As the restriction and quarantine measures taken to prevent the spread of covid-19 in the Central American economies are relaxed, cinema ticket sales are forecast to fall by 6%.
Using a demand-income sensitivity model developed by the Trade Intelligence Unit of CentralAmericaData, it is possible to project the variations that household demand for different goods and services will undergo as the most critical phases of the spread of the covid19 are overcome and the measures restricting mobility in the countries of the region are lifted.
The chain Cinepolis plans to open four new theaters in 2015 in Guatemala, one in Honduras, two in Panama and 30 new screens at a shopping center in Costa Rica.
Parallel to this expansion plan in the region, representatives from the Mexican chain Cinepolis said they are evaluating whether to make new investments in El Salvador, where they already have a 43% share in the cinema market.
Construction has begun of a shopping center measuring 2 thousand square meters and containing 146 stores, located in the west of the capital, with an investment of $50 million.
The company Spectrum, in charge of developing the project, estimated that the Naranjo Mall shopping center will be ready in December 2015. This mall will be 27 thousand square meters of retail space and 1,600 parking spaces.
Theater chains are fighting over the Guatemalan market and recognize rural areas as an attractive market for investment.
Mexican Cinepolis and US Cinemark and Circuit Alba are counting on new openings and investments to attract more audiences.
Elperiodico.com.gt writes, "William D. Zea, manager of Mexican Organization Ramirez, owners of Cinépolis, stated that the market in Guatemala has increased in double digit points in 2010 (January-August) compared to the same period in 2009."
The American chain will open 6 movie theaters with 3D technology.
The rooms will be located in the Eskala Roosevelt shopping center which will open in June. According as the Cinemark Guatemala manager, Javier Alfaro: "With 3D technology, the public will be able to feel as if the image is coming off the screen and it will make the moviegoer a part of the movie.
The company opened four VIP and eleven stadium-type movie theaters in the Oakland Mall.
Alejandro Ramirez, the company’s CEO, told Sigloxxi.com: "For Cinépolis, innovation is crucial. We know that growth and the company's success are based on the ability to offer higher quality and better services to our customers. We are sure that Cinépolis Oakland Mall will be a precedent in the entertainment industry."