Theme Index_2014_v1_1

20142014GLOBALATTRACTIONSATTENDANCEREPORT

Cover: The Wizarding World of HarryPotter — Diagon Alley , ©UniversalStudios Florida, Universal OrlandoResort, Orlando, Florida, U.S.CREDITSTEA/AECOM 2014 Theme Index and Museum Index:The Global Attractions Attendance ReportPublisher: Themed Entertainment Association (TEA)Research: Economics practice at AECOMEditor: Judith RubinPublication team: Tsz Yin (Gigi) Au, Beth Chang, Linda Cheu, Daniel Elsea,Kathleen LaClair, Jodie Lock, Sarah Linford, Erik Miller, Jennie Nevin,Margreet Papamichael, Jeff Pincus, John Robinett, Judith Rubin,Brian Sands, Will Selby, Matt Timmins, Feliz Ventura, Chris Yoshii©2015 TEA/AECOM. All rights reserved.20142014CONTACTSFor further information about the contents of this report and about the Economicspractice at AECOM, contact the following:John RobinettSenior Vice President, Americasjohn.robinett@aecom.comT +1 213 593 8785Brian Sands, AICPVice President, Americasbrian.sands@aecom.comT +1 202 821 7281Linda CheuVice President, Americaslinda.cheu@aecom.comT +1 415 955 2928Chris YoshiiVice President, Economics, Asia-Pacificchris.yoshii@aecom.comT +852 3922 9000Margreet PapamichaelDirector, EMEAmargreet.papamichael@aecom.comT +44 20 3009 2283For information about TEA (Themed Entertainment Association):www.aecom.com/What+We+Do/EconomicsGLOBALATTRACTIONSATTENDANCEREPORTThe definitive annual attendancestudy for the themed entertainmentand museum industries.Published by the ThemedEntertainment Association (TEA) andthe Economics practice at AECOM.Judith RubinTEA Publications, PR & Social Mediajudy@teaconnect.orgT +1 314 853 5210Jennie NevinTEA Chief Operating Officerjennie@teaconnect.orgT +1 818 843 8497www.TEAconnect.org2 3

CONTENTSTHE BIG PICTURE 6 2014 THEME INDEX 222014 MUSEUM INDEX 58 ABOUT THIS STUDY 72Americas 22Asia-Pacific 38Europe, Middle East and Africa (EMEA) 48Americas 66Asia-Pacific 68Europe, Middle East and Africa (EMEA) 70Methodology and evolution of the TEA/ 72AECOM Theme Index and Museum IndexFrequently Asked Questions 72About TEA and AECOM 76©Chimelong Ocean Kingdom, Hengqin, ChinaLIST OF FIGURESWorldwide1 Top 10 theme park groups worldwide 92 Top 25 amusement/theme parks worldwide 10–133 Top 20 water parks worldwide 14–174 Top 20 museums worldwide 18–21Americas5 Top 20 amusement/theme parks in North America 30–316 Top 10 amusement/theme parks in Latin America 32–337 Top 20 water parks in North America 34–358 Top 10 water parks in Latin America 36–37Asia-Pacific9 Top 20 amusement/theme parks in Asia-Pacific 44–4510 Top 20 water parks in Asia-Pacific 46–47EMEA11 Top 20 amusement/theme parks in EMEA 54–5512 Top 10 water parks in EMEA 56–57Museums13 Top 20 museums in North America 66–6714 Top 20 museums in Asia-Pacific 68–6915 Top 20 museums in EMEA 70–714 5

THE BIG PICTURE©Typhoon Lagoon at Walt Disney World,Lake Buena Vista, Orlando, FloridaA year of global growthHow did the global attractionsindustry fare in 2014?Very well. The industry has continuedits post-recession attendance growthat a healthy rate of 4 percent for the topparks globally.Have there been anystandouts?It’s been a real team effort this yearwith all major regions contributing. Intheme parks, Europe has rebounded with3 percent volume growth, the U.S. hasremained steady at a little over 2 percent,and Asia, still the leader but not by asmuch, increased by about 5 percent.Having said that, from an individualoperator perspective, Universal hadexceptional results this year with mostparks expanding their attendance bydouble digits.What about the otherattractions, water parksand museums?4.1%Top 25 amusement/themeparks worldwide attendancegrowth 2013–142.8%Top 20 water parks worldwideattendance growth 2013–141.6%Top 20 museums worldwideattendance growth 2013–14Interview withJohn RobinettSenior Vice President,Economics, AmericasWater parks showed similar growth ofaround 3 percent with Brazil movingup the league tables with Thermas dosLaranjais now at number 4. Museumswere a bit slow this year with overallincreases under 2 percent. This was dueto a combination of strong performancein Asia and weak returns in Europeand the U.S.6 7

Are there any majortrends we should bekeeping our eyes on?There is still a strong focus on Asiafrom an investment standpoint, in allsectors of the business. The continentis generally under-served in terms ofattractions, and has a growing middleclass increasingly meeting the incomethreshold necessary for themedentertainment to be viable.The Middle East is also seeinga comeback with a number ofdevelopments planned or underconstruction there. While the market isclearly smaller than Asia by a significantmargin, a number of attractions makesense, and we’ve seen growth in thewater park area which is a mid-marketproduct that can certainly thrive in themarkets and climate of the Middle East.Finally, on the high end, we are seeingcontinued planning and development ofmega-projects, often with a combinationof themed attractions, resorts, gaming,and other components, which can clearthe US$1-billion mark in terms of overallcapital investment. On the low end, thereis also growth and ownership transitionsin the family entertainment center (FEC)market which keeps that sector lively.OCT Group, ChinaMerlin Entertainments GroupTOP 10 THEME PARKGROUPS WORLDWIDERank Group Name % change 2014 20131 WALT DISNEY ATTRACTIONS 1.3% 134,330,000 132,549,0002 MERLIN ENTERTAINMENTS GROUP 5.0% 62,800,000 59,800,0003 UNIVERSAL PARKS AND RESORTS 10.4% 40,152,000 36,360,0004 OCT PARKS CHINA 6.3% 27,990,000 26,320,0005 SIX FLAGS INC. -1.8% 25,638,000 26,100,0006 CEDAR FAIR ENTERTAINMENT COMPANY -0.9% 23,305,000 23,519,0007 SEAWORLD PARKS & ENTERTAINMENT -4.3% 22,399,000 23,400,0008 PARQUES REUNIDOS -14.6% 22,206,000 26,017,0009 CHIMELONG GROUP (NEW) 59.9% 18,659,000 11,672,00010 SONGCHENG WORLDWIDE (NEW) 103.6% 14,560,000 7,150,000TOTAL 5.1% 392,039,000 372,887,000Figure 1There is still a strongfocus on Asia froman investmentstandpoint, in allsectors of thebusiness.Tate Britain, London, U.K. ©Matt Stuart5.1%Top 10 theme park groupsworldwide attendancegrowth 2013–14392.0mTop 10 theme park groupsworldwide attendance 2014372.9mTop 10 theme park groupsworldwide attendance 20138© 2015 TEA / AECOM9

TOP 25 AMUSEMENT/THEME PARKS WORLDWIDE310 173 PARKSCALIFORNIA, U.S.16 711 122287 PARKSFLORIDA, U.S.5 PARKSEUROPE9252421232 PARKSCHINA202 PARKSSOUTH KOREA14 161813 154 PARKSJAPAN2 PARKSHONG KONG24 519VISITORS (MILLIONS)Up to 5m5m–10m10m–15m4.1%223.5m214.7mFigure 2A15m+Top 25 amusement/themeparks attendance growthworldwide 2013–14Top 25 amusement/theme parks worldwideattendance 2014Top 25 amusement/theme parks worldwideattendance 201310 © 2015 TEA / AECOM© 2015 TEA / AECOM11

TOP 25 AMUSEMENT/THEME PARKS WORLDWIDERank Park and Location % change 2014 20131 MAGIC KINGDOM at Walt Disney World,Lake Buena Vista, FL4.0% 19,332,000 18,588,0002 TOKYO DISNEYLAND, Tokyo, Japan 0.5% 17,300,000 17,214,0003 DISNEYLAND, Anaheim, CA 3.5% 16,769,000 16,202,0004 TOKYO DISNEY SEA, Tokyo, Japan 0.1% 14,100,000 14,084,0005 UNIVERSAL STUDIOS JAPAN, Osaka, Japan 16.8% 11,800,000 10,100,0006 EPCOT at Walt Disney World, Lake Buena Vista, FL 2.0% 11,454,000 11,229,0007 DISNEY'S ANIMAL KINGDOM at Walt Disney World,Lake Buena Vista, FL8 DISNEY'S HOLLYWOOD STUDIOSat Walt Disney World, Lake Buena Vista, FL9 DISNEYLAND PARK AT DISNEYLAND PARIS,Marne-La-Vallee, France2.0% 10,402,000 10,198,0002.0% 10,312,000 10,110,000-4.7% 9,940,000 10,430,00010 DISNEY'S CA ADVENTURE, Anaheim, CA 3.0% 8,769,000 8,514,00011 UNIVERSAL STUDIOS at Universal Orlando, FL 17.0% 8,263,000 7,062,00012 ISLANDS OF ADVENTURE at Universal Orlando, FL 0.0% 8,141,000 8,141,000Rank Park and Location % change 2014 201313 OCEAN PARK, Hong Kong SAR 4.2% 7,792,000 7,475,00014 LOTTE WORLD, Seoul, South Korea 2.8% 7,606,000 7,400,00015 HONG KONG DISNEYLAND, Hong Kong SAR 1.4% 7,500,000 7,400,00016 EVERLAND, Gyeonggi-Do, South Korea 1.1% 7,381,000 7,303,00017 UNIVERSAL STUDIOS HOLLYWOOD, Universal City, CA 11.0% 6,824,000 6,148,00018 SONGCHENG PARK, Hangzhou, China 38.3% 5,810,000 4,200,00019 NAGASHIMA SPA LAND, Kuwana, Japan -3.6% 5,630,000 5,840,00020 CHIMELONG OCEAN KINGDOM, Hengqin, China (new) NA 5,504,000 NA21 EUROPA PARK, Rust, Germany 2.0% 5,000,000 4,900,00022 SEAWORLD FL, Orlando, FL -8.0% 4,683,000 5,090,00023 TIVOLI GARDENS, Copenhagen, Denmark 6.6% 4,478,000 4,200,00024 DE EFTELING, Kaatsheuvel, Netherlands 6.0% 4,400,000 4,150,00025 WALT DISNEY STUDIOS PARK AT DISNEYLAND PARIS,Marne-La-Vallee, France-4.7% 4,260,000 4,470,000TOTAL 4.1% 223,450,000 214,708,000Figure 2B4.1%Top 25 amusement/themeparks attendance growthworldwide 2013–14223.5mTop 25 amusement/theme parks worldwideattendance 2014214.7mTop 25 amusement/theme parks worldwideattendance 201312 © 2015 TEA / AECOM© 2015 TEA / AECOM13

TOP 20 WATER PARKSWORLDWIDE152 36105 PARKSU.S.1 PARKGERMANY171 PARKU.A.E.82 PARKSCHINA1135 7 11204 PARKSSOUTH KOREA1 PARKCOLOMBIA161 PARKMALAYSIA14191893 PARKSBRAZIL1 PARKINDONESIA4121 PARKAUSTRALIAVISITORS (MILLIONS)Up to 1m1m–2m2.8%27.6m26.8m2m+Top 20 water parks worldwideattendance growth 2013–14Top 20 water parks worldwideattendance 2014Top 20 water parks worldwideattendance 2013Figure 3A14 © 2015 TEA / AECOM© 2015 TEA / AECOM15

