Visitor behaviour and profitability of Turkmenbashi World of Fairytales in Turkmenistan

Abstract

Purpose

This paper aims to discuss visitor behaviour and net present value (NPV) of the only theme park in Turkmenistan – Turkmenbashi World of Fairytales.

Design/methodology/approach

Visitor behaviour, in terms of allocating time and expenditure to different parts of the theme park, is analysed using time and cost blocks. The data from a questionnaire answered by 317 visitors are employed in the descriptive analysis of visitor behaviour. The data on visitor behaviour are also incorporated into an estimation of the theme park’s net present value, as well as its sensitivity and scenario analyses.

Findings

The results show that the park is mostly visited by young people, at the time before noon or after 4 p.m. A majority of the visitors do not spend a significant amount in the theme park. Hence, achieving positive NPV may require improved revenue growth.

Originality/value

Turkmenbashi World of Fairytales is one of few publicly owned theme parks in the world. This provides a unique opportunity to test if positive NPV plays any role in construction of a public theme park.

Citation

Nuryyev, G. and Achyldurdyyeva, J. (2015), "Visitor behaviour and profitability of Turkmenbashi World of Fairytales in Turkmenistan", Journal of Hospitality and Tourism Technology, Vol. 6 No. 1, pp. 73-88. https://doi.org/10.1108/JHTT-01-2015-0006