China's Theme Park 'Happiness Business' Expected to Skyrocket Amid Growing Consumer Demand

China's theme park industry is experiencing rapid transformation, entering what many analysts call a “golden era” of growth. Fueled by increasing domestic demand and robust investment from both Chinese companies and international conglomerates, the sector is poised for substantial expansion in the coming years.

Enthusiasm for new entertainment options was on full display when Legoland Shanghai Resort’s mini-program crashed due to a surge in online visitors just a day before the official announcement of its July 5 opening. The overwhelming response underscores the immense appetite for what is often dubbed the “happiness business,” as millions of families look for fresh leisure experiences within China’s borders.

In 2023, the economic output from China's amusement park sector approached 60 billion yuan. Industry forecasts anticipate this number will nearly double, exceeding 110 billion yuan by 2028. These figures further cement China’s position as one of the world’s top destinations for theme park investment, attracting attention from established global players and homegrown innovators alike.

International giants are expanding at full speed. Shanghai Disneyland has announced plans for its inaugural Marvel-themed attraction and is currently constructing a third themed hotel. Meanwhile, Hong Kong Disneyland is set to broaden its Marvel universe and launch new Pixar-themed entertainment offerings. Universal Beijing Resort is preparing for its next phase of development, and the construction pace at Legoland Shenzhen continues to accelerate. Looking ahead, the world’s largest Peppa Pig outdoor park is scheduled to debut in Shanghai in 2027, accompanied by the highly anticipated Harry Potter Studio Tour, also arriving the same year.

Domestic operators are not standing still. Fantawild, already a leading brand in China, opened nine new parks within just eight months last year. Pop Mart, known for its collectible toys, is revamping two-thirds of its City Park in Beijing and is gearing up for its second phase. Across the country, more than 50 new parks are in various stages of planning or construction, embracing themes ranging from blockbuster cinema and popular gaming to winter sports, marine exploration, natural forests, and water attractions.

Despite the flurry of activity, there remains substantial room for growth. As of September 2023, theme park market penetration in China was just 27 percent, far below the 68 percent average seen across developed countries. This gap points to a vast untapped market. Analysts predict a compound annual growth rate of over 7 percent for the industry over the next five years, with many urban centers aiming to transform their local parks into distinctive cultural and tourism landmarks.

The influence of these sprawling resorts extends well beyond entertainment. Theme parks are becoming powerful engines of regional economic development. They generate significant employment opportunities, attract related businesses, and enhance the overall competitiveness of their host cities in the global tourism market. As highlighted by industry leaders, China offers a conducive business environment, allowing innovative projects like Legoland Shanghai Resort to feature several world-firsts, further driving economic vitality in their surroundings.

By October 2024, 385 theme parks were operating across mainland China, with 87 categorized as large or super-sized—each covering more than 40 hectares or representing investments above 1.5 billion yuan. These numbers are expected to keep rising as the sector continues its dynamic growth trajectory, transforming China into one of the world’s premier theme park powerhouses.