Theme and funfair parks to come up in AP
By Our Corporate Bureau | 27 Jan 2004
Andhra Pradesh will soon boast a number of family entertainment centres and theme parks set up at an investment of around Rs 400 crore. These are expected to come up in the state in the next 2-3 years.
Balwant Chawla, president of Indian Association of Amusement Parks and Industries (IAAPI), announced this at a press conference in Hyderabad. Speaking on the occasion, K Srinivas Gupta, chairman of AP chapter of IAAPI said the entertainment and theme parks industry was expected to grow at between 30-40 per cent in the coming years. Water parks, with an extremely high customer response, especially from children, are seen as having a high potential and major cities are expected to witness high investments in them.
Mr Chawla said over 200 amusement parks, 100 theme parks and 200 family entertainment centres, with a total investment of Rs 3,000 crore, are currently in operation in India. These have an annual turnover of about Rs 500 crore. With the doubling of investments in the entertainment industry in the next three years another 500 water parks, theme parks, multiplexes, and family-based entertainment centres are expected to become operational by 2010.
About 5 crore people visit theme parks annually. The entertainment industry provides four times the employment provided by other sectors with the same level of investment.
IAAPI will hold a three-day trade show in Mumbai from March 11, 2004, to provide support and guidance to various participants in the amusement industry, including prospective operators, in which over 100 exhibitors including amusement park operators from abroad are expected to participate.
