With a turnover of USD365.8 billion in 2021, Asia Pacific was the world’s second largest region for recreation, entertainment and arts. Over the next decade, the region’s entertainment industry is poised to grow at the fastest rate, nearly closing the gap with Western European turnover levels by 2030. Recovering tourism, growing investments and economic expansion are set to drive the entertainment industry’s growth in Asia Pacific, with China remaining in the lead.
This report comes in PPT.
The recreation, entertainment and arts industry in Asia Pacific is forecast to grow at the fastest rate globally and account for nearly one third of the global entertainment industry’s turnover by 2030. In fact, by 2030, the industry’s turnover is expected to almost close the gap with Western Europe. An expanding number of middle-class consumers, rising incomes and a growing tourism sector are expected to drive the industry’s growth in the region.
China is anticipated to remain in the leading position in terms of absolute values of recreation, entertainment and arts services in Asia Pacific over the period to 2030. Digital solutions for the entertainment industry are expected to increase, going forward, raising the interest in traditional cultural activities such as museums and libraries in the country.
Interest in sporting events and activities is rapidly increasing in Asia Pacific due to a large share of young consumers, a rising focus on physical wellness and health, and the expanding popularity of Western sport leagues and clubs in Asia. In fact, sporting and recreation services are forecast to remain the largest category in the entertainment industry in Asia Pacific, with anticipated turnover of USD255.3 billion by 2030.
Japan is set to remain the second largest country in the region regarding the recreation, entertainment and arts industry’s turnover during the period to 2030. However, the industry’s growth in Japan is anticipated to be slow, with turnover remaining below pre-pandemic levels over the outlook. The rapidly ageing population is expected to show less interest in spending on entertainment services. In addition, slow growth in incomes and persisting labour shortages will also contribute to the industry’s sluggish growth in Japan.
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