Amusement industry to see investment of Rs 10,000 cr by 2020
Currently, the over 150 amusement, water and snow parks in the country see footfalls of 50 million visitors annually.
By PTI |
NEW DELHI: Investments to the tune of Rs 10,000 crore are likely to flow into the domestic amusement and leisure sector by 2020 with about 500 new parks are expected to come up across the country by then, an industry body has said.
"The Rs 4,000-crore Indian amusement and leisure industry expects fresh investment of Rs 10,000 crore by the year 2020. In terms of employment generation, the new parks are likely to create jobs for six crore man-hours per month," Indian Association of Amusement Parks and Industries (IAAPI) President V G P Ravidas said in a statement.
The domestic industry is estimated to grow by six per cent per annum till 2009-10. Currently, the over 150 amusement, water and snow parks in the country see footfalls of 50 million visitors annually.
The government should reduce entertainment tax and confer industry status to the Indian amusement industry, making it an integral part of the tourism department at the Centre, he said. Factors such as monsoon and cold weather affect the industry and in a year, only 100 days are the 'peak season' for the parks, he added.
"The Rs 4,000-crore Indian amusement and leisure industry expects fresh investment of Rs 10,000 crore by the year 2020. In terms of employment generation, the new parks are likely to create jobs for six crore man-hours per month," Indian Association of Amusement Parks and Industries (IAAPI) President V G P Ravidas said in a statement.
The domestic industry is estimated to grow by six per cent per annum till 2009-10. Currently, the over 150 amusement, water and snow parks in the country see footfalls of 50 million visitors annually.
The government should reduce entertainment tax and confer industry status to the Indian amusement industry, making it an integral part of the tourism department at the Centre, he said. Factors such as monsoon and cold weather affect the industry and in a year, only 100 days are the 'peak season' for the parks, he added.
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He further said measures need to be taken to attract more foreign visitors to the amusement parks.
The association is organising IAAPI Trade Show 2008 in Mumbai from February 14. The three-day event would see participation of over 50 exhibitors from Argentina, Belgium, Canada, China, Dubai, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, Thailand, the US and the UK.
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