Observing the data, it is evident that total visits, and indeed total economic impact per head of population, is much lower across Southern than Northwestern Europe but not miles away from Central Europe. There are some of Europe’s biggest theme parks in Spain and Italy including PortAventura, Parque Warner, Gardaland and Mirabilandia but the beach represents a fierce competition to any commercial leisure development – this needs to be accounted for when projecting demand. Across the other countries there are fewer major parks due to a mixture of modest populations and less mature markets. At LDP we recognise there are untapped opportunities across some areas, including for instance Lisbon and Athens. Islands Cyprus and Malta, both islands, are also included within our Southern European grouping but should perhaps be considered in a different light. Island nations (and we should include Spain’s Balearics and Canary Islands within this sub group) are characterised by small populations outweighed by much larger international tourist markets. Attractions in these locations must pay special attention and provide an offer that appeals to
the profile of the tourist markets, considering seasonality, length of stay, purpose of visits, origin and demographic profile. Water parks are a particular feature of these markets (examples include Siam Park in Tenerife and WaterWorld in Cyprus) which appeal directly to the holidaymakers in these markets. Whilst in a very different part of Europe, Iceland adheres to the same rules. Lacking large-scale parks due to its smaller population, it is home to standout tourist-focused experiences such as FlyOver Iceland and the world-renowned Blue Lagoon both doing extremely well suggesting opportunities for further leisure developments. Eastern Europe As key population centres in Eastern Europe are engulfed by a conflict with limitations on inward and outward travel, we await the resolution to conduct our analysis. This said, with restricted border movements and a stronger need for escapism there are leisure opportunities for domestic investors in safer areas. One group of countries stands out, however – the Baltics. Data indicates that despite the lack of theme
averaged 3.6% annually since 2010, supporting increasing demand for leisure experiences and a diverse range of attractions. With rising incomes and relatively underdeveloped supply, Central Europe offers significant opportunities for attractions of all sizes. This opportunity extends to both existing local operators looking to expand or diversify their offerings and to new entrants looking to establish a presence in new markets. For international brands and investors, partnering with experienced in-country partners can offer valuable local insight and help to navigate regulatory environments. That said, price sensitivity remains a key consideration in many areas, particularly for larger, capital-intensive projects. Southern Europe Our Southern Europe grouping includes a wide array of countries stretching from the western most point to the southeastern tip of the continent and are broadly bound together by enveloping the Mediterranean. Climate (and perhaps some other characteristics of the peoples) is the obvious commonality, and most countries tend to have a greater reliance on tourism than other, more northern regions.
Attractions in the island locations must pay special attention and provide an offer that appeals to the profile of the tourist markets, considering seasonality, length of stay, purpose of visits, origin and demographic profile. parks, Latvia, Lithuania and Estonia are showing the level of visitation per resident on par with Southern and Central Europe. With quite a few waterparks in key cities and on the Baltic coast, this shows a strong appetite for affordable leisure. With GDP per capita not dissimilar to Spain, Greece, Poland or Portugal, there are bound to be opportunities for good quality, appropriately scaled attractions.
Gardaland, Italy
International tourism levels, Islands 2024
Residents
Tourists
International tourists per resident
3.1
76%
Cyprus
4.0
80%
Malta
8.0
Canary Islands
89%
12.4
93%
Iceland
0
5,000,000
10,000,000 15,000,000 Available market, number of people
20,000,000
25,000,000
Source: Eurostat
12 THE EXPERIENCE ECONOMIST: EUROPE EDITION 2025 | © LDP
THE EXPERIENCE ECONOMIST: EUROPE EDITION 2025 | © LDP 13
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