The proposed project presents an investment opportunity in setting up an Amusement Resort “Amusement City”. The main objective is to introduce and launch a unique project model on pan India basis, focused on promoting tourism and entertainment options for all in order to provide customers a quality, family-oriented amusement resort while giving a pleasant, safe and enjoyable entertainment facility. These amusement resorts will be the perfect weekend and even day gateway for all age groups as they have been divided into various verticals and these verticals will parallel sources of revenue which have explained in detail in the report.
SCOPE OF AMUSEMENT AND ADVENTURE SPORTS
- India is emerging as one of the most popular amusement and adventure sports destination in the world.
- The endless scope of amusement and adventure tourism in India is largely because of its diverse topography and climate.
- With so much diversity in the terrains across the country, it comes as no surprise that India has a lot of scope for amusement and adventure sports.
- This is why amusement and adventure seekers from all over the world come over to enjoy an adrenaline rush like no other.
- Tourists usually travel around the country to explore its various attractions or for religious pilgrimages. But there are just a few who actually hunt down the places where they can indulge in amusement and adventure sports activities.
- Business tour combined with active sports are becoming highly popular where business meets leisure. Business tours with such kind of sports tourism is a global corporate strategy for employee entertainment and well being.
- Amusement Parks are recreational facilities that offer a varied range of entertainment options ranging from theme parks to spine chilling roller coaster, 5D/7D theater to giant wheel and many more entertainment activities in a cluster format.
- The demand for entertainment options such as amusement parks, I-max, shopping malls are rapidly increasing across the Country. The key demand drivers for the segments are rising base of middle class, increasing disposable income, changing lifestyle, cultural shift and increasing emphasis to lead a holistic life with a balance of work and leisure.
- Growing retail market.
- The high growth potential of the industry in highly populated India will boost tourism, social infrastructural development as well as employment generation.
- The Indian gaming market is on the path of maturity, income levels are rising and people want to have a fun life.
- The foreign companies reportedly interested in the Indian amusement parks market include Universal Studios, Time Warner and Disney.
- The success and growth potential of this industry is resulting into the advent of new manufacturers of amusement parks’ rides in India. Today, Indian manufacturers can produce international standard quality products at a competitive price for both the domestic and the global market.
- Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs.
- Amusement parks have not received their due recognition yet for their enormous potential as an infrastructural facility for tourism.
- The amusement industry worldwide is a very significant part of the tourism effort.
- Recreation Industry is currently one of the most exciting sectors in India. The current market for leisure is estimated to cross USD 1 bn in next few years.
- The leisure industry mainly consist of amusement park, malls family entertainment centers (FECs) and multiplexes.
- The present consumer base is estimated around 30 million people.
- At present there are around 200 FECs in the Country and the number is expected to grow to 400 in the next couple of years.
- Amusement parks contribute nearly 40% of the total leisure industry turnover.
- Through the years though there is a healthy growth.
- Recreation Industry is currently one of the most exciting sectors in India.
- Growth of India’s retail sector had been the main driving force for the amusement industry in India.
- Private equity funds are also aggressively dedicating resources towards this sector.
- The Indian small and big players in the Amusement Industry are looking at the tremendous growth potential of this industry in the next 5 years.
- Globally, domestic and international tourists comprise more than 50% of the total footfall at popular amusement parks.
- Given the surge in India’s youth and increasing spending power , the family entertainment and amusement sector of the India economy holds out promise for investors, both domestic and foreign.
- In 2001, this industry incorporated an investment of Rs. 1,000 crore (1 crore = 10 million).
- Between 2001-04, the industry grew three-fold in terms of both number of parks and total investment intake.
- However, as at the start of 2001, there were no rules specific to the development of amusement parks. Businesses wanting to enter this sector had to get as many as 19 renewable no-objection certificates annually.
- There is no legally defined requirement of area for amusement parks in India. But, the general norm is that a population centre of six million people can be served with an a park covering an area of 40-60 acres
- According to the Indian Association of Amusement Parks and Industries, a park can be profitable if revenues from gate collections and other sources (such as food, toy memorabilia sales) reach a 50:50 ratio. However, in Essel World and Water Kingdom in Mumbai, the ratio still stands at 70:30 in favor of gate collections.
- The amusement industry in India is at a growing stage currently with more and more developments happening in this industry all across the country.
- The size of the Indian Amusement and leisure industry is estimated to be around Rs 4000 crores and is estimated to grow by 10% percent per annum till 2010
- A recent market survey research shows that this industry in India is growing at a rapid pace and over 120 amusement parks and water parks are currently in operation in India. Out of them only 15% can be classified in the “large parks” category, 30% as medium size parks and balance 55% are small size local parks.
- In terms of employment generation, the new parks are likely to create jobs for six crore man-hours per month.
- It is estimated that the total capital investment made in the amusement and theme park industry in India till date, is more than INR 40 billion (excluding investment on land).
The estimated annual revenue generated by this industry is approx INR 20 billion, at present, which is expected to grow to almost three times by the year 2020 at a CAGR of over 11%.
TARGET MARKET / CUSTOMER BASE
There is a surge in India’s middle class and increasing disposable incomes, the family entertainment and amusement sector of the Indian economy. The leisure market has a current consumer size of 30 million people and is growing at a rate of 10-12 percent per annum. The developments planned now are incorporating an element of fun and avenues where the whole family can spend time together. With increasing disposable income and with surplus time for recreation, Indians are spending more on amusement activities. Indians are now traveling abroad with increasing frequency and experiencing quality entertainment and leisure facilities there. The focus has to be on incorporating such facilities in India.
The target market will include:
- Children and teenagers
- Domestic Tourists
- Foreign Tourists
- Day Travelers
- Business & corporate customers
- Institutional & school groups
The demographics, age and income characteristics of the guests, follow attraction mix, and vice versa. All age groups, and includes both male and female.
For Further Investment & Project Related Query
Contact Us : 08010833338 | +0124-4155555
Email : email@example.com