TOP 20 WATER PARKSWORLDWIDERank Park and Location % change 2014 20131 CHIMELONG WATERPARK, Guangzhou, China 4.0% 2,259,000 2,172,0002 TYPHOON LAGOON AT DISNEY WORLD, Orlando, FL 2.0% 2,185,000 2,142,0003 BLIZZARD BEACH AT DISNEY WORLD, Orlando, FL 2.0% 2,007,000 1,968,0004 THERMAS DOS LARANJAIS, Olimpia, Brazil 17.5% 1,939,000 1,650,0005 OCEAN WORLD, Gangwon-Do, South Korea -5.7% 1,604,000 1,700,2006 AQUATICA, Orlando, FL 1.0% 1,569,000 1,553,0007 CARIBBEAN BAY, Gyeonggi-Do, South Korea -8.0% 1,493,000 1,623,0008 AQUAVENTURE WATERPARK, Dubai, U.A.E. 16.7% 1,400,000 1,200,0009 HOT PARK RIO QUENTE, Caldas Novas, Brazil 0.3% 1,288,000 1,284,00010 WET 'N WILD, Orlando, FL 2.0% 1,284,000 1,259,000Rank Park and Location % change 2014 201311 RESOM SPA CASTLE, Deoksan, South Korea 2.4% 1,218,000 1,189,20012 WET 'N' WILD GOLD COAST, Gold Coast, Australia -4.0% 1,200,000 1,250,00013 SHENYANG ROYAL OCEAN PARK —WATER WORLD, Fushun, China6.5% 1,172,000 1,100,00014 SUNWAY LAGOON, Kuala Lumpur, Malaysia 0.0% 1,100,000 1,100,00015 SCHLITTERBAHN, New Braunfels, TX 1.0% 1,037,000 1,027,00016 PISCILAGO, Girardo (Bogotá), Colombia -1.6% 1,018,000 1,035,00017 THERME ERDING, Erding, Germany 0.0% 1,000,000 1,000,00018 ATLANTIS WATER ADVENTURE, Jakarta, Indonesia -2.0% 960,000 980,00019 BEACH PARK, Aquiraz, Brazil -1.6% 949,000 964,00020 WOONGJIN PLAYDOCI WATERDOCI,Gyeonggi-Do, South Korea-5.2% 945,000 997,000TOTAL 2.8% 27,627,000 26,887,000Figure 3B2.8%Top 20 water parks worldwideattendance growth 2013–1427.6mTop 20 water parks worldwideattendance 201426.8mTop 20 water parks worldwideattendance 201316 © 2015 TEA / AECOM© 2015 TEA / AECOM17

TOP 20 MUSEUMSWORLDWIDE5 69 115 MUSEUMSLONDON, UNITED KINGDOM2 MUSEUMSNEW YORK, NY, U.S.7 123 414 15194 MUSEUMSWASHINGTON, D.C., U.S.117 1883 MUSEUMSPARIS, FRANCE1 MUSEUMVATICAN CITY, VATICAN21 MUSEUMBEIJING, CHINA131 MUSEUMSHANGHAI, CHINA1016 202 MUSEUMSSEOUL, SOUTH KOREA1 MUSEUMTAIPEI, TAIWANVISITORS (MILLIONS)Up to 2.5m2.5m–5m5m–7.5m7.5m +1.6%Top 20 museums worldwideattendance growth 2013–14107.3mTop 20 museums worldwideattendance 2014105.6mTop 20 museums worldwideattendance 2013Figure 4A18 © 2015 TEA / AECOM© 2015 TEA / AECOM19

TOP 20 MUSEUMSWORLDWIDERank Museum and Location % change 2014 2013 Admission1 LOUVRE, Paris, France -0.4% 9,300,000 9,334,000 Paid2 NATIONAL MUSEUM OF CHINA,Beijing, China3 NATIONAL MUSEUM OF NATURALHISTORY, Washington, D.C.4 NATIONAL AIR AND SPACE MUSEUM ,Washington, D.C.2.4% 7,630,000 7,450,000 Free-8.8% 7,300,000 8,000,000 Free-3.9% 6,700,000 6,970,000 Free5 BRITISH MUSEUM, London, U.K. -0.1% 6,695,000 6,701,000 Free6 NATIONAL GALLERY, London, U.K. 6.4% 6,417,000 6,031,000 Free7 THE METROPOLITAN MUSEUM OF ART,New York, NY0.0% 6,280,000 6,280,000 Paid8 VATICAN MUSEUMS, Vatican, Vatican 13.2% 6,177,000 5,459,000 Paid9 TATE MODERN, London, U.K. 18.4% 5,785,000 4,885,000 Free10 NATIONAL PALACE MUSEUM(TAIWAN), Taipei, Taiwan22.4% 5,402,000 4,412,000 PaidRank Museum and Location % change 2014 2013 Admission11 NATURAL HISTORY MUSEUM,London, U.K.12 AMERICAN MUSEUM OF NATURALHISTORY, New York, NY13 SHANGHAI SCIENCE & TECHNOLOGYMUSEUM, Shanghai, China14 NATIONAL MUSEUM OF AMERICANHISTORY, Washington, D.C.15 NATIONAL GALLERY OF ART,Washington, D.C.16 NATIONAL MUSEUM OF KOREA,Seoul, South Korea2.6% 5,388,000 5,250,000 Free0.0% 5,000,000 5,000,000 Paid17.9% 4,220,000 3,580,000 Paid-18.4% 4,000,000 4,900,000 Free-5.1% 3,892,000 4,100,000 Free15.9% 3,537,000 3,053,000 Free17 MUSEE D'ORSAY, Paris, France 0.5% 3,500,000 3,482,000 Paid18 CENTRE POMPIDOU, Paris, France -7.9% 3,450,000 3,745,000 Paid19 SCIENCE MUSEUM (SOUTHKENSINGTON), London, U.K.1.2% 3,356,000 3,317,000 Free20 NATIONAL FOLK MUSEUM OF KOREA,Seoul, South Korea20.9% 3,271,000 2,706,000 FreeTOTAL 1.6% 107,300,000 105,582,000Figure 4B1.6%Top 20 museums worldwideattendance growth 2013–14107.3mTop 20 museums worldwideattendance 2014105.6mTop 20 museums worldwideattendance 201320 © 2015 TEA / AECOM© 2015 TEA / AECOM21

THE AMERICAS©Magic Kingdom at Walt Disney World,Lake Buena Vista, Orlando, Florida, U.S.Theme parks:Breakthroughs in amature marketTechnology andintellectual propertyWith the end of the recession in theU.S., the theme park industry has beenreturning to a new normal economyand exhibiting the kind of moderate,stable growth that is characteristic of amature market.Within that mature market there isstill room for great achievements andbreakthroughs. The most notable ofthese in recent years was UniversalStudios’ Wizarding World of Harry Potterwhich, several years ago, broke throughrecession behavior and brought touristsflocking back to Orlando. Universal hasnow expanded that venture at its Orlandopark with the addition of Diagon Alleyand Hogwarts Express — recipientsof multiple Thea Awards in 2015 —and we’re about to see counterpartsoverseas as well.2.2%Top 20 amusement/themeparks North Americaattendance growth 2013–14138.1mTop 20 amusement/themeparks North Americaattendance 2014135.1mTop 20 amusement/themeparks North Americaattendance 2013Brian SandsVice President,Economics, AmericasThe Harry Potter attractions represent twodominant elements in our contemporaryindustry: the sophisticated application oftechnology and of intellectual property(IP). It was a large investment, all the moreimpressive for the speed with which it hasbeen done and the extraordinarily highquality all around, which is essential for asuper-sensitive IP such as this.22 23

The Harry Potter attractions represent twodominant elements in our contemporaryindustry: the sophisticated application oftechnology and of Intellectual Property (IP).©Magic Kingdom at Walt DisneyWorld, Lake Buena Vista, FloridaOur industry’s present day partnershipswith IP owners have ascended to anew level of creative collaboration andholistic planning. We see that the sooneryou can get IP to move from screen to aphysical environment, the sooner youreap the rewards and the larger thoserewards may be. In a similar vein, it willbe interesting to see what happensnext with pending openings of othersuch attractions, particularly Avatar atDisney’s Animal Kingdom.Cycle of reinvestmentAdditional factors important to growthof the North American theme park andwater park markets this year include:– The continued strengthening of theU.S. economy. While most Americansstill do not feel as comfortable asthey did prior to the Great Recession,we have officially been out of thedownturn for nearly six years. Most keyeconomic indicators are now at or nearlong‐term norms.19.3m2014 attendance at MagicKingdom at Walt Disney World,Lake Buena Vista, FL17%2013–14 attendance growthat Universal Studiosat Universal Orlando, FloridaMost major operators experienced significantimprovement in their financial performance.©Grand opening of The Wizarding World ofHarry Potter — Diagon Alley, at UniversalStudios Florida, Universal Orlando Resort,Orlando, Florida, U.S.– As a consequence of the economicupturn, domestic tourism grewsharply, as did international tourism(particularly from Asia), withrecords set in major markets acrossNorth America.– Beyond the investments outlinedabove at the top of the market in IPdrivenparks and rides, parks at alllevels are engaged in a major cycleof reinvestment, making up for aslowdown in investments during therecession. In addition to refreshingthe look and feel of their properties,all are making significant investmentsin new in-park attractions, suchas very technologically advancedroller coasters, dark rides, andwater slides. In addition, many parksare improving and enhancing theiraccommodation offerings.As a result of all of these factors,most major operators experiencedsignificant improvement in their financialperformance. Park and resort revenueswere up at Disney, Universal, Six Flags,Cedar Fair, and Merlin.24 25

