Why temporary ice rinks are quietly transforming local economies—and smart investors are taking notice
When Cheltenham’s Christmas ice rink closed its doors in January 2024, it left behind something remarkable: £1.6 million injected into the local economy from just 30,000 visitors. What started as festive entertainment had quietly become an economic powerhouse, revealing a trend that’s reshaping how Britain thinks about seasonal business.
This isn’t just about Christmas magic. The global ice skating rink market was valued at £3.6 billion in 2023 and is projected to reach £5.5 billion by 2032, with the UK leading Europe’s charge into what industry insiders are calling the “ice economy.”
The Numbers Don’t Lie
The economics are staggering. Independent research found that 83% of visitors cited ice skating as the main reason for their visit to Cheltenham, with 25% travelling from outside Gloucestershire. That’s tourism revenue that wouldn’t exist without the rink.
But Cheltenham isn’t unique. Across the UK, over 20 major seasonal ice rinks now operate from October through February, from London’s iconic Somerset House to Cardiff Castle’s romantic backdrop. Each generates substantial economic activity far beyond ticket sales.
The multiplier effect is extraordinary. When families visit an ice rink, they don’t just pay for skating. They buy food, shop, stay in hotels, and fuel their cars. Research showed that £860,000 of Cheltenham’s £1.6 million impact was spending that wouldn’t have occurred without the rink.
Beyond Winter: The Year-Round Revolution
What’s truly exciting industry experts is the shift toward permanent, year-round facilities. The synthetic ice market is exploding, growing at 10.1% annually and expected to reach £860 million by 2033. These artificial surfaces eliminate the weather dependency and energy costs that historically limited ice rinks to winter months.
“Shopping centres are seeing 40% longer visitor dwell times when they install ice rinks,” notes a recent industry report. The reason? Ice skating isn’t just recreation—it’s experiential retail that money can’t buy online.
The Croatian Connection
While Britain embraces the ice economy, some of the most innovative solutions are coming from unexpected places. European manufacturers like Croatia-based Ice Wonderland are pioneering modular systems that can transform any space into a premium skating experience. Their recent 48-hour installation of an 800m² rink at Dubai’s Coca-Cola Arena showcases the speed and flexibility driving this industry.
“We delivered over 40 winter market installations across Europe last year alone,” says Rahela Bošnjak, General Manager of Ice Wonderland. The company’s portfolio includes everything from private estates (including one featured in Netflix’s “I Am Georgina”) to major shopping centