A water park is one among the foremost visited places when it involves leisure and entertainment. Ideally, a water park has attractions starting from Thrill rides to family slides to kids play area making it popular amongst people of all ages and walks of life. But a waterpark isn't just an area for fun but also makes for a really profitable business. Water Park is that the new idea of amusement now days. There’s great thing about Water Park is that, the park is made by using water sources within the plain to form an appropriate place for roadways or for creating falls or flora fountain or for boating and other light water ways cargo. Aim of formation of park to urge enjoyment from nature as well on make health care from it.
The global water parks market size was valued at USD 45.2 billion in 2017. It is likely to expand at a CAGR of 5.8% from 2018 to 2025. Innovative rides, accommodation facilities, and merchandise in water parks are gaining popularity among visitors of all age groups. As a result, there is a rise in the number of adults and children visiting water parks, thus expanding the size of the target audience. Water parks play a vital role in the global entertainment and leisure industry. These recreational facilities offer a wide variety of entertainment options and act as a one-stop-shop leisure and entertainment solution which flourishes as a key tourist attraction source for revenue generation. Therefore, it is majorly driven by the rising headcount of retired baby boomers, who are devoted to recreation and leisure spending. Additionally, the growing international tourism has been representing a lucrative consumer cluster for theme parks and marine parks.
Rising introduction of accommodation facilities such as hotels and resorts in park premises is one in every of the first factors stirring up the revenue generation through hotels/resorts. The segment is estimated to witness the very best CAGR of 7.0% during the forecast period. Furthermore, the food & beverage segment is additionally expected to rise at a big CAGR during an equivalent period since visitors spend a considerable amount on food and refreshments while taking an opportunity from rides. Entrepreneurs who invest in this project will be successful.