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Positive Outlook for Global Entertainment & Media Industry
PricewaterhouseCoopers has released its latest report on the Global Entertainment and Media industry which projects the industry will enjoy an average annual growth rate of 6.3 percent, with spending due to increase from $1.2 trillion in 2003 to $1.7 trillion in 2008. The Global Entertainment and Media Outlook 2004-2008 goes on to report the expectation of promising figures for world wide theme and amusement parks' in the next few years. Following the first decline in attendance at U.S. parks in recent years, the Outlook predicts attendance figures in the States will rebound from 322 million in 2003 to 348 million in 2008, a 1.6 percent compound annual growth rate. The report suggests that improving economic conditions in Europe, the Middle East and Africa will "stimulate discretionary spending and lead to a turnaround in theme park attendance beginning in 2004." The Outlook forecasts good news for Canada, with new rides, attractions and park openings in the Country set to boost smaller parks. It also envisages Latin America will enjoy modest increases in attendance and per capita spending at its theme parks, following the Nation's improved economic conditions and efforts to promote tourism. Unfortunately for the Asia / Pacific regions, the report expects the effects of recent and continued near-term economic problems in the regions, combined with decreased travel related to fear of terrorism, will curtail growth in these areas in 2004.
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