Growth at U.S. theme parks was concentratedin the top nine parks underscoring the growingdominance of the major operators.Shifting demographicsOf course, there are some longtermchallenges facing the NorthAmerican market:– The continued stagnation of middleclass incomes, which may alreadybe leading to a bifurcation of themarket. This raises questions aboutthe sustainability of recent ticket priceincreases as well as the positioningof some parks relative to thecharacteristics of the residents andtourists to major markets.– The growth in what were traditionallyminority households that in effectare now becoming a majority of themarket, particularly Hispanic/Latinohouseholds. This cultural shift in thevisitor demographic may require are-thinking of certain expectations andmodels, such as the size of the typicalvisitor group.©Six Flags Mexico, Mexico City– The growth of mobile digital technologyobviously offers the ability forimprovements like online ticketingand real-time queue optimization.However, it also requires real timesocial media monitoring and rapidresponse should an issue arise withthe visitor experience.Growth trendsThe growing size of the Asian market ismaking itself ever more apparent with thereduction in the number of U.S. themeparks in the top 25 parks worldwide from11 last year to 10 this year, a trend thatwill continue for years to come. Whilein the near term much of the industry’sknow-how is traveling out from the U.S.to support the development of newparks in other markets, in the longerterm this is likely to lead to furtherinnovation in the Americas, as successfulnew ideas from international parks areimplemented there.2.4mSix Flags Mexico,Mexico City,attendance 2014©Parque Mundo Aventura, Bogotá, ColombiaGrowth at U.S. theme parks wasconcentrated in the top nine parks,all of which are Disney and Universalparks, and that together saw visitorattendance go up by 4.2 percent on lastyear - an increase of 4.1 million visitorscompared to last year. This was offsetby a 2.8 percent fall in attendance at theremaining 11 parks which together, had1.1 million fewer visitors compared tolast year). This underscores the growingdominance of the major operators whichhave global brand recognition, access tostrong IPs, enhanced accommodationofferings, and are also clustered inthe top tourist markets of Orlando andSouthern California.The World Cupappears to have haddiffering effects onattendance at someLatin America parks.23.5%Parque Mundo Aventura,Bogotá, Colombia,attendance growth2013–14Latin American theme parksLooking at the Top 10 Latin Americantheme parks, we see a sizable totalattendance increase for 2014 of morethan 5 percent versus the Top 10 in 2013.This is even more than the previous year’sincrease of nearly 4 percent. We alsosee some shifting around among the top10 positions and the entry of Xcaret tothe list.Double digit attendance increasesat some parks helped achieve thesenumbers. Reinvestment paid off for BetoCarrero World (Penha, Brazil) which addeda new area themed to the MadagascarIP and was rewarded with about 150,000more visits, an attendance hike of about10%. Parque Mundo Aventura (Bogota)was up 24 percent for 2014, reflectingabout 300,000 more visits than theprevious year. This has been attributedto Colombia doing well in Brazil’s 2014FIFA World Cup, motivating people to goout and enjoy themselves. Somewhatsurprisingly, the World Cup was alsocredited with the opposite effect by some26 27

other Latin American park operators,such as El Salitre Magico (Bogota) whichsaid that it cut into their attendance.In Guatemala, Mundo Petaha’s strongincrease of about 8 percent, an additional80,000–90,000 visits, was largelycredited to continued growth of thenational economy.As new markets grow, such as we arecurrently seeing in Asia, the Middle Eastand Latin America, we become awareof parks and their performance, whichsometimes leads to the addition of newparks to the lists, or revisions to theirperformance. Such is the case this yearwith Parque Xcaret (Cancun, Mexico),which is listed for the first time in the Top10 in seventh place, with about 1.2 millionattendance and about 1 percent growth.©Wet ‘N WIld, São Paulo, BrazilWater parks —a dynamic sectorMore than 8 million in annual attendanceis represented by the Top 10 Europeanand Middle East water parks, includingindoor facilities which have significantmarket share in Europe and are part ofthe study this year. We expect to seegrowth in this sector, especially in Dubaiand the U.A.E. Please refer to the EMEAsection of this report for further details ofwater parks in this region.Returning our focus to the Americas: Justas with theme parks, North Americanwater parks constitute a mature marketand most enjoyed steady business in2014. The Top 20 water parks in theregion grew in overall attendance from15 million to nearly 15.3 million this year— an increase of 1.6 percent. Significant25.6%Wet ‘N Wild São Paulo, Brazil,attendance growth 2013–14©Graham S. Jones/Columbus Zoo and Aquariumincreases were seen at Zoombezi Baywith some 50,000-60,000 additionalvisits, driven by the replacement of anexisting structure with a new one calledBaboon Lagoon, which has over twicethe waterslides and a more immersiveguest experience. In addition to attractinglots of new visitors, it also won anInternational Association of AmusementParks and Attractions (IAAPA) Best NewProduct Award for the best ThemedExhibit Design for Zoos, Aquariums, andMuseums. At the top of the water parkmarket, Wet ‘n Wild Orlando was up 2percent; Typhoon Lagoon, Aquatica andothers were up 1 percent.The performance of Latin American waterparks demonstrated some complexity.First of all, we have re-stated the2013 numbers for Hot Park Rio Quente(Caldas Novas, Brazil) which had beenunderestimated at below 250,000 — ashortfall of over 1 million, with the actualnumber being nearly 1.3 million. In 2014,Rio Quente posted a marginal increase,taking the number 2 spot in the top 1015.6%Baboon Lagoon at ZoombeziBay, Powell, Ohio, U.S.,attendance growth 2013–14table of water parks in Latin America,coming in just under Thermas dosLaranjais (Olimpia, Brazil) which posted1.9 million attendance for 2014. Both ofthese Brazilian water parks are integratedinto destination resorts. We’re seeingimpressive growth in the Latin Americanwater park market, with four of them alsoappearing in the top 20 worldwide.We are pleased to be forming deeperties with the water parks in this part ofthe world, and now have many of themreporting attendance on their own.AECOM has been doing a fair amount ofwork in Latin America and participatingin trade expos, and we have also beenvisiting the parks. Other notable numbersfor this area include Wet ‘n Wild SãoPaolo, which saw attendance jump 26percent, equating to some 100,000 newvisits. This was due to the addition of amajor new ride (Vortex) and World Cupenthusiasm. World Cup fever was alsocredited for the 14 percent increase invisitors to Rio Water Planet in Brazil whichhad 50,000 more visits this year.28 29

TOP 20 AMUSEMENT/THEME PARKSNORTH AMERICAFigure 5A/5BRank Park and Location % change 2014 20131 MAGIC KINGDOMat Walt Disney World, Lake Buena Vista, FL4.0% 19,332,000 18,588,0002 DISNEYLAND, Anaheim, CA 3.5% 16,769,000 16,202,0003 EPCOT at Walt Disney World, Lake Buena Vista, FL 2.0% 11,454,000 11,229,0004 DISNEY'S ANIMAL KINGDOMat Walt Disney World, Lake Buena Vista, FL5 DISNEY'S HOLLYWOOD STUDIOSat Walt Disney World, Lake Buena Vista, FL2.0% 10,402,000 10,198,0002.0% 10,312,000 10,110,0001 PARKONTARIO, CANADA6 DISNEY'S CA ADVENTURE, Anaheim, CA 3.0% 8,769,000 8,514,0007 ISLANDS OF ADVENTURE at Universal Orlando, FL 0.0% 8,141,000 8,141,0008 UNIVERSAL STUDIOS at Universal Orlando, FL 17.0% 8,263,000 7,062,0009 UNIVERSAL STUDIOS HOLLYWOOD, Universal City, CA 11.0% 6,824,000 6,148,0002 PARKSOHIO, U.S.15 1614173 PARKSNORTH EAST U.S.10 SEAWORLD FL, Orlando, FL -8.0% 4,683,000 5,090,00011 SEAWORLD CA, San Diego, CA -12.0% 3,794,000 4,311,000VISITORS (MILLIONS)6 PARKSCALIFORNIA, U.S.Up to 5m26 911 13 187 PARKSFLORIDA, U.S.201913 4 57 810 1212 BUSCH GARDENS TAMPA BAY, Tampa, FL 1.0% 4,128,000 4,087,00013 KNOTT'S BERRY FARM, Buena Park, CA 0.0% 3,683,000 3,683,00014 CANADA'S WONDERLAND, Maple, ON -1.0% 3,546,000 3,582,00015 CEDAR POINT, Sandusky, OH -4.0% 3,247,000 3,382,00016 KINGS ISLAND, Kings Island, OH 1.0% 3,238,000 3,206,00017 HERSHEY PARK, Hershey, PA 1.0% 3,212,000 3,180,00018 SIX FLAGS MAGIC MOUNTAIN, Valencia, CA -2.0% 2,848,000 2,906,00019 SIX FLAGS GREAT ADVENTURE, Jackson, NJ 0.0% 2,800,000 2,800,00020 BUSCH GARDENS WILLIAMSBURG, Williamsburg, VA -1.0% 2,699,000 2,726,0005m–10mTOTAL 2.2% 138,144,000 135,145,000Figure 2A10m–15m15m+Figure 2B2.2%Top 20 amusement/themeparks North Americaattendance growth 2013–14138.1mTop 20 amusement/themeparks North Americaattendance 2014135.1mTop 20 amusement/themeparks North Americaattendance 201330 © 2015 TEA / AECOM© 2015 TEA / AECOM31

TOP 10 AMUSEMENT/THEME PARKSLATIN AMERICA67Rank Park and Location % change 2014 20131 SIX FLAGS MEXICO, Mexico City, Mexico 1.0% 2,368,000 2,345,0002 HOPI HARI, São Paulo, Brazil -1.0% 1,668,000 1,685,0003 BETO CARRERO WORLD, Santa Catarina, Brazil 10.0% 1,683,000 1,530,0004 LA FERIA DE CHAPULTEPEC, Mexico City, Mexico 1.0% 1,552,000 1,537,0005 PARQUE MUNDO AVENTURA, Bogotá, Colombia 23.5% 1,423,000 1,152,0006 PLAZA DE SÉSAMO, Monterrey, Mexico 1.0% 1,221,000 1,209,0001 487 PARQUE XCARET, Cancún, Mexico 1.0% 1,212,000 1,200,0008 MUNDO PETAPA, Guatemala City, Guatemala 7.8% 1,138,000 1,056,0009 FANTASIALANDIA, Santiago, Chile 2.3% 1,111,000 1,086,00010 EL SALITRE MÁGICO, Bogotá, Colombia -2.3% 1,030,000 1,054,0005 10TOTAL 5.1% 14,406,000 13,704,000Figure 6B23VISITORS (MILLIONS)9Up to 5m5m–10mFigure 6A10m–15m15m+5.1%Top 10 amusement/themeparks Latin Americaattendance growth 2013–1414.4mTop 10 amusement/themeparks Latin Americaattendance 201413.7mTop 10 amusement/themeparks Latin Americaattendance 201332 © 2015 TEA / AECOM© 2015 TEA / AECOM33

TOP 20 WATER PARKSNORTH AMERICARank Park and Location % change 2014 20131 TYPHOON LAGOON AT DISNEY WORLD, Orlando, FL 2.0% 2,185,000 2,142,0002 BLIZZARD BEACH AT DISNEY WORLD, Orlando, FL 2.0% 2,007,000 1,968,0003 AQUATICA, Orlando, FL 1.0% 1,569,000 1,553,0004 WET 'N WILD, Orlando, FL 2.0% 1,284,000 1,259,0005 SCHLITTERBAHN, New Braunfels, TX 1.0% 1,037,000 1,027,0006 WATER COUNTRY USA, Williamsburg, VA 0.0% 726,000 726,0007 ADVENTURE ISLAND, Tampa, FL 0.9% 644,000 638,0008 SCHLITTERBAHN, Galveston,TX 0.9% 551,000 546,0009 HYLAND HILLS WATER WORLD, Denver, CO -2.0% 527,000 538,0001 PARKCOLORADO, U.S.1 PARK9ARIZONA, U.S.1216 20172 PARKSOHIO, U.S.14 1562 PARKSNORTH EAST U.S.10 SIX FLAGS-HURRICANE HARBOR, Arlington, TX 1.0% 523,000 518,00011 SIX FLAGS-WHITE WATER, Marietta, GA 1.0% 510,000 505,00012 WET N' WILD, Phoenix, AZ -1.1% 467,000 472,00013 RAGING WATERS, San Dimas, CA 1.4% 429,000 423,00014 SIX FLAGS HURRICANE HARBOR, Jackson, NJ -2.1% 423,000 432,0002 PARKSCALIFORNIA, U.S.13 193 PARKSTEXAS, U.S.58 10115 PARKSFLORIDA, U.S.184 PARKSSOUTH EAST U.S.1 237415 SPLISH-SPASH, Calverton, NY 2.4% 421,000 411,00016 ZOOMBEZI BAY, Powell, OH 15.6% 416,000 360,00017 DOLLYWOOD'S SPLASH COUNTRY, Pigeon Ford, TN 2.0% 408,000 400,00018 WET N' WILD EMERALD POINT, Greensboro, NC 0.0% 398,000 398,00019 KNOTT'S SOAK CITY USA, Buena Park, CA 1.1% 372,000 368,00020 SOAK CITY CEDAR POINT, Sandusky, OH -2.1% 371,000 379,000TOTAL 1.6% 15,268,000 15,030,000VISITORS (MILLIONS)Figure 7BUp to 1m1m–2m1.6%15.3m15.0mFigure 7A2m+Top 20 water parksNorth America attendancegrowth 2013–14Top 20 water parks NorthAmerica attendance 2014Top 20 water parks NorthAmerica attendance 201334 © 2015 TEA / AECOM© 2015 TEA / AECOM35

