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, reports the South China Morning Post. 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.
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