Travel News – IAAPI requests PM to save amusement park industry from economic roller-coaster ride

Amusement parks contribute nearly 40% of the total leisure industry turnover which are key drivers of growth among the service sector in India. Approximately, 30-35% of visitors are outstation visitors and thus a major source of tourism. 

The Indian Association of Amusement Parks and Industries (IAAPI) is a major part of the travel, tourism & hospitality sector as amusement parks in India attracts more than 3 crore visitors annually and growing at a compounded annual growth rate (CAGR) of more than 17.5% with annual revenue of approximately INR 17 billion, providing direct employment to over 75,000 people. In India, amusement parks generate 60% – 65% from gate income (ticket sale), 30% – 35% from food & beverages and 10% – 15% from merchandise and are now suffering losses due to the black swan event encountered by the world.

 Moreover, the Indian theme park and amusement park sector contributes significantly to the local economy as well as tourism while giving new avenues of…

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