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Destination parks hit by recession
The annual Attractions Attendance Report has revealed that large destination parks have been hit harder by the recession than smaller, regional parks.
The report for 2008, compiled jointly by Economic Research Associates (ERA) and the Themed Entertainment Association (TEA), attributes the fall in attendances at resort parks to consumers' reluctance to spend money on travel.
John Robinett, senior vice president at ERA, said that parks that are reliant on people taking longer holidays to visit their sites were hit hardest.
"It is typical of destination parks to be impacted more by a recession than regional parks, because they are located farther away form their markets, and cost more to visit," he said.
Robinett also pointed out that the fall in visitor numbers was also seasonal.
"It should be noted that the negative growth didn't actually occur until the autumn.
"The regional pars were mostly closed by then while year-round destination parks were still open, so they took the fourth-quarter hit."
The report also revealed that while attendances at US and European parks are expected to shrink further during 2009, operators in the Asian market can expect growth in numbers.
Edward Shaw, senior associate at ERA, said: "Overall, the numbers and the economy are pointing to lower attendance in 2009.
"The decline looks as though it will last the majority of 2009 with some possibility of recovery by the end of the year, or early 2010."
Shaw added that the Asian market was a "bright spot" with growing economies, an expanding middle class and an offer which was very far from saturated.
According to the report, the Magic Kingdom at Walt Disney World in Florida, US, retained its position as the most visited park in the world, with more than 17 million guests during 2008, followed by the Disneyland resort in California.
The Disney group is the largest operator in the world by some distance, with 118 million people visiting its parks during 2008. UK-based Merlin Entertainments retained its position as the world's second largest operator with 35.2 million visitors, followed by Universal Studios (25.7 million), Six Flags (25.3 million), Parques Reunidos (24.9 million) and Busch Entertainment (23 million).
For the full report, visit www.econres.com.
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