TOP 10 WATER PARKSLATIN AMERICARank Park and Location % change 2014 20131 THERMAS DOS LARANJAIS, Olimpia, Brazil 17.5% 1,939,000 1,650,0002 HOT PARK RIO QUENTE, Caldas Novas, Brazil 0.3% 1,288,000 1,284,0003 PISCILAGO, Girardo (Bogotá), Colombia -1.6% 1,018,000 1,035,0004 BEACH PARK, Aquiraz, Brazil -1.6% 949,000 964,00091075 PARQUE ACUATICO XOCOMIL, San MartínZapotitlán, Retalhuleu, Guatemala-2.4% 767,000 786,0006 WET 'N WILD SÃO PAULO, São Paulo, Brazil 25.6% 496,000 395,00057 BAHAMAS AQUAVENTURE WATER PARK,Paradise Island (Nassau, New Providence), Bahamas3.1% 464,000 450,0008 RIO WATER PLANET, Rio de Janeiro, Brazil 14.3% 400,000 350,00039 PARQUE ACUATICO EL ROLLO, Morelos, Mexico 5.0% 315,000 300,00010 WET 'N WILD, Cancún, Mexico 2.0% 255,000 250,0004TOTAL 5.7% 7,891,000 7,464,000Figure 8B2168VISITORS (MILLIONS)Up to 1m1m–2m5.7%7.9m6.4mFigure 8A2m+Top 10 water parksLatin America attendancegrowth 2013–14Top 10 water parks LatinAmerica attendance 2014Top 10 water parks LatinAmerica attendance 201336 © 2015 TEA / AECOM© 2015 TEA / AECOM37

ASIA-PACIFICTheme parks:Growth market©The Romantic Show of Jiuzhailocated at Jiuzhai Romance Park,Jiuzhaigou, ChinaExpansion and innovationOverall attendance at the top 20 themeparks in the Asian market increasednearly 5 percent in 2014, comparedto 2013.This strong growth is characterized bymore increases more increases thandecreases across the board; and theability to maintain the increases overtime. Universal Studios Japan saw abig increase in attendance due to theopening of The Wizarding World of HarryPotter. Tokyo Disney Resort, whichhad a very big year in 2013 due to its30th anniversary promotions, was ableto sustain those numbers last year.Chimelong Ocean Kingdom theme parkcomplex opened in Zhuhai to big numbersand rave reviews including a Thea Awardfor Outstanding Achievement.4.9%122.5m116.8mChris YoshiiVice President,Economics, Asia-PacificBeth ChangRegional Director,Economics, Asia‐PacificThat overall 5 percent increase, and thefact that there are 10 Asian theme parkson the list of Top 25 worldwide highestattended demonstrates that the Asianmarket is continuing its growth pattern.Those implementing innovation in theirattraction investments and in theirmarketing should continue to do well.Others will have fluctuations.Top 20 amusement/theme parks Asia‐Pacificattendance growth 2013–14Top 20 amusement/theme parks Asia‐Pacificattendance 2014Top 20 amusement/theme parks Asia‐Pacificattendance 201338 39

Three Asian groups — OCT, Chimelongand Songcheng — are now established inthe top 10 theme park groups worldwide.How did they get there? For OCT it isprimarily from adding new parks andkeeping their existing parks fairly stable.Chimelong was propelled onto this listfor the first time via the successfulopening of Chimelong Ocean Kingdom.Songcheng is aggressively growing,adding new cultural parks and showvenues in a number of cities. We willsee more from all three of these groups;expanding geographically is OCT’s model,and Chimelong and Songcheng bothhave several new projects in the pipelineas well. Two groups, Fantawild andHaichang in China, were squeezed off thelist this year but don’t count them out asthey expand their portfolios and parks.Asia’s larger parks keep getting larger,adding and expanding to leverage agrowing market, especially tourists. Forexample, Lotte World in South Koreaexperienced a big increase in attendancealmost entirely due to Mainland Chinesetourists visiting the park. Ocean Parkand Hong Kong Disney are drivingmore leisure tourism to Hong Kong,and another tourism bump will resultwhen Shanghai Disney Resort opens in2016. Overall we’ll see more Asian parksappearing on the top-attended chartsover time.Theme park industry currentsShanghai Disney Resort anticipationShanghai Disney Resort is now scheduledto open in spring 2016 as they haveexpanded the park capacity and aretaking the time to make sure everythingis ready. It is not unusual for parks inChina to open prematurely to coincidewith a holiday — but in our opinion, it’sbetter to take the additional time whenpossible in order to be truly prepared.Songcheng and Universal:Reinvestment drives growthThe very strong year for theme parks inAsia was propelled by the fundamentalmarket growth, particularly in China,based on the increases in wealthand tourism that drive visitation. Theother driver of visitation is, of course,reinvestment — keeping the qualitybar high and adding new attractions tobring customers back year after year.This was quite visible in Asian projectsthat expanded and reinvested in 2014,for example The Wizarding World ofHarry Potter at Universal Studios Japan,although open only half of the year,brought the park record attendance forthe entire calendar year.In China, another example is Songcheng,which added a new 4,500-seatperforming theater for live historicaldramas, effectively doubling the park’svisitor capacity. The new theater is verywell equipped with all the resourcesThe very strong year for theme parks in Asia waspropelled by the fundamental market growth,particularly in China based on the increases inwealth and tourism that drive visitation.©Hangzhou Paradiselocated in Songcheng Park,Hangzhou, Chinaneeded to maintain high productionvalue shows. The park itself, themedon the Song Dynasty, is primarilytourism-driven, with success boostedby a very strong group sales and tourprogram oriented to adults, seniors, andschool groups.Chimelong risingOpen for just 11 months in 2014, and stilladding new attractions, Chimelong OceanKingdom is already at number 10 on theAsia Top 20 list. This performance isespecially impressive taking into accountthat the park is in a new location — with17.3mTokyo Disneyland, Tokyo,Japan, attendance 201438.3%Songcheng Park, Hangzhou,China, attendance 2014no other theme parks nearby (althoughconvenient to Macau). Ocean Kingdom isvery much a destination, and Chimelongopened a 1,888-room themed hotel withthe park, and is adding two more hotelswith around 2,000 additional rooms. Theadult admission price to Ocean Kingdomis 350 RMB — 80 percent higher thanthe competitive market price (in China)of 200 RMB. This sends a message tothe industry that people are preparedto pay for quality in this market. Thisdemonstrable ability to handle higherprices will move the entire sector towardhigher quality. Continual reinvestment16.8%Universal Studios Japan, Osaka,Japan, attendance 201440 41

Weather and other factors combined tomake 2014 an indifferent year for water parkattendance in some parts of Asia.©OCT Groupis necessary to maintain growth, andparks need to be able to raise prices tosupport the cost of those new attractions,creating magical, innovative visitorexperiences that in turn continue to buildthe market of satisfied patrons.Water parks — expansiondespite weatherWeather and other factors combined tomake 2014 an indifferent year for waterpark attendance in some parts of Asia.South Korea’s water parks sufferedin particular from the dishearteningeffects of the MV Sewol ferry disaster inwhich hundreds of high school studentslost their lives. Water park attendancein Indonesia was also down due topoor weather.That said, the Asian water park sectorhas become significant enough thatour top list was expanded from 15 to 20properties this year. As more companieshave entered this part of the market inAsia, it was time to expand the studyto allow a more consistent comparisonwith our Top 20 lists in Europe and theAmericas. And performance in Asia wasstill high enough that eight of the waterparks on our Top 20 global list for waterparks in 2014 are in that region.5.5mChimelong OceanKingdom, Hengqin,China, attendance 2014Some park numbers were up quitesignificantly, such as Sunway (Malaysia),which benefited from strong marketingand a boost from Tourism Malaysia.Chimelong water park, the bestperformer, produced an attendancesurge by heating the water in its poolsand attractions, which allowed them toextend the operating season significantly,opening a month earlier and closing amonth later.Expect continued future growth in thissector, particularly in China. Althoughmost of the Top 20 Asian water parksare outside of China, more than 21 newwater parks opened in China during thelast year– a reflection of high interest andsmaller investment required compared tobuilding a theme park.© Chimelong Ocean Kingdom, Hengqin, ChinaChimelong water park produced anattendance surge by heating the water in itspools and attractions, which allowed them toextend the operating season significantly.42 43

TOP 20 AMUSEMENT/THEME PARKSASIA-PACIFICRank Park and Location % change 2014 20131 TOKYO DISNEYLAND, Tokyo, Japan 0.5% 17,300,000 17,214,0002 TOKYO DISNEY SEA, Tokyo, Japan 0.1% 14,100,000 14,084,0005 72 PARKSSOUTH KOREA3 UNIVERSAL STUDIOS JAPAN, Osaka, Japan 16.8% 11,800,000 10,100,0004 OCEAN PARK, Hong Kong SAR 4.2% 7,792,000 7,475,0005 LOTTE WORLD, Seoul, South Korea 2.8% 7,606,000 7,400,00011 PARKSCHINA16916 HONG KONG DISNEYLAND, Hong Kong SAR 1.4% 7,500,000 7,400,0007 EVERLAND, Gyeonggi-Do, South Korea 1.1% 7,381,000 7,303,0001012 1415 17184 6813 19 20324 PARKSJAPAN8 SONGCHENG PARK, Hangzhou, China 38.3% 5,810,000 4,200,0009 NAGASHIMA SPA LAND, Kuwana, Japan -3.6% 5,630,000 5,840,00010 CHIMELONG OCEAN KINGDOM, Hengqin, China (new) NA 5,504,000 NA11 UNIVERSAL STUDIOS SINGAPORE, Singapore 5.2% 3,840,000 3,650,00012 OCT EAST, Shenzhen, China -4.3% 3,780,000 3,950,0001 PARKSINGAPORE112 PARKSHONG KONG13 CHANGZHOU DINOSAUR PARK, Changzhou, China 2.8% 3,700,000 3,600,00014 WINDOW OF THE WORLD, Shenzhen, China 10.8% 3,600,000 3,250,00015 CHIMELONG PARADISE, Guangzhou, China 4.7% 3,351,000 3,200,00016 HAPPY VALLEY, Beijing, China 7.7% 3,340,000 3,100,00017 HAPPY VALLEY, Shenzhen, China 0.6% 3,300,000 3,280,00018 HAPPY VALLEY, Chengdu, China 0.8% 2,580,000 2,560,00019 HAPPY VALLEY, Shanghai, China 4.0% 2,360,000 2,270,000VISITORS (MILLIONS)Up to 5m5m–10m20 FANTAWILD ADVENTURE, Wuhu, China 2.2% 2,253,000 2,204,000TOTAL 4.9% 122,527,000 116,805,000Figure 9BFigure 9A10m–15m15m+4.9%Top 20 amusement/themeparks Asia-Pacific attendancegrowth 2013–14122.5mTop 20 amusement/theme parks Asia-Pacificattendance 2014116.8mTop 20 amusement/theme parks Asia-Pacificattendance 201344 © 2015 TEA / AECOM© 2015 TEA / AECOM45

