It's not just in the sea anymore: the popularity of this aquatic discipline is growing internationally and is driving the growth of the surf park industry.
The popularity of surfing is on the rise: According to the Sports and Fitness Industry Association (SFIA), is one of the fastest growing water sports in popularity globally (+28.5% recorded in the USA in 2023). Surfing's international appeal has also been boosted by its inclusion in the Tokyo 2021 and Paris 2024 Olympic Games. Brazilian surfer Italo Ferreira, a gold medallist in Tokyo, has seen his following grow by more than one million, proving that world-class performances can be made, raising the 'status' of a sport and attracting new fans.
This trend favours the surf park sector, where more and more structures are equipped with artificial waves. Surf Park Central estimates that the global surf waterpark market will expand at an annual rate of 11.5% until 2028, when it is expected to be worth around US$3.8 billion. Developers and investors should be aware of some important current trends:
- technological reliability: advances in this area are proving crucial to the success of these parks, and recent problems at popular attractions such as the Palm Spring Surf Club are the most concrete evidence of this;
- sustainability: the growing attention to this issue and its practices is evident. A survey conducted by Surf Park Central on consumer habits indicates that 90% of surfers prefer sustainable parks and are also willing to pay more. Launched in 2021, the STOKE (Sustainable Tourism and Outdoors Kit for Assessment) standard is becoming an important benchmark;
- multifunctionality: surf parks are increasingly integrated into contexts that include hotels, residential areas and commercial spaces. This is a strategy that increases their attractiveness and thus their sales potential.
- Institutional investment: Surf parks are the subject of increasing interest from institutional investors and real estate trusts. These projects require the allocation of large amounts of capital (from $40 million to over $350 million) and very flexible business models and detailed feasibility studies.
- accessibility and diversity: openness to an ever wider public is demonstrated by the offer of programmes for surfers with the most diverse needs, as well as events such as the World Para Surfing Championships promoted by the International Surfing Association.
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