Infinium Global Research and Consulting Solutions

The South Korea amusement park market was valued at USD 1,112.7 million in 2021 and is expected to reach USD 1,825.8 million by 2028 and grow at a CAGR of 7.44% over the forecast period. The South Korea amusement park market generated a revenue of USD 1,112.7 million in 2021. The market is likely to reach USD 1,825.8 million by 2028. The growing disposable income of South Korean population is anticipated to boost the growth of the South Korea amusement park market. South Korea has a highly developed mixed economy, with the fourth largest economy in Asia and tenth largest in the world, in terms of nominal GDP. The disposable personal income in South Korea was over KRW 2,000,000 billion (USD 1,750 billion) in 2021, growing by more than 7% year-on-year. Moreover, addition of new theme parks and rides are likely to boost the growth of the South Korea amusement park market. Addition of new amusement parks with thrilling new rides such as Lotte World Adventure Busan and Legoland Korea Resort is likely to attract more visitors. The visitors have more options of parks and rides with the new parks being built across the country. However, negative demographic trends are anticipated to hamper the market growth over the forecast period. Nevertheless, adoption of advanced technologies such as AR, VR, and robotics in amusement parks is likely to create growth opportunities in the market.