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. It is estimated that Qatar holds reserves of up to 15 billion barrels of oil and has the world’s third largest natural gas reserves. However, Qatar has begun to encourage private investment and 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 aided revenue growth during the review period.
A few theme parks including Jungle Zone in Hyatt Plaza have been renovated and re-launched to increase number of theme park visitors, improve safety standards and effectively cater to their desired target audience through technologically advanced rides and attractions. Qatar is following the UAE’s footsteps by introducing indoor theme parks that meet changing customer preferences.
Qatar Theme Park Market Segmentation
The revenues generated by amusement parks in the country inclined to USD ~ million during 2016, achieving single digit growth during the review period. Majority of amusement and theme parks in Qatar are equipped with a gaming zone in addition to mechanical rides and attractions. Amusement park operators have witnessed robust growth in visitor expenditure on their gaming arcade.
The growing potential for technical advancement of mechanical rides and attractions had incentivized amusement parks to renovate and upgrade, to meet changing preferences of theme park visitors.
The revenues generated by water parks in the country were estimated at USD ~ thousand during 2016, contributing ~% to overall theme park revenues during the same year. High maintenance and operating cost for water parks in Qatar had discouraged many players to foray into this segment. Additionally, limited number of water parks owing to rejection among residents to opt for water parks due to humid climate further restrains segment market.
Future Outlook For Qatar Theme Park Market
The revenue generated by theme parks in the Qatar is projected to augment to USD ~ million by 2021 from USD ~ during 2016, registering a CAGR of ~% during the same period. The primary force that will drive the revenues of this market will be the establishment of creative and unique theme parks coupled with the growing tourism in the country during this period.
Since majority of theme parks in the country mainly cater to children, the growing youth population in Qatar will be the primary force driving the number of theme park visitors during this period.
The revenue generated from amusement parks will continue dominate the theme park market with maximum visitors arising from the domestic territory.
Trends And Developments In Qatar Theme Park Market
Strategic Location of Theme Parks in Qatar: Theme parks in Qatar are developed in prime areas within malls, resorts and hotels in order to tap the tourist population visiting these places. KidzMondo Doha has been constructed in the Mall of Qatar. Similarly, Gondolania is located in Villaggio Mall while Jungle Zone and Circus Land Park are located in Hyatt Plaza and Landmark Shopping mall respectively. In addition to that locations of the entertainment centers like the centers located inside city center have been planned with strategic understanding that people who visit one of the Qatar’s largest shopping mall for shopping and dining automatically gets attracted towards family center. These family centers also welcomes large number of children as parents who visit mall for shopping leave their children in these parks for playing during their shopping time.
Key Factors Considered In The Report
Qatar Theme Park Market Size By Revenue
Market Size Theme Park
Market Segmentation – By Type (Amusement and Water Park), and By Revenue Streams (Admissions, Food and Beverage, Merchandise and Others)
Celebration Park in Qatar
Customer Profile of Qatar Theme Park Market
Upcoming Theme Parks in Qatar
SWOT Analysis for Qatar Theme Park Market
Ride Attractions in Theme Parks
Trends and Developments in Qatar Theme Park Market
Number Of Visitors Theme Park
Market Share of Major Amusement Parks
Middle East Water Park Industry
Future Outlook for the Qatar Theme Park Market
Family Entertainment Centre In Qatar
Market Share Theme Park Players
Macro-Economic Factors Impacting Qatar Theme Park Market
Best Theme Parks In Doha
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Ankur Gupta, Head Marketing & Communications