MAM
The evolution of theme parks: A game-changer in amusement industry development
Mumbai: In our modern, fast-paced world, the entertainment industry is always changing to match the evolving tastes of both adventure enthusiasts and families. A particularly exciting and imaginative idea that has emerged recently is the theme park – a revolutionary concept that has completely transformed how we enjoy entertainment.
Theme Parks: A new dimension of entertainment
Theme parks have revolutionised the amusement industry by providing immersive experiences that cater to individuals of all age groups. Their substantial growth and revenue generation underline the immense popularity of such experiences. This shift indicates a strong preference among audiences for complete engagement in diverse adventures.
Why theme parks are gaining popularity
1. Creating Stories: Theme parks go beyond rides, telling exciting stories around their attractions. This kind of storytelling creates emotional connections, making the experience memorable. Whether it’s fantasy, history, or space adventures, theme parks offer an exciting escape from reality.
2. Family Fun: Families enjoy theme parks because they offer something for everyone. From thrilling rides for the brave to gentle attractions and play areas for kids, there’s something enjoyable for every family member.
3. Learning and Enjoyment: Many theme parks combine fun with learning, sharing history, science, art, and culture in an entertaining way. This mix provides a fun experience that also teaches something new.
4. Moments to Cherish: Theme parks create shareable moments perfect for social media. The desire to join the fun and the fear of missing out motivate people to visit and share their adventures online, boosting the parks’ popularity.
5. Theme amusement parks are distinctly different from any other form of leisure & entertainment as it offer interactive and participative forms of entertainment in a safe & environment-friendly atmosphere.
6. Theme parks are revolutionary as these are nowadays based on various innovative themes ranging from Children entertainment to Family attractions and Water/Snow games. Indoor amusements to science parks offering edutainment. Adventure sports are also based on various themes. History and general knowledge-based parks, religious theme parks, and Space experience-oriented parks are also becoming popular.
7. To instil confidence in the minds of the visitors, the advent of modern and updated science & technology park attraction designs are always conscience of human safety.
The challenges and future of theme parks
Theme parks have won over many people, but they also deal with challenges in staying attractive and important. Finding a balance between new ideas and keeping beloved attractions is crucial to match changing preferences while honouring nostalgia. Moreover, addressing concerns about environmental sustainability, inclusiveness, and crowd control is vital for the industry’s success.
The future of theme parks looks thrilling, thanks to progress in technology and design. Virtual reality, augmented reality, and interactive features are set to elevate theme park experiences, captivating visitors like never before.
Conclusion: A new era of entertainment
Theme parks have revolutionised entertainment by combining fantasy, adventure, and education. Their continuous improvement is changing how we enjoy ourselves and create cherished memories with family and friends. Exploring these meticulously designed realms offers a thrilling and enchanting getaway, making theme parks a captivating and enduring concept in the entertainment landscape.
In a world that treasures experiences and memories, theme parks showcase human creativity and our yearning for extraordinary journeys. As this new era of entertainment unfolds, we eagerly anticipate the remarkable opportunities that theme parks will provide to inspire upcoming generations.
This article has been authored by IAAPI chairman Srikant Goenka
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