TOP 20 WATER PARKS ASIA-PACIFICRank Park and Location % change 2014 20131 CHIMELONG WATERPARK, Guangzhou, China 4.0% 2,259,000 2,172,0002 OCEAN WORLD, Gangwon-Do, South Korea -5.6% 1,604,000 1,700,0003 CARIBBEAN BAY, Gyeonggi-Do, South Korea -8.0% 1,493,000 1,623,0002 3 49 155 PARKSSOUTH KOREA4 RESOM SPA CASTLE, Deoksan, South Korea 2.4% 1,218,000 1,189,0005 WET 'N' WILD GOLD COAST, Gold Coast, Australia -4.0% 1,200,000 1,250,000121 PARKINDIA1619 204 PARKSCHINA101 PARKJAPAN6 SHENYANG ROYAL OCEAN PARK —WATER WORLD, Fushun, China6.5% 1,172,000 1,100,0007 SUNWAY LAGOON, Kuala Lumpur, Malaysia 0.0% 1,100,000 1,100,0008 ATLANTIS WATER ADVENTURE, Jakarta, Indonesia -2.0% 960,000 980,0009 WOONGJIN PLAYDOCI WATERDOCI,Gyeonggi‐Do, South Korea-5.2% 945,000 997,00010 SUMMERLAND, Tokyo, Japan -5.9% 884,000 939,0003 PARKSMALAYSIA714 16171 PARKSINGAPORE11 OCEAN PARK WATER ADVENTURE, Jakarta, Indonesia -2.9% 777,000 800,00012 WATER KINGDOM, Mumbai, India 0.0% 750,000 750,00013 THE JUNGLE WATER ADVENTURE, Bogor, Indonesia -16.0% 739,000 880,00014 SUNWAY LOST WORLD OF TAMBUN, Perak, Malaysia 40.0% 700,000 500,0003 PARKSINDONESIA8 11 132 PARKSAUSTRALIA15 RESOM OCEAN CASTLE,Chungcheongnam‐Do, South Korea1.8% 697,000 685,00016 LEGOLAND WATER PARK, Johor, Malaysia (new) NA 630,000 NA517 ADVENTURE COVE WATERPARK, Singapore -5.2% 614,000 648,0001818 WHITEWATER WORLD, Gold Coast, Australia 8.7% 550,000 506,00019 PLAYAMAYA WATER PARK, Wuhan, China -27.0% 540,000 740,00020 PLAYAMAYA WATER PARK, Shanghai, China -7.0% 530,000 570,000VISITORS (MILLIONS)TOTAL 1.2% 19,362,000 19,129,000Up to 1mFigure 10B1m–2m1.2%19.4m19.1mFigure 10A2m+Top 20 water parksAsia‐Pacific attendancegrowth 2013–14Top 20 waterparks Asia‐Pacificattendance 2014Top 20 waterparks Asia‐Pacificattendance 201346 © 2015 TEA / AECOM© 2015 TEA / AECOM47

EMEA©FuturoscopeJaunay-Clan, FranceThis year we have broadened the focusof this section to place more emphasison the Middle East, where there arecurrently some large theme parks indevelopment. We expect that withinthe next few years some of those parksmay become visible on our lists oftop-attended parks. EMEA refers tothe region including Europe, the MiddleEast and Africa. Currently, no projectsin Africa have yet made their way ontothe charts.Middle East — themepark anticipation3.0%Top 20 amusement/themeparks EMEA attendancegrowth 2013–1459.5mTop 20 amusement/theme parks EMEAattendance 201457.8mTop 20 amusement/theme parks EMEAattendance 2013Margreet PapamichaelDirector, EMEAClearly, this year, many eyes are focusedon the Middle East and AECOM istracking events there carefully. There’sgreat anticipation to see what will happenin Dubai when some of the large themepark complexes get closer to finalizingconstruction and begin opening theirgates, which some may do within the nextyear or two. There is a lot in the pipelinein the Middle East, and after some ofthese parks have been up and runningfor a while, the industry will have a basisto gauge the realities and specifics ofthis unique market — exciting times!Developments here are spurred along bya wish from the governments to providea more rounded offer to tourists beyondthat of the pure ‘sun destination’ it hasbeen in the past. The World Expo setto be held in Dubai in 2020 is also animpetus behind new developments, andis bringing more attention to this partof the world.48 49

2014 was generally a good year for the Europeanparks, with all but the French Disney propertiesincreasing their attendance.European theme parks —continued recovery2014 was generally a good year forthe European parks, with all but theFrench Disney properties increasingtheir attendance.Trends and the futureLooking east, in Russia political eventshave had an impact and development mayhave slowed down in that region. It maywell mean that it will take a while longerfor the parks there to get to construction.Where in 2013, we saw an improvementin the performance of the NorthernEuropean parks while the SouthernEuropean parks were still under the yokeof the global recession, in 2014 it seemsthat Southern Europe has been catchingup. The excellent performance of ParqueWarner near Madrid is a testament tothe industry’s recovery in that region andgood management. Futuroscope alsobenefited from the uplift and was alsoboosted by the opening of their ‘RavingRabbids’ attraction, The Time Machine,which was honored with a 2015 TheaAward. Northern European parks havelikewise continued their recovery andrecorded some solid growth throughoutthe year. The operators attribute thisto a better economic climate, renewedinvestment in attractions and goodweather over the course of the summer.International IPs are playing anincreasingly important role in park andattraction development in the EMEAregion, especially in the developingmarkets. However, the more establishedWestern European markets are also veryfond of their home grown IPs which arevery strong within their regional markets— as illustrated by the strength of EuropaPark, Tivoli and De Efteling.Interestingly, smaller scale themedentertainment developments are alsovery much in vogue and we know ofa number of companies who are alldeveloping new entertainment and visitorattraction concepts. The Middle Easthas led the way in showcasing someinteresting new family entertainmentcenter (FEC) concepts and we think therewill be more exciting concepts coming tothe market soon.We also think that we’ll see an increasingdevelopment of FECs connected withlarge retail developments as shoppingseems to turn more and more into aleisure activity.Looking ahead, some of the larger themeparks are planning investment in newattractions which will keep shaking up theindustry for the next year or so, and wehope that this renewed investment willkeep theme park attendance growing.3.5mPort Aventura, Salou,Spain, attendance 2014Theme parks are definitely back on lineand once again on the list of desiredprojects in the region. Governments anddevelopers are all looking at how theycan benefit from themed entertainment.The much-publicized development of atheme park with the BBC and ParamountIP in the U.K. is only one of a long listof planned developments across theboard within EMEA at the moment. And,assuming no major political or economicearthquakes happen, we are lookingforward to a further strengthening acrossthe board next year.25.9%Parque Warner, Madrid,Spain, attendancegrowth 2013–1413.7%Futuroscope, Jaunay-Clan, France, attendancegrowth 2013–14-4.7%Disneyland Park At DisneylandParis, Marne-La-Vallee, France,attendance change 2013–14Looking ahead, some of the larger theme parksare planning investment in new attractions whichwill keep shaking up the industry.50 51

Operator newsMerlin Entertainments continued itsupward momentum and has kept itsposition as the world’s second largesttheme park group, with a slightlyreduced growth of 5 percent in its overallattendance. The company recordedstrong performances in its theme parks— especially the LEGOLAND parks — butit was a somewhat mixed picture for theirMidway attractions. These were impactedin Asia by political unrest in Thailandand the U.S. East Coast and Midwestunits suffered from cold weather at thebeginning of the year, combined with adelay in the capital investment program.Compagnie des Alpes (CDA), anotherEuropean based operator, has taken theopportunity of the improving economicclimate to divest, and has sold both WalibiSud-Ouest and Dolfinarium in January2015. Other concepts are being rolled out8.4%Liseberg, Gothenburg,Sweden, attendancegrowth 2013–14by CDA throughout Europe and we expectto see this group steadily increasing itsoverall visitor number to its leisure parks.A first look at EMEAwaterparksThis year the Theme Index includes, forthe first time, a study of visitation towater parks in EMEA. As it is the firsttime this category has been included, it’spossible that new gems of water parksperforming very well in the regionalmarkets will come or be brought to ourattention in future.The 2014 list shows a cluster of waterparks in the Middle East, where theirdevelopment has been something ofa trailblazer for the more intensivetheme park projects under way. Most ofthese Middle Eastern water parks arecharacterized by being highly themed,having grown their own in-house IP1.4mAquaventure Waterpark,Dubai, U.A.E., attendance 2014around culturally relevant stories. Thesewater parks are providing an interestingcombination of all the usual elementssuch as slides and rivers, but alsodistinctly theme park-ish rides. The warmweather in this region has naturally madethese parks a hit year-round with bothresidents and tourists alike.The other cluster of water parks evidentin the list is in Germany. Germany has along history of creating water attractions,traditionally focused on the healingqualities of water and spa visitation,rather than fun water parks. Many ofthe German (and indeed North EastEuropean) water parks have come fromthis history and incorporate some ofthese aspects. Those featured in ourlist are those with a minimum of threewater slides / flumes, a wave pool, retailand food areas, and at least two of thefollowing other elements:– Tube rides– Free-form pool– Lazy river– Kids’ water play areaSome of these Northern European waterparks have seasonal openings but arestill managing to attract great numbers ofvisitors and we expect to unearth more ofthese in the course of the coming year.Water parks in the Middle East are providing aninteresting combination of all the usual waterpark elements such as slides and rivers, butalso distinctly theme park-ish rides!52 53

TOP 20 AMUSEMENT/THEME PARKSEUROPE, MIDDLE EAST AND AFRICARank Park and Location % change 2014 20134 PARKSUNITED KINGDOM5 PARKSFRANCE15 1513161 PARKNETHERLANDS910 11172064142 PARKSSPAIN1982 PARKSSWEDEN73181 PARKDENMARK23 PARKSGERMANY1 PARKITALY1 DISNEYLAND PARK AT DISNEYLAND PARIS,Marne-La-Vallee, France-4.7% 9,940,000 10,430,0002 EUROPA PARK, Rust, Germany 2.0% 5,000,000 4,900,0003 TIVOLI GARDENS, Copenhagen, Denmark 6.6% 4,478,000 4,200,0004 DE EFTELING, Kaatsheuvel, Netherlands 6.0% 4,400,000 4,150,0005 WALT DISNEY STUDIOS PARK AT DISNEYLANDPARIS, Marne-La-Vallee, France-4.7% 4,260,000 4,470,0006 PORT AVENTURA, Salou, Spain 2.9% 3,500,000 3,400,0007 LISEBERG, Gothenburg, Sweden 8.4% 3,100,000 2,860,0008 GARDALAND, Castelnuovo del Garda, Italy 1.9% 2,750,000 2,700,0009 ALTON TOWERS, Staffordshire, U.K. 3.0% 2,575,000 2,500,00010 LEGOLAND WINDSOR, Windsor, U.K. 7.3% 2,200,000 2,050,00011 THORPE PARK, Chertsey, U.K. 5.0% 2,100,000 2,000,00012 LEGOLAND BILLUND, Billund, Denmark 6.9% 1,925,000 1,800,00013 PUY DU FOU, Les Epesses, France 9.9% 1,912,000 1,740,00014 PHANTASIALAND, Bruhl, Germany 5.4% 1,845,000 1,750,00015 PARC ASTERIX, Plailly, France 11.1% 1,800,000 1,620,00016 FUTUROSCOPE, Jaunay-Clan, France 13.7% 1,665,000 1,464,00017 CHESSINGTON WORLD OF ADVENTURES,Chessington, U.K.6.7% 1,600,000 1,500,000VISITORS (MILLIONS)Up to 5m5m–10m18 GRONALUND, Stockholm, Sweden 3.3% 1,550,000 1,500,00019 HEIDE PARK, Soltau, Germany 5.4% 1,475,000 1,400,00020 PARQUE WARNER, Madrid, Spain 25.9% 1,460,000 1,160,000TOTAL 3.0% 59,535,000 57,809,000Figure 11A10m–15m15m+Figure 11B3.0%Top 20 amusement/themeparks EMEA attendancegrowth 2013–1459.5mTop 20 amusement/theme parks EMEAattendance 201457.8mTop 20 amusement/theme parks EMEAattendance 201354 © 2015 TEA / AECOM© 2015 TEA / AECOM55

