Get ready to see more people spending more money at America's theme parks this summer. That's what the industry's leading trade association expects in to see in 2024.
The International Association of Amusement Parks and Attractions [IAAPA] said today that it expects to see an overall 2% increase in attendance at the theme parks and attractions it represents in the United States this summer. That would correspond to more than 300 million total visits for the year, IAAPA President and CEO Jakob Wahl said today in a press conference at SeaWorld Orlando.
"As the weather warms up, many people are thinking of the classic summer vacation," Wahl said. "We are seeing consumers shifting spending from material goods and instead investing in those trips - and memories - with family."
Wahl said that IAAPA members expect to see a cumulative 7% increase in consumer spending this year, as well. That would put projected total spending on U.S. attractions at more than $32 billion in 2024.
A focus on family attractions will help drive the expected attendance increase, Wahl said, citing new offerings such as the Good Gravy! family coaster at Indiana's Holiday World, the upcoming DreamWorks Land at Universal Studios Florida, and a new Peppa Pig theme park that will open in the Dallas area.
Other anticipated new or revamped attractions opening at U.S. theme parks this summer include Tiana's Bayou Adventure at Walt Disney World's Magic Kingdom, Penguin Trek at SeaWorld Orlando, Camp Snoopy at Kings Island and Knott's Berry Farm, and Phoenix Rising at Busch Gardens Tampa. For a list of more upcoming attractions at parks around the world, please visit our theme park rides under construction page.
Finally, please tell us if you share IAAPA's optimism about the theme park industry in 2024.
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I just don't get the thought behind this analysis. Based on all indicators, guests are pulling back their spending, and while there's still an aspect of "revenge" travel to the current trends, everything I've read seems to indicate people who are spending more on travel are doing so for unique, exotic experiences. While I'm sure those who may have traveled hard last year are more likely to travel domestically in 2024, my guess is that those travelers are going to be more careful with their spending. If they didn't go to a major theme park over the past 3-5 years, they're probably going to be shocked at how much taking a theme park vacation costs now, and will either suck it up and go with the flow, or find whatever ways they can to save some money. To me, I see spending on domestic theme parks to be flat or maybe slightly decline in 2024, and if there is an increase, it's mostly because of increases in prices, not because guests are spending more freely in theme parks.
Due to inflation (and the ridiculous cost of homeowner's insurance here in Florida), most people I know are cutting back on discretionary spending and that probably includes "investing in those trips - and memories - with family."
Sounds like Mr. Wahl is whistling past the graveyard.
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I'm definitely going to be spending far less on theme parks this year than I have the past couple. I've cut back from having four active APs to just two for 2024 (dropped SeaWorld and USH, kept Knott's and Six Flags), will be doing only one out of state theme park trip this year instead of two, and won't be leaving North America like I have the past couple years. My main reason for this is simply the lack of enough compelling investment to justify visits. When the biggest parks in the US I haven't visited yet are the boardwalk parks of the East Coast I know I'm far from the average visitor, but it still doesn't change the fact that only one or two parks are getting travel-worthy additions each year these days. With Florida being off the table for reasons and few other domestic parks being worthy of a return visit without a new headlining attraction, I'd rather save my money to go international every other year or so than spend it on fourth visits to parks inferior to what I've got at home.
But do I share IAAPA's optimism in a general sense? Kind of. I don't think increased spending on family attractions is going to drive a lot of people to plan trips around parks as the cost of everything has grown so much it's just not viable for many full families to do big trips right now. However, I do think they might encourage more visitation from locals in the vicinity of those properties, which is probably just as helpful for those not located near large tourist attractions.