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Amusement parks emerge as stress busters

KOLKATA: Amusement parks in India are turning out to be great stress busters and the parks in the south and the west seem to be driving the growth of the Rs. 1,500-crore turnover industry.

Moreover, the fact that they increased bonding between family and friends was also a reason why they continued to be popular even at a time when budgets were being squeezed.

The spending power of the IT sector personnel seemed to have triggered industry growth in cities such as Chennai, Hyderabad and Bangalore. The growth in the western region has also been strong. The favourable tax structures of the southern States have also lured the industry to set up big parks in this region.

Sensing a growth market in the country, overseas companies are queuing up to set up business here and amusement park companies from Canada, China, Germany, Hong Kong, Italy, Singapore, the U.K., the U.S. and the UAE have seized the opportunity being provided by the proposed Amusement Expo beginning in Mumbai this week-end which is set to see the largest ever congregation of foreign participation this year. This is the ninth such expo.

Arijit Sengupta, president of the industry apex body, the Indian Association of Amusement Parks and Industries (IAPPI), said 140 kiosks would be set up at the expo, which is expected to give momentum to an industry which is growing at 15-20 per cent. With the industry beating the downturn, domestic companies have also turned up in sizable numbers at the show.

Mr. Sengupta said that the industry had so far attracted an investment of Rs. 4,000 crore and was hoping to reach Rs. 10,000 crore in size by 2020.

There are at present 100 parks in India with an employment generation of 200-300 per park.

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