TOP 10 WATER PARKSEUROPE, MIDDLE EAST AND AFRICARank Park and Location 20141 AQUAVENTURE WATERPARK, Dubai, U.A.E. 1,400,0002 THERME ERDING, Erding, Germany 1,000,0003 TROPICAL ISLANDS, Krausnick, Germany 910,0004 SIAM PARK, Santa Cruz de Tenerife, Spain 850,000105 WILD WADI, Dubai, U.A.E. 725,00076836 PARKSGERMANY6 MIRAMAR, Heidelberg, Germany 720,0007 AQUALAND, Koln, Germany 700,0008 PALM BEACH, Nurnberg, Germany 680,00029 YAS WATERWORLD, Abu Dhabi, U.A.E. 675,00010 NETTEBAD, Osnabrück, Germany 660,0001TOTAL 8,320,00041 PARKTENERIFE, SPAIN3 PARKSU.A.E.5Figure 12B9VISITORS (MILLIONS)Up to 1m1m–2m2m+8.3mTop 10 water parksEMEA attendance 2014Figure 12A56 © 2015 TEA / AECOM© 2015 TEA / AECOM57

MUSEUMSMuseums in Europe andthe Middle EastMasterpieces and the Francis effectLouvre, Paris, FranceMuseums in Europe enjoy steady trafficas top tourist destinations, althoughblockbuster exhibitions continue to drivepeak attendance numbers. Attendanceto the top 20 museums in EMEA (EMEAdenotes the region including Europe, theMiddle East and Africa) grew 2.8 percentin 2014. While modest, this growth rate isencouraging for an economic climate thatis still recovering.The Louvre in Paris remains firmly atthe top of the list despite a slight dropin attendance. The mix of visitors at theLouvre is 30 percent domestic and 70percent international, with the formerprimarily visiting for the purpose of viewingtemporary exhibitions and the latter beingdriven by tourism. This emphasizes theimportance of generating renewed interestwhile not forgetting the value of the greatmasterpieces in the main collection thatdraw the international tourists.1.6%Top 20 museums worldwideattendance growth 2013–14107.3mTop 20 museums worldwideattendance 2014105.6mTop 20 museums worldwideattendance 2013Linda CheuVice Presidentwith contributions byBeth Chang, Vice President,Economics, Asia-Pacific;Margreet PapamichaelDirector, EMEA; andJodie Lock, SeniorEconomist, EMEAThe British Museum attracted the secondhighest number of visitors. Attendancewas slightly down, likely due to area visitornumbers sliding as the Olympic effectwears off. In Russia, the State Hermitage,the top museum, with over 3.25 millionvisitors, also performed well with anincrease of 4.1 percent in attendance,likely due to the effect of tightening visarestrictions over the course of the yearleading to increasing domestic tourism.58 59

There are currently a number of museums inWestern Europe making major reinvestments.Tate Modern: Turbine Hall©Tate PhotographyWorth noting is the increase in the visitornumbers to the Vatican Museums. Wethink this can be largely attributed to the“Francis effect”; he was elected Pope inmid-2013, and 2014 would have been thefirst year this effect would have been feltin full. (This is a factor we don’t think theother museums can replicate!)The excitement over the re-opening ofthe Rijksmuseum in Amsterdam seems tohave moderated, as is expected after anymajor expansion or investment. Annualattendance for 2014, the first full year ofmuseum operations since re-opening isup by 11.4 percent, a very healthy figurebut less than the dramatic 25 percentseen immediately after re-opening. Lastyear’s 2.2 million visitors were achievedin the last three quarters of 2013. Weare looking forward to seeing how themuseum thrives in 2015.Uplifting blockbustersA closer look at some of the numberswithin the Top 20 reveals some fairlylarge ups and downs in attendanceat individual museums. The biggestperformer for 2014 was the Tate Modern,which hosted the very successful andmuch publicized Matisse exhibition.The biggest drop in visitor numbers was9.3mLouvre, Paris,attendance 201413.2%Vatican Museums, Vatican,attendance growth 2013–14recorded by the Reina Sofia in Madrid,which is entirely ascribed to the increasethe previous year for the Dali exhibition.All other Spanish museums showincreases in attendance.These figures demonstrate the massiveimpact that traveling blockbusterexhibitions can have. When WillGompertz, the BBC Arts Editor,commented on the state of the Britishmuseum industry he said: “Museumsand galleries have become mastersof the mega-blockbuster: big, oncein-a-lifetimeexhibitions like Matisseat Tate Modern or Rembrandt at theNational Gallery that become mustseeattractions.” We noted this trendin our 2013 report and it is here to stay.It seems to make no great differencein performance for the top museumswhether entry is free or paid. The muchgreater influence on visitor numbers isthe number and quality of the temporaryexhibitions hosted by the institution.Reinvestments and the pipelineThere are currently a number ofmuseums in Western Europe makingmajor reinvestments. The Imperial WarMuseum in London will be a museumto watch, as it partially re-opened in-19.2%Reina Sofia, Madrid, Spainattendance change 2013–1418.4%Tate Modern, London,attendance growth2013–14mid-2014 following a period of significantrefurbishment and attendance seemslikely to increase significantly.Looking to the Middle East, there areexciting openings in the years ahead.The widely publicized development ofSaadiyat Island in the U.A.E. is the mostsignificant pipeline development in theEMEA region. Three major museumsare planned to open in the next threeyears, including the Louvre Abu Dhabi,the Zayed National Museum, andGuggenheim Abu Dhabi.Museums in North AmericaStability, high-tech reinventionand new sources of capitalNorth America is generally a verymature market for museums. Numbersfrom the top attended venues in 2014indicate that, on average, visitationlevels have remained stable. In the bigmuseum cities, up-and-down variationwas mostly related to opening andclosing dates of temporary exhibitionsor major events. Unique external factorsalso played a part — such as the PolarVortex affecting Chicago museums andthe government shutdown affectingWashington, D.C. museums.60 61

Museums in North America are undergoinga wave of reinvestment in core exhibitry andthe visitor experience.6.28mThe MetropolitanMuseum of Art,New York, NYThe leader continues to be theSmithsonian National Natural HistoryMuseum in Washington, D.C., with over7 million visits. This was despite thefact that during 2014, a core permanentfeature — the dinosaur exhibit, generallyconsidered to be the ‘bread and butter’ ofa natural history museum — was closedfor renovation. It will reopen in aboutfive years.This example reflects a very interestingtrend, in North America, of reinvestmentin core exhibitry and the visitorexperience. The combined impactof the aging of permanent exhibitswith rapid changes in technology andentertainment is sparking a very seriousinterest among museums of all sizes toreinvest and renew.As part of this wave of reinvestment,we are seeing willingness to look toother industries, including commercialattractions and hospitality, to improvethe visitor experience and reachaudiences. Across the board, all typesof museums are showing themselvesincreasingly receptive to integratingstorytelling using technology andmedia, where the objects or collectionare secondary to a story or theme. Weare also seeing a continued effort toattract the millennial generation throughpersonal, interactive experiences andsocial events.Financing strategies are also shiftingas part of a continued reaction tothe recession. More museums areexploring opportunities to diversify andstabilize operating revenues sourcesthrough a variety of mechanisms. Onefinancing strategy we have observed isintegration with real estate developmentas a replacement for endowments oroperating subsidies, particularly asgovernment funding has declined.Another trend to watch is the evidentinterest of major cultural brands, suchas National Geographic, BBC andSmithsonian, in expanding their reachthrough either licensing or exploring newor new types of facilities in new locations.Sometimes the museum itself is thebrand, and sometimes the new locationis international. Examples include theNational Geographic branded giantscreen movie theaters in science centers;BBC’s collaboration with Sega on the Orbiexperience center in Yokohama, Japan;the Museum at Prairie Fire’s (KansasCity) unique content partnership with theAmerican Museum of Natural History;and Discovery Cube expanding beyond itsoriginal Santa Ana, California location toadd a new, Los Angeles campus.OpeningsNew museums that recently openedtheir doors include the National Centerfor Civil & Human Rights and the CollegeFootball Hall of Fame, both in Atlanta;Harvard Art Museum; Exploratorium inSan Francisco. TThis year also saw theopening of the expansions to the DenverMuseum of Nature & Science and of NewYork City’s Whitney Museum of AmericanArt following the latter’s relocation tothe city’s meatpacking district — againfurther examples of major reinvestment.Anticipated openings coming sooninclude the Smithsonian NationalMuseum of African American History& Culture in Washington, D.C., and theexpanded San Francisco Museum ofModern Art. These are all major facilities,and it will be interesting to see how theyshift the cultural landscape of their citiesand how they perform over time.7.3mNational Museum of NaturalHistory, Washington, D.C.attendance 201413.8%U.S. Holocaust MemorialMuseum, Washington, D.C.,attendance growth 2014-13-18.4%National Museum of AmericanHistory, Washington, D.C.,attendance change 2013–14Another trend to watch is the interest of majorcultural brands in expanding their reach througheither licensing or exploration of new facilities.62 63

