Amusement industry growing at 15%, to reach Rs 25,000 cr mark soon: Experts

The amusement industry is growing at 15 per cent and is likely to reach the Rs 25,000 crore mark by 2030 or even before that in the country, say industry officials.

Industry experts said that the sector holds huge potential for job creation and offers investment opportunities in religious and mythological theme-based parks with the help of technological innovation, laser shows and others.

Speaking at a panel discussion on the growth of tourism, amusement, food, travel, Indian Association of Amusement Parks and Industries (IAAPI) chairman Shrikant Goenka said that the amusement industry is growing at the rate of 15 per cent, and there are huge employment opportunities.

There are immense investment opportunities to create more theme-based stories, mythological and religious theme parks with the help of technological innovation, laser shows, videos etc. at various religious circuits which are being developed by the Centre and State tourism boards, Goenka said.

"Our annual turnover stands at Rs 11,500 crore and we hope that it will reach Rs 25,000 crore by 2030 or we will be able to achieve this figure even before that, Goenka said.

There are about 300 amusement parks and 2,500 indoor amusement centres in India.

Panelists that included Arun Chittilappilly, Managing Director, Wonderla Holidays, Jai Malpani, Managing Director of Imagicaaworld and Abhishek Bansal, Executive Director of Pacific Development Corporation also discussed the growth prospects in the amusement industry in collaboration with other related associations like travel, food will help in driving tourism in the country.

Experts also discussed the growth of the amusement industry in recent years, the opportunities that exist, and the challenges ahead at the event on Friday, the Indian Association of Amusement Parks and Industries (IAAPI) said in a statement.