The Next Wave: Forecasting the Hot Trends of 2024
Image Credit @ O2 Surftown Munich

The Next Wave: Forecasting the Hot Trends of 2024

July 2023 marked my one-year anniversary of living in Dubai, which has not only been a personal milestone but a time of profound learning and excitement for the future. Throughout this inaugural year, I've further immersed myself in the world of EMEA attractions, witnessing trends gaining momentum. Now, as I reflect on the key trends that defined the sector in 2023, it's evident that these will continue to shape the industry's trajectory in the coming year, 2024. Here’s a peek into what I have been seeing in the market that I think will continue into the year to come.


Image Credit

?

Middle East's Surfing Surge

Following its debut in the 2020 Summer Olympics in Japan, surfing has experienced a significant uptick in interest, expanding its appeal from North America to the Middle East. We are seeing the demand for in-land surf parks with waves on demand all over the world, from Portugal's recently unveiled plans , Surf City Lisbon, to the nearly completed development, O2 SURFTOWN MUC in Munich , the sport's success seems rooted in its versatility, catering to a wide range of individuals with varying skill levels. Whether someone is a beginner dipping their toes into the sport or an entrepreneur aiming to create the next popular attraction, surfing is diversifying its allure.

?

While the larger in-land surf lagoon creates an experience very similar to the ocean, those looking to try their hand at the sport can still do so in a smaller footprint. With the recent collaboration between FlowRider? and Hydrostadium , real surfboards can now be used on stationary wave attractions such as FlowSurf?. Right here in the GCC (Gulf Cooperation Council) ?we will have the opportunity to do just that, as the Saudi Entertainment Ventures (SEVEN) team will soon have three Flow House venues, located in Riyadh, Khobar, and Jeddah. Offering a unique surfing experience to the Kingdom, Flow House will serve as global entertainment hubs, giving visitors the opportunity to enjoy food and beverages while relaxing and watching the surfers take on the challenge of riding the waves.


?The Resurgence of In-Person Meetings

Although Teams meetings have become the norm because of the convenience they provide, we are seeing an increase in demand for in-person meetings with companies prioritizing people to people interactions. Screens help to provide flexibility, but companies are slowly but surely requiring their team members to return to the office at a minimum on a hybrid scale. According to CNBC, 90% of companies say they’ll return to the office by the end of 2024. We are also seeing this with MENALAC ’s increased social calendar, offering more in-person meetups than ever before. The demand for human connection is at an all-time high, with data proving the positive effect of good personal relationships on our happiness and physical health and that productivity, collaboration, and employee engagement all suffer without the office . What’s happening inside an organization will be felt on the outside by customers, so the importance of developing company culture and bringing people together in person will most certainly carry over into 2024.


Image Credit

?

Sustainability and Longevity for Future Generations

COP28 met this month in Dubai, strategizing how to achieve net zero and carbon neutrality. In alignment with this mission, the attractions sector has followed suit really looking at how we can share best practices and work collectively to minimize our environmental impact. From tracking carbon emissions and instituting attendance limits to adopting solar energy and fostering recycling initiatives, our industry is steadfastly working towards a sustainable future. One of the biggest focuses to come from this shift is the demand from buyers for longevity. There is an expectation that developers will be able to get long-term value from their investments. We see Miral looking to the next 15 to 20 years of their Yas Waterworld? Yas Island, Abu Dhabi park with the recent announcement of expansion, identifying ways they can refresh their attraction offerings and complement the existing rides in the park. Wild Wadi is putting in the work to ensure their attractions are properly resurfaced and cleaned so they operate as well as they do today as when the park opened its expansion back in 2005. The expectation for the attractions industry will only continue to grow as we move forward to identify ways to promote longevity and identify sustainable practices that can be implemented in order to protect the next generation of fun seekers.

?

Technology & the Evolution of Water Park Experiences

The integration of technology into water parks isn’t a new concept. We have long talked about how to streamline the ticketing process and facilitate contactless operations at park entrances. However, this trend has recently extended beyond mere queuing processes, making its mark on the products offered within water parks as well. In early 2023, the WhiteWater team unveiled Studio City in Macau, showcasing revolutionary fiberglass effects to produce metallic finishes customized to mirror the building’s aesthetics. This pioneering technology premiered in the indoor water park, adding an unprecedented touch of elegance to align with the building’s bold geometries and intricate detailing, resulting in a level of sophistication unparalleled in any other water park worldwide.


Credit

?

This isn't the sole technological advancement in the realm of water parks. WhiteWater also collaborated with the iSlide team to infuse various technological elements within the water slides at Meryal . This included the projection of images into the interior of the Abyss water slide, the use of external lights on various attractions, and the integration of music. This development is particularly thrilling in the GCC countries, where evening events, ranging from ladies nights to special ticketed gatherings, are commonplace due to the warm nighttime temperatures and enables the opportunity for these additional effects to create a different experience than the daytime, helping parks to drive their gate sales in a different way.


Credit Islide

Optimism for 2024

Entering 2024, I anticipate these trends will persist, continuing to shape the Middle East attractions industry into a dynamic landscape marked by innovation, sustainability, and a heightened focus on human connections. The sector stands at the threshold of an exhilarating chapter, with upcoming gigaprojects poised to open and reshape the entire attractions world, and I am eagerly looking forward to witnessing these projects unfold.

Jeff McDermott

Venture Building | Startup Studios | Fund of Funds | GP Stakes | Venture Capital | Real Estate | ALTS for all

11 个月

I saw a whole ecosystem with a wave park, lazy river, waterslides, short term rentals and a golf course... Heaven!

要查看或添加评论,请登录

社区洞察

其他会员也浏览了