Museums in AsiaMore visitation, more free admissionIn Asia, our research shows an overall,healthy increase in museum visitationnumbers of about 9 percent. On the Top20 list of highest-attended museumsworldwide, five are in Asia, with theNational Museum of China in Beijingattracting the second highest numberof visitors.Patterns within the sector have notchanged significantly from 2013 to 2014.As in Europe and the U.S., variationsin attendance are usually driven bythe schedules of traveling blockbusterexhibitions and by significantreinvestment, plus variables. Growthin attendance largely depended on theindividual museum. Some museums,such as the Hong Kong ScienceMuseum and Tokyo National Museum,experienced large increases, whileothers, such as the National ScienceMuseum Thailand, decreased due toexternal market conditions (i.e. politicalinstability and a decline in tourism).The Palace Museum in Taiwancontinues to see attendance increasefrom the strong growth of the Chinesetourist market, which is being furtherderegulated. This Chinese tourist marketgrowth is also a key driver for SouthKorea’s major museums’ continuousattendance increase.In China and South Korea, the museumstend to have free admission. An objectiveof the Chinese government is for virtuallyall the country’s museums to shift tofree admission. The number of publicmuseums in China is currently about3,000, and currently about 80 percent ofthem are free. The Shanghai TechnologyMuseum is among the few left withpaid admission.All the museums with top attendance onour lists are public institutions. However,we believe that private museums inChina, currently numbering about 500,will continue to grow as well. China’slarger public museums have access tothe most resources as they receive goodgovernment subsidies. The most favoredare provincial level museums withimportant, established collections ofhistorical artifacts, usually in connectionwith their particular region. Newregulations in China to treat privatelyowned museums by the same standardsas government owned museums will havea future impact.New directionsThroughout China and Asia there is anongoing building boom of museums,largely driven by government objectivesfor increasing the number of culturaldistricts and institutions. The trend is tobuild these museums larger and moreelaborately than existing facilities, andto bring in prominent architects. Aswith theme park development, thesenew museum projects are often tiedto larger land parcels and form partof mixed use endeavors. These newmuseum undertakings can be plaguedby insufficient budget allocation inareas not connected to building, comingup short of funds not just for themuseum’s collection but for operations,maintenance, marketing, staffing andeducational programming.There is still a learning curve for creatinga viable museum business model in muchof Asia, and we’re seeing experimentationwith adding commercial aspects andpartnering with new artists to obtainitems for collections. Some of these newprojects have designed in more space forthe general public to use, creating moreof a community environment.In keeping with the Chinese government’smission to show both the new and theold China to the world, and foster greaterunderstanding of the country, there arestrong programs and partnerships inplace to send exhibits overseas. East-West exchanges of exhibitions betweenmuseums in China and the U.S. was atopic of more than one session at recentmuseum industry conferences. However,a strong, organized presence for themuseum industry in China itself has yetto be developed.New museums or expansions,in Asia-Pacific regionSome examples of the rapidly developingand expanding museum industry inAsia include:– The Yuz Museum Shanghai, a privateart museum, opened in May 2014.– The Zhang Zhi Dong Modern IndustrialMuseum, Wuhan started constructionin 2014.– The Taipei City Museum of Art, aUS$69 million development with nearly475,000 square feet, is expected tobe completed in 2019, and will includea Museum of Contemporary Art,Children’s Museum of Arts, multipurposeperformance venue.– The National Art Museum of China,located in Beijing Olympic Park, willbe located in a new cultural districtand is expected to attract 12 millionvisitors annually.– The Shanghai Planetarium, anexpansion to the Shanghai Science andTechnology Museum to be designed byEnnead Architects, will be completedin 2018.– Hong Kong M+ Museum in the WestKowloon Cultural District, has recentlybegun construction, with nearly650,000 square feet, and is scheduledto be complete in 2018.– The Singapore government announcedexpansion plans for the NationalArt Gallery.7.6mNational Museum ofChina, Beijing, China,attendance 201442.7%Henan Museum, Zhengzhou,China, attendance growth2013–14-16.3%China Three Gorges Museum(Chongqing Museum),Chongqing, China, attendancechange 2013–14Throughout China and Asia there is anongoing building boom of museums.64 65

TOP 20 MUSEUMS NORTH AMERICA-2.6%1 MUSEUMSAN FRANCISCO, CAVISITORS (MILLIONS)Figure 13AUp to 2.5m2.5m–5m5m–7.5m7.5m +Top 20 museums North Americaattendance growth 2013–143 MUSEUMSCHICAGO, IL1 MUSEUMDENVER, CO812142 MUSEUMSLOS ANGELES, CA53.5m141314191 MUSEUMINDIANAPOLIS, IN1 MUSEUMHOUSTON, TXTop 20 museums NorthAmerica attendance 20149203 471 25 610 17 181154.9m1 MUSEUMBOSTON, MA3 MUSEUMSNEW YORK, N.Y.7 MUSEUMSWASHINGTON, D.C.Top 20 museums NorthAmerica attendance 2013Rank Museum and Location % change 2014 2013 Admission1 NATIONAL MUSEUM OF NATURAL HISTORY, -8.8% 7,300,000 8,000,000 FreeWashington, D.C.2 NATIONAL AIR AND SPACE MUSEUM,-3.9% 6,700,000 6,970,000 FreeWashington, D.C.3 THE METROPOLITAN MUSEUM OF ART,0.0% 6,280,000 6,280,000 PaidNew York, NY4 AMERICAN MUSEUM OF NATURAL HISTORY, 0.0% 5,000,000 5,000,000 PaidNew York, NY5 NATIONAL MUSEUM OF AMERICAN HISTORY, -18.4% 4,000,000 4,900,000 FreeWashington, D.C.6 NATIONAL GALLERY OF ART, Washington, D.C. -5.1% 3,892,000 4,100,000 Free7 THE MUSEUM OF MODERN ART, New York, NY 7.9% 3,020,000 2,800,000 Paid8 CALIFORNIA SCIENCE CENTER, Los Angeles, CA 0.0% 2,630,000 2,630,000 Free9 HOUSTON MUSEUM OF NATURAL SCIENCE, 11.2% 2,372,000 2,133,000 PaidHouston TX10 U.S. HOLOCAUST MEMORIAL MUSEUM,13.8% 1,564,000 1,374,000 PaidWashington, D.C.11 MUSEUM OF SCIENCE , Boston, MA 1.8% 1,446,000 1,420,000 Paid12 THE J. PAUL GETTY CENTER , Los Angeles, CA 6.3% 1,441,000 1,356,000 Free13 DENVER MUSEUM OF NATURE & SCIENCE, 10.0% 1,430,000 1,300,000 PaidDenver, CO14 THE ART INSTITUTE OF CHICAGO, Chicago, IL* -6.7% 1,400,000 1,500,000 PaidMUSEUM OF SCIENCE AND INDUSTRY,0.0% 1,400,000 1,400,000 PaidChicago, IL*CALIFORNIA ACADEMY OF SCIENCES,0.0% 1,400,000 1,400,000 PaidSan Francisco, CA*17 NATIONAL MUSEUM OF THE AMERICAN INDIAN, -4.6% 1,300,000 1,363,000 FreeWashington, D.C.18 UDVAR-HAZY CENTER, Washington, D.C. 0.0% 1,300,000 1,300,000 Free19 FIELD MUSEUM OF NATURAL HISTORY,-4.4% 1,229,000 1,286,000 PaidChicago, IL20 THE CHILDREN'S MUSEUM OF INDIANAPOLIS,Indianapolis, IN-0.4% 1,210,000 1,215,000 PaidTOTAL -2.6% 53,514,000 54,927,000Figure 13B*Ties are counted only once in total66 © 2015 TEA / AECOM© 2015 TEA / AECOM67

TOP 20 MUSEUMSASIA-PACIFICFigures 14A/14BVISITORS (MILLIONS)Figure 14A9.1%Up to 2.5m2.5m–5m5m–7.5m7.5m +9 MUSEUMSCHINATop 20 museums Asia‐Pacificattendance growth 2013–1411961 MUSEUMHONG KONG914757.8m114 512Top 20 museums Asia‐Pacificattendance 201428 163 MUSEUMSSOUTH KOREA101317 18315 203 MUSEUMSTAIWAN53.0m3 MUSEUMSJAPAN1 MUSEUMAUSTRALIATop 20 museums Asia‐Pacificattendance 2013Rank Museum and Location % change 2014 2013 Admission1 NATIONAL MUSEUM OF CHINA, Beijing, China 2.4% 7,630,000 7,450,000 Free2 NATIONAL PALACE MUSEUM (TAIWAN),Taipei, Taiwan3 SHANGHAI SCIENCE & TECHNOLOGYMUSEUM, Shanghai, China4 NATIONAL MUSEUM OF KOREA,Seoul, South Korea5 NATIONAL FOLK MUSEUM OF KOREA,Seoul, South Korea6 CHINA SCIENCE TECHNOLOGY MUSEUM,Beijing, China22.4% 5,402,000 4,412,000 Paid17.9% 4,220,000 3,580,000 Paid15.9% 3,537,000 3,053,000 Free20.9% 3,271,000 2,706,000 Free6.6% 3,218,000 3,020,000 Paid7 ZHEJIANG MUSEUM, Hangzhou, China 33.9% 3,023,000 2,258,000 Free8 NATIONAL MUSEUM OF NATURAL SCIENCE,Taichung, Taiwan-13.8% 2,927,000 3,396,000 Paid9 HENAN MUSEUM, Zhengzhou, China 42.7% 2,896,000 2,030,000 Free10 NATIONAL ART CENTER, Tokyo, Japan 1.6% 2,384,000 2,346,000 Paid11 NANJING MUSEUM, Nanjing, China (new) NA 2,360,000 NA Free12 NATIONAL PALACE MUSEUM OF KOREA,Seoul, South Korea13 NATIONAL GALLERY OF VICTORIA,Melbourne, Australia14 HONG KONG SCIENCE MUSEUM,Hong Kong SAR14.0% 2,106,000 1,847,000 Free4.8% 2,035,000 1,942,000 Free17.2% 2,015,000 1,719,000 Paid15 SHANGHAI MUSEUM, Shanghai, China 2.8% 2,001,000 1,946,000 Free16 NATIONAL SCIENCE & TECHNOLOGYMUSEUM, Kaohsiung, Taiwan-14.6% 1,934,000 2,265,000 Paid17 TOKYO NATIONAL MUSEUM, Tokyo, Japan 36.4% 1,915,000 1,404,000 Paid18 NATIONAL MUSEUM OF NATURE ANDSCIENCE, Toyko, Japan19 CHINA THREE GORGES MUSEUM(CHONGQING MUSEUM), Chongqing, China-26.6% 1,777,000 2,420,000 Paid-16.3% 1,700,000 2,030,000 Free20 SUZHOU MUSEUM, Suzhou, China 2.5% 1,481,000 1,445,000 FreeTOTAL 9.1% 57,832,000 53,024,000Figure 14B68 © 2015 TEA / AECOM© 2015 TEA / AECOM69

TOP 20 MUSEUMSEUROPE, MIDDLE EAST AND AFRICA8 MUSEUMSLONDON, U.K.2 35 69 1016 2013 142 MUSEUMSMADRID, SPAINVISITORS (MILLIONS)Up to 2.5m1 MUSEUMEDINBURGH, U.K.1815171 MUSEUMFLORENCE, ITALY1 MUSEUMAMSTERDAM,NETHERLANDS417 8 12191 MUSEUMVATICAN CITY111 MUSEUMST PETERSBURG,RUSSIA5 MUSEUMSPARIS, FRANCERank Museum and Location % change 2014 2013 Admission1 LOUVRE, Paris, France -0.4% 9,300,000 9,334,000 Paid2 BRITISH MUSEUM, London, U.K. -0.1% 6,695,000 6,701,000 Free3 NATIONAL GALLERY, London, U.K. 6.4% 6,417,000 6,031,000 Free4 VATICAN MUSEUMS, Vatican City 13.2% 6,177,000 5,459,000 Paid5 TATE MODERN, London, U.K. 18.4% 5,785,000 4,885,000 Free6 NATURAL HISTORY MUSEUM, London, U.K. 2.6% 5,388,000 5,250,000 Free7 MUSEE D'ORSAY, Paris, France 0.5% 3,500,000 3,482,000 Paid8 CENTRE POMPIDOU, Paris, France -7.9% 3,450,000 3,745,000 Paid9 SCIENCE MUSEUM (SOUTH KENSINGTON),London, U.K.1.2% 3,356,000 3,317,000 Free10 VICTORIA & ALBERT MUSEUM, London, U.K. -3.3% 3,180,000 3,290,000 Free11 STATE HERMITAGE, St Petersburg, Russia 4.1% 3,248,000 3,120,000 Paid12 CITE DES SCIENCES ET DE L'INDUSTRIE,Paris, France4.0% 2,674,000 2,570,000 Paid13 REINA SOFIA, Madrid, Spain -19.2% 2,574,000 3,185,000 Paid14 MUSEO NACIONAL DEL PRADO,Madrid, Spain10.0% 2,537,000 2,307,000 Paid15 RIJKSMUSEUM, Amsterdam, Netherlands 11.4% 2,450,000 2,200,000 Free16 NATIONAL PORTRAIT GALLERY, London, U.K. 2.4% 2,063,000 2,015,000 Free17 GALLERIA DEGLI UFFIZI, Florence, Italy 3.2% 1,936,000 1,876,000 Paid18 NATIONAL MUSEUM OF SCOTLAND,Edinburgh, U.K.-7.2% 1,640,000 1,768,000 Free19 MUSEE DE L’ARMEE, Paris, France 10.9% 1,525,000 1,375,000 Paid20 NATIONAL MARITIME MUSEUM, London, U.K. 5.4% 1,516,000 1,438,000 FreeTOTAL 0.8% 75,411,000 74,808,000Figure 15B2.5m–5m5m–7.5m0.8%75.4m74.8m7.5m +Top 20 museums EMEAattendance growth 2013–14Top 20 museums EMEAattendance 2014Top 20 museums EMEAattendance 2013Figure 15A70 © 2015 TEA / AECOM© 2015 TEA / AECOM71

