China’s theme parks are bouncing back to pre-pandemic growth as pent-up travel demand sparks tourism boom, says Fitch

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During the five-day May Day holiday last week, long queues and crowds were seen at the country’s theme parks, amid a tourism recovery after Beijing abandoned its tough pandemic restrictions

Tickets for both Shanghai Disneyland and Universal Studios Beijing almost sold out ahead of the ‘golden week’ holiday

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A tourist takes a selfie with Mickey Mouse and Minnie Mouse at Shanghai Disneyland. Photo: VCG

Elise Makin BeijingandPearl Liuin Hong Kong

Published: 6:34pm, 8 May 2023Updated: 6:42pm, 8 May 2023

China’s theme park industry will resume strong growth and sustain recovery momentum this year thanks to a post-Covid tourism boom, analysts at Fitch Ratings said.

During the five-day May Day holiday last week, long queues and crowds were seen at the country’s theme parks, a sign they have become “early beneficiaries” of a tourism recovery after Beijing abandoned its tough pandemic restrictions.

Tickets for both Shanghai Disneyland and Universal Studios Beijing almost sold out ahead of the holiday. Some 92,000 visitors arrived at Atlantis Sanya, a water park in southern Hainan Province during the so-called golden week, more than four times the number in the same period last year, according to data from Chinese conglomerate Fosun International.

The theme park industry is expected to “regain the strong pre-pandemic growth in 2023” thanks to the release of pent-up leisure travel demand, said Flora Zhu, director of corporate ratings at Fitch.

“We are also optimistic about the industry’s long-term growth prospects,” she said, citing strong demand, and growth in customer spending in China.

Haichang Ocean Park, Asia’s largest water park operator, said the “booming” tourism market had boosted its average daily admissions by 105 per cent during the May Day holiday from the same period in 2019, before the coronavirus emerged. Compared to 2022, when pandemic curbs were at their height, attendance and revenue soared nearly sixfold and eightfold, respectively.