Bahrain-based Gulf Finance House (GFH) has teamed up with Six Flags to develop theme parks in China as the companies look to tap into the country’s booming tourism industry.
The Islamic investment bank said on Tuesday it has signed a one-year exclusivity agreement with the US theme park operator that gives it the right to develop theme parks in the People’s Republic.
GFH said the companies may also develop a Six Flags themed luxury resort, without giving any further detail.
“The agreement will lead to the development of an exciting, one of a kind tourist destination in China that is set to draw travelers from all around the globe,” GFH Acting CEO Peter Panayiotou said in a statement.
China’s travel and tourism industry generated $353.7 billion in 2006 and is expected to grow to $1.3 trillion in 2016, according to the World Travel and Tourism Council.
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