About this studyMethodology and evolution ofthe TEA/AECOM Theme Indexand Museum IndexThis is the ninth annual Theme Index andMuseum Index collaboration between theThemed Entertainment Association (TEA)and AECOM, although the study itself hasbeen in existence for much longer. Thereport has evolved over the years, startingas just a report on major U.S. theme parks,with additional regions (EMEA, Asia, LatinAmerica) and attraction types (waterparks, museums) added over time. It isof course a significant effort to preparenow, with 190 attractions included in thereport, and many more tracked annually.Inclusion in the annual Theme Indexand Museum Index is now seen as abenchmark of success among operators,parks, and museums. Every year AECOMhears from parks and museums desiringto share their attendance increases andearn a place on the list. Those who believetheir properties should be included inthe report are encouraged to contactthe AECOM office in their region, afterstudying the criteria for considerationgiven below. The more feedback andinformation we receive, the more accuratethis report will become.AECOM obtains the figures used tocreate the TEA/AECOM Theme Indexand Museum Index through a variety ofsources, including statistics furnisheddirectly by the operators, historicalnumbers, financial reports, theinvestment banking community, localtourism organizations, and professionalestimates where necessary. The globalmarket is studied as a whole, and each ofits main regions is also studied separately:the Americas, EMEA, and Asia.For a theme park or water park to beincluded in the report, at a minimumthe property must be gated (entry ticketrequired) and the park generally mustbe focused on the visitor experience.To be included on the top chains list, achain operator must have theme parks inits portfolio.Frequently Asked QuestionsWhy should parks share their numbers?When operators share their informationit is good for the industry. It ties directlyinto re-investing wisely in ways that bringin more attendance and more repeatvisitation, driving revenue and profits.Tracking differences and fluctuations inattendance helps the industry recognizewhat drives changes in attendance.Knowing what works, what doesn’twork — and where and why — allowsoperators to make wise investmentdecisions and to know what results can beexpected. That’s the heart of market andfeasibility analysis.Do some operators exaggerate inorder to look more successful?What can you do about that?Our role is to share what the industryoperators say officially or, if thatinformation is not provided, to share ourbest estimate based on information thatwe do know as well as our professionalexperience. It’s possible that someare over-reporting their numbers. Wecan’t control that. However, all of themajor operators are publicly ownedand therefore obliged to report totalattendance and financial performanceinformation at the corporate level, even ifthey don’t break it down to the park level.Over-reporting may get an operatortemporarily higher on the list than itscompetitors, but it will cause problems,some in the near term and others downthe road. In the near term, if attendanceis up but revenues or profitability are not,it raises questions. In the longer term,eventually, they’ll hit a point where thenumbers are too far off to be believable.Misrepresenting also complicates thepicture if the company eventually goespublic, or is acquired or wants to sell off anindividual property. Operators know this.Misreporting also raises falseexpectations. If you’re trying to makean investment decision and forecastfuture performance, you need accurateinformation. If a property is not investingin regular improvements, yet reportsthat numbers are stable or growing, thenumbers are suspect. Moreover, it’s notthe kind of secret that can be kept forlong. People move from one operator toanother and they take that knowledgewith them. Consultants are called upon tohelp interested parties evaluate ongoingoperations as well as potential newinvestments and activities.In other words, over-reporting willeventually come to a point of correction.Our advice is to trust the process.How do you estimate figures forindividual parks and museums thatdon’t report them?Fortunately, with more than 50-yearsexperience working in the attractionsindustry, AECOM’s Economics practicehas a strong understanding of whatdrives performance at the park level anda robust process to estimate attendancewhere necessary.The following outlines our general process:– We start by reviewing publicly availableinformation about the performanceof the multi-park/attractionoperators and also the individualparks/museums. We also reviewinformation that we have collected aspart of the previous year’s report andthroughout the year.– Where park/museum-level informationis missing, we then ask the multi-parkoperators and the individual parks/museums to provide us with theirattendance figures, and many of themdo so directly.– Where we do not receive specificpark/museum-level figures fromthe operator, we use a detailedmethodology that considers thefollowing: historic attendance trends atthe park/museum; generally availableinformation on the park/museum and/or operator; park/museum changes,such as new rides, areas, shows,exhibits, ticket prices, intellectualproperty connections, etc.; generaleconomy of the nation and the specificmetropolitan area; tourism trends72 73

nationally and in the metropolitanarea; for parks, weather trends in thearea, particularly during peak periods;the performance of nearby parks/museums and other attractions;media coverage about the operator/park/museum; and select factorsas relevant.– Park/museum operators are also giventhe opportunity to review and commenton AECOM’s estimate before the ThemeIndex and Museum Index are finalizedand published. Of those that don’tprovide official figures at the park/museum level, we generally receivesome form of feedback regarding theindividual parks/museums. Leadershipat TEA (the Themed EntertainmentAssociation, which publishes and helpsedit the report) plays an important rolehere, encouraging responses.– As the leading provider of businessplanning studies worldwide forattractions, our group also worksfrequently with all of the majoroperators, parks, and museums,providing us with the opportunity toperiodically compare our estimateswith actual exact figures. We usethis to adjust our methodologywhere necessary.– As part of our active work in thesemarkets and our awareness ofwhat drives performance and themacroeconomics of different countries,we visit the parks and museums,watching for new development andtrends. We help to bring professionalprocesses to the industry so thata higher level of quality can betransmitted from more developedmarkets into emerging markets. Wefrequently work for operators whoare looking to enter the attractionsbusiness, or to grow or improve theirexisting operations. We also teamwith attraction master planners anddesigners to help correctly position andright-size parks and museums to matchtheir market potential and optimizetheir financial performance.What causes wide swings in performanceat parks and museums?As can be seen from the process outlinedabove, there are a lot of factors affectingthe performance of a park or museum,including past performance, newofferings, the economy, tourism, weather,media coverage, management, and more.Typically, large changes in attendance,up or down, are driven by major changesin one or more of these factors, with therelationship between the two frequentlyclear when examined in detail.How is a water park defined for thepurposes of the Theme Index?A water park must have a minimum ofthree water slides / flumes, a wave pool,retail and food areas, and at least two ofthe following other elements: tube rides;free-form pool; lazy river; and kids waterplay area. In Asia and America, the waterparks are defined as outdoor facilities.Why aren’t other attraction typesincluded, such as zoos and aquariums,observation experiences, and sports andperformance venues?The report has evolved over the years,starting as just a report on major U.S.theme parks, with additional regions(EMEA, Asia, Latin America) and attractiontypes (water parks, museums) added overtime. That said, we are indeed consideringadditional attraction types and willinclude these as interest is shown andresources allow.We just saw the first major terrorismincident this year at an attraction,the Bardo Museum in Tunisia. Is thissomething the industry should beconcerned about?We think the industry has been concernedabout it for some time, and has quietlybeen taking steps to ensure the safety andsecurity of its visitors.Is the Asian market on a path tosaturation? So many projectsare being announced.China still has quite a way to grow as doSouth East and South Asia. Demand fromthe market, population and tourism areall in a growth cycle. Smarter playersunderstand the potential and the marketis moving up to a better quality product.This is a boom time and likely to continuefor another five years — and within itthere will be great successes and failures.There will always be projects that don’tsucceed for one reason or another, suchas poor concept, poor location, or underfunding. There will be failures in themarket when projects are done for thewrong reasons.How can so much growth (inAsia) be sustained?In China alone, there are about 200cities with a population of one millionor higher. That’s not even consideringBeijing or Shanghai. In the US, virtuallyevery city with the equivalent populationhas a theme park or water park or similarkind of attraction. By this gauge, it is notsurprising that China alone can supportsignificant numbers of new parks.How does Asia’s growth compareto the way the theme park industrydeveloped in the U.S.?The difference is the scale and rapidityof growth, which is currently fueled byrapidly increasing income levels and agrowing middle class. The developmentis also driven by government, whichsees tourism, culture and theme parksas a good industry bet compared tosmokestack industries. Growing theservice economy, domestic tourismand domestic consumption are seen asemployment generators. Government onall levels are encouraging the developmentof the themed entertainment industry inChina and Asia.At what point will the Asian marketovertake The Americas?We’ve forecast that will happen by 2020.It may be a little earlier than that; once wesee Disney Shanghai and Universal Beijingopen, we may revise the forecast.74 75

TEA and AECOM express thanksto the numerous park and museumoperators who graciously andgenerously furnished attendanceinformation, enabling this report to beas complete and accurate as possible.About AECOMAECOM is a premier, fully integrated professional and technicalservices firm positioned to design, build, finance and operateinfrastructure assets around the world for public- and private-sectorclients. With nearly 100,000 employees — including architects,engineers, designers, planners, scientists and management andconstruction services professionals — serving clients in over 150countries around the world, AECOM is ranked as the #1 engineeringdesign firm by revenue in Engineering News-Record magazine’sannual industry rankings. The company is a leader in all of thekey markets that it serves, including transportation, facilities,environmental, energy, oil and gas, water, high-rise buildingsand government. AECOM provides a blend of global reach, localknowledge, innovation and technical excellence in deliveringcustomized and creative solutions that meet the needs of clients’projects. A Fortune 500 firm, AECOM companies, including URSCorporation and Hunt Construction Group, have annual revenue ofapproximately $19 billion.More information on our services can be found at www.aecom.comand from the contacts noted on the inside cover.Follow us on Twitter: @aecomAbout TEAThe TEA (Themed Entertainment Association) is an internationalnonprofit alliance founded in 1991 and based in Burbank, Calif.TEA represents some 8,000 creative specialists, from architectsto designers, technical specialists to master planners, scenicfabricators to artists, and builders to feasibility analysts workingin some 1,000 firms in 40 different countries. TEA presents theannual Thea Awards and the TEA Summit and hosts the annualSATE conference (Story, Architecture, Technology, Experience). TEAalso produces a variety of print and electronic publications, and ispleased to collaborate with AECOM for the 9th consecutive year onthe TEA/AECOM Theme Index and Museum Index.Visit www.TEAconnect.org. On Twitter: @tea_connect.teaconnect.orgaecom.com/themeindexaecom.com aecom.com/museumindexv1.176