Amusements parks in India, which were once meant as a fun place for kids to spend their time, have now emerged as a billion dollar industry. Over the years, the industry of amusement parks in India has witnessed lots of variations; there was a time when Indira Gandhi promoted the Appu Ghar just as a fun zone for the poor kids who could enter the park free of cost and spend time their parents and other kids. And today, most of the amusement parks charge not less than Rs 1200 or so excluding the charges for the rides and theater shows. Quite evidently, the amusement park industry in India has emerged as a great investment options.
Here are a few key points that will give you an overview of the amusement parks in India:
· Initially amusement parks were meant for poor children with free entry and rides not more than 10 rupees.
· Today it is a giant industry with Rs 1,800 crores generated in FY 2013 and by 2020 the revenue is expected to cross Rs 4,000 crores.
· Retail sector in India is the main driving force behind the growth of amusement parks in India as an industry.
· The sector is still in its nascent stage which is an indication of its huge growth potential.
· Amusement parks in India attract both domestic and offshore clients to make investments.
· Adlabs Imagica – India’s biggest amusement park is a perfect example of how the sector is flourishing as a lucrative investment option.
· Even during a not-too-pleasant economic condition, the IAAPI has recorded a sharp 8 percent in FY 2013.
· Introduction of new technologies including rides, gaming machines and simulators will spur growth in the industry.
· State-of-the-art-infrastructure in India’s major cities has also resulted in increased demand for amusement parks in India.
· The amusement parks in India are yet to receive a boost from the tourism sector.
· A joint initiative by the private sector and the government to boost the amusement park industry in India can generate more revenues.
· Today, Indian manufacturers are producing goods of international standards which is a great asset for the amusement park industry of the country.
· Currently, there are about 150 players in the amusement parks industry in India which is quite less for a country with population more than 1.2 billion.
· Today, tickets to theme parks in Indian metros cost nearly Rs 1200 and more while in the tier II and III cities, the price starts from Rs 350 per individual.
Foreign investors are frequently eyeing the amusement parks in India and many have already started promoting some of the major ones like the Wonderla in Bangalore. The fast-paced infrastructural developments across all major cities and metros are expected to further boost the identity of the industry as a great investment option. Some of the best amusement parks in India like the Wonderla Amusement Park, Bangalore, Ramoji Film City, Hyderabad, Wonderla Amusement Park, Kochi, Science City, Kolkata and Essel World in Mumbai are already listed among the top 20 amusement parks in Asia.
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