Question

Is there a collusive behavior in the amusement and theme parks industry?

Answer 1

Answer:

There is a primary difference between a theme park and an amusement park. While amusement parks are a place of entertaining rides and attractions, a theme park comprises elements which are designed around a unified 'theme'. The concept of theme park and amusement parks has seen drastic growth in India only in the past two decades, with dawn of globalisation and boost in the rising disposable income for consumers. Globally, in the year gone by, Asia's attendance in theme parks swelled by 5.5%, which was majorly contributed by recently launched Shanghai Disneyland.

Theme Park and Amusement Park industry play a major role in tourism boost in the area as well. This has been identified internationally, wherein theme parks enjoy strong regulatory support, with governments putting up dedicated infrastructure for connectivity, equity and tax subsidies. Most enjoy single-digit taxation. This in turn helps the industry to develop its potential to enhance the consumer experiences for even better output.

There is much more hope from the industry. The Indian theme park and amusement park sector sees a strong potential in growing as a sector, that contributes significantly to local economy as well as tourism while giving new avenues of entertainment of International standards to Indians right here in India. With significant regulatory support to attain this potential, tomorrow definitely seems a better day for the industry.