China's next big boom sector? Theme parks, according to a new report from Euromonitor International.
Theme park retail sales in China are estimated to hit $12 billion by 2020, an increase of 367 percent compared to 2010 sales volumes, the World Travel Market Global Trend Report, released on Tuesday, found. More than 330 million people will visit a theme park in the world's second-largest economy by the same date, the report said.
Growth in the popularity of leisure attractions in China comes as disposable incomes in the country grow, resulting in an increasing proportion of middle-class consumers. A study from the Economist Intelligence Unit (EIU) found that three-quarters of China's population would be deemed middle class by 2030.