The Evolving landscape of entertainment in business: Wuthichai Luangamornlert on Asia’s limitless potential and IAAPA Expo’s return to Thailand
By News Release | May 22, 2024
BANGKOK, Thailand — In my role as Chairman of IAAPA, the leading global association for the attractions industry, I’ve had the privilege of observing the Asia’s growth firsthand. Despite recent global challenges, the region has shown impressive resilience and strong recovery, with the attractions industry not just surviving but thriving. However, this exponential growth is not just limited to the attractions industry, as a growing demand for unique and immersive experiences is quickly spreading across the region, which has made Asia a prime market for growth and future investment. Whether at a shopping center, a luxury hotel, or even when dining out, the latest innovations are creating new ways for businesses to interface with customers and build new roadmaps for success.
Having spent my entire career in this vibrant region I call home, I’ve seen firsthand the limitless potential Asia holds for businesses and investors. A burgeoning middle class, a growing pool of highly skilled professionals, and a rapidly evolving business landscape are the key ingredients that are making Asia a hotbed for growth and innovation. As the region continues to grow and both domestic spending and international travel increases, there is an opportunity here to further elevate attractions, entertainment, and tourism within this unique market. It’s for this reason that I feel now is the perfect time to bring IAAPA Expo Asia back to Thailand for the first time in 17 years!
From May 27-30, IAAPA will host IAAPA Expo Asia 2024 at the Queen Sirikit National Convention Centre in Bangkok, Thailand. This globally recognized trade show is finally returning to the Land of Smiles, offering businesses and attendees a glimpse into the future of destination entertainment as well as a platform to unlock their business potential thanks to our numerous global partnerships, education sessions, and networking opportunities. Whether you’re in the attractions industry or otherwise, IAAPA Expo Asia can help you discover new ways to blend entertainment and business, which is quickly becoming a modern path to success. My team and I can’t wait for the region’s business owners and entrepreneurs to unlock the next step in their business evolution at this exciting event, so let’s dive into the opportunities that await.
A Snapshot of Asia’s Booming Attractions Industry
Asia’s attractions industry has seen remarkable growth in recent years. From amusement parks to cultural attractions, the industry has become a major contributor to the region’s tourism sector, generating billions of dollars in revenue and creating thousands of jobs. In fact, Asia is now the largest market for amusement and water parks in the world, with China alone accounting for more than half of all new park openings worldwide! This year, amusement park spending is expected to increase 16.5% within the region and double-digit spending growth is projected through to 2027.
Asia’s cultural attractions, such as museums and historical sites, have also seen significant growth, attracting both domestic and international visitors. In addition, entertainment facilities, such as indoor activity centers and aquariums, are continuing to grow in popularity and regular foot traffic. The region holds enormous potential for high-impact growth and Asia’s attractions industry is poised for continued success in the years ahead.
However, this growth also presents challenges for industry players, with the need to constantly innovate and adapt to changing consumer preferences while ensuring safety protocols, sustainable development, and responsible tourism practices. Through our work with industry partners and stakeholders, IAAPA is committed to supporting industry growth in Asia and delivering the best pathways to drive forward shared successes.
Why IAAPA Expo Asia 2024 is a Game-Changer
IAAPA’s distinctive trade shows are a key component of the association’s efforts to support the growth and success of the industry. These events bring together leaders, experts, suppliers, manufacturers, and numerous other stakeholders to showcase the latest technologies and products, share best practices, and explore new business opportunities.
One of the most important benefits of IAAPA Expo is the opportunity it provides for attendees to discover new ways to enhance their profitability and evolve their businesses. From adopting cutting-edge innovations to learning about brand licensing, innovative food and beverage offerings, and merchandising strategies, IAAPA’s trade shows offer a wealth of ideas and insights that can help businesses stay ahead of the curve and meet the needs of an ever-changing business landscape.
IAAPA Expo Asia 2024 is set to bring some of the world’s most accomplished global exhibitors to showcase the latest technologies that are pushing the boundaries of entertainment, from immersive experiences to interactive tools and groundbreaking AI applications that are redefining business strategies. Not only that, but the education component of the expo gives attendees the chance to learn straight from the region’s experts as well as get behind-the-scenes tours and insights at some of Thailand’s premier amusement parks and entertainment facilities.
Most importantly, I simply cannot understate the value IAAPA’s trade shows bring by providing a platform for industry players to connect with one another and build invaluable relationships. We have helped facilitate numerous collaborations, enabling businesses to enhance their offerings and reach all new audiences. By bringing together state-of-the-art technologies and the best players in the industry at these landmark events, we have fostered collaborations, elevated businesses, and truly created shared successes across industries.
Shape Your Evolution at IAAPA Expo Asia 2024
IAAPA Expo Asia 2024 is more than just an event; it is an opportunity to shape your evolution. Consisting of a 7,800 sqm trade show floor packed with over 350 exhibiting manufacturers and suppliers, as well as extensive educational sessions from industry leaders and experts, the event will provide a firsthand look at the future of destination entertainment and actionable business strategies. So, whether you want to take your business to the next level or just want to try out some of the amazing entertainment technologies that will be on display, I very much hope to see you there!
