experiences
- Immersive experiences lead spending decisions, followed by visit efficiency and then personalised memories
- Graph 19: paid theme park services/experiences of interest, 2025
- Fans of character interaction and emotional release often have higher spending potential
- Graph 20: theme park services/experiences willing to spend money on (number selected), by needs satisfied by theme parks, 2025
- Visitors who anticipate character interactions are willing to pay for guaranteed, closer encounters with characters
- Graph 21: interest in paid theme park services/experiences, by needs satisfied by theme parks, 2025
- High‑impact theme‑park character playbook: let visitors enter the story, take on a role, choose how they join in, receive performer responses and leave with unique memories
- Allow visitors to shape the scene, engage at their own pace and take home personalised souvenirs
- Domestic theme park hotels must break the bottleneck of IP leverage for premium margins
- The main appeal of theme park hotels for the general audience is extending the park ambience
- Graph 22: appealing features of theme park hotels, 2025
- Enhance the appeal of theme park hotels with themed ambience and functional experiences
- Graph 23: top five hotel non-room services/facilities willing to pay for, 2024
- High-income customers are more focused on the scarcity of time and exclusive experiences
- Graph 24: interest in theme park hotel experiences/services, by household income, 2025
- Emphasise daytime energy consumption in the park and evening close interactions with IP characters at the hotel
- Turn hotel accommodation into a game stage and increase conversion with a task-reward-share loop
- Graph 25: appealing features of theme park hotels, by entertainment needs, 2025
- Interactive activities during off‑peak hours like mornings and evenings improve the guest experience by offering personalised, low‑effort interactions at hotels
- Repeat visits: revamp classic projects and create festival cultural experiences to reliably trigger repeat visits
- Destination changes are the norm, and theme parks can promote repeat visits with no-nonsense entertainment options
- Graph 26: revisit intentions for holiday destinations and theme parks, 2025
- Immersion in themes is why people choose theme parks, while stress relief and interpersonal connections are the key rewards of repeated visits
- Graph 27: needs satisfied by theme parks, 2025
- Visit rates are on the rise: high‑frequency visitors who go to theme parks four times or more a year are making theme parks part of everyday leisure
- Graph 28: number of visits to any theme park in the past 12 months, 2023-26
- Tier 1 city customer groups are more likely to revisit, driven by their search for emotional outlets, fresh experiences and social companionship
- Graph 29: needs satisfied by theme parks, by city tier and number of visits to theme parks, 2025
- LEGOLAND Shanghai Resort uses limited-edition annual pass conversion as a selling point, coupled with frequent monthly updates, to encourage Tier 1 city visitors to come again
- Graph 30: number of visits by Tier 1 city visitors to international theme parks (1 time vs 2 times or more), 2025
- As the number of visits increases, repeat visits are constrained by the diminishing sense of novelty
- As the frequency of visits increases, the intention to return to a park is constrained by the diminishing effects of stress relief and freshness
- Graph 31: needs satisfied by theme parks, by the number of times visited for any park, 2026
- Revisits are not infinite: a park’s trademark culture fuels the willingness to return, while new activities give them the reason
- Graph 32: drivers for repeat visit, by type of destination, 2025
- Trump card attractions support repeat visits: provide reasons to return with new narratives and limited-time experiences
- Revisiting is often triggered by the need to create new experiences together with a different companion
- Lifestage shapes repeat visits: child‑free younger people prioritise photogenic, challenging experiences, while families with children value parent–child bonding and personal growth from cultural adventure and novelty
- Graph 33: demands met by theme parks, by lifestage, 2025
- Younger people’s repeat visits are more about individualised creativity and shareable results over standardised photography services
- Localisation and innovation of theme parks is a bonus, provided they are distinctive and interactive
- The integration of traditional culture can boost repeat visit rates for a theme park, but it must bring new surprises and be closely aligned with contemporary life
- Graph 34: expectations around new local cultural experiences, 2025
- Regional festivals act as gateways to local culture, and visitors want to join in rather than simply watch
- Localisation initiatives are a bonus for international brands, but getting the local aesthetics and experience preferences right is crucial
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WHAT WE THINK
- What we think
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APPENDIX – MARKET SIZE AND FORECAST, METHODOLOGY, ABBREVIATIONS AND OTHER DATA
- Market size and forecast
- Methodology
- Research methodology TURF
- Qualitative research interviewees
- Abbreviations
- China: theme park penetration rate (visited once only), 2025
- Graph 35: theme park penetration rate (visited once only), 2023-25
- China: theme park penetration rate (visited twice or more), 2025
- Graph 36: theme park penetration rate (visited twice or more), 2023-25
- China: drivers for theme park visits by local residents, by respondent’s region of residence, 2025
- Graph 37: drivers for theme park visits by local residents, by respondent’s region of residence, 2025
- China: number of visits to any theme park, by city tier, 2026
- Graph 38: number of visits to any theme park in the past 12 months, by city tier, 2026
- Expectations around new local cultural experiences – Shanghai Disney Resort: premium aesthetics and social‑sharing value
- Expectations around new local cultural experiences – Universal Studios Beijing: stories or experiences that resonate with modern life and offer strong interactivity
- Expectations around new local cultural experiences – LEGOLAND Shanghai Resort: close to modern life, co-created with cultural stakeholders and highly interactive
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