Theme Parks Impact on the Queensland/Australian Economy – Nafi Anaan (ECO004)

Sea World has been voted Australia’s most popular tourist attraction, with the Gold Coast claiming three of the top four spots in a new study. (2014 Newspoll study)

Looking for a nice day trip? Head down to Dream World or Sea World. Hot summer’s day? Have a splash at Wet’n’Wild or White Water World. Want to travel someplace new and go on an adventure? Come to Gold Coast’s own, Movie World. Authentic family fun for everyone.

With Australia’s polished hospitality, its cultural diversity and its hot climate, Queensland could not be anymore of a tourist hot spot. But what are the impacts of the Gold Coast’s theme parks alone, on the Queensland economy?

Contribution the Economy

According to IBIS World (2019) some statistics regarding the amusement parks and centres operations include:

• Market size: $1 Billion
• Number of businesses: 1105 businesses
• Industry employment: 5090 people

A study from the Griffiths University also states from July 2014 to December 2014 the total income from Sea World, Movie World and Wet’n’Wild totalled at $143.6 million.

These statistics show how the theme park industry is huge and how it contributes so much to the Queensland economy (over $140 million in a six month period without the contribution of Dream World and White Water World). Alongside money, the theme parks also offer many jobs, investments, tax revenues, donations and community work.

Dream World Incident

In October 2016, the theme park industry took a hit with 4 people dying on a Dream World ride. Even 2 years after the incident, ABC reported the impact could be felt by the theme parks economically, with Ardent Leisure (Dream World’s owner) writing over $80 million off Dream World’s value. Furthermore, all theme parks would’ve felt the impact as people would’ve been very hesitant to take a trip to any theme park which could have resulted in job loss for theme park employees.

Conclusion

The theme parks in the Gold Coast deploy big money into the Queensland and Australian economy giving jobs and utility to customers. The theme parks will also continue to rise figuratively and economically due to the sustainability in the entertainment and tourism industry given its unique nature and its guaranteed fun. It will also remain a huge factor to the QLD/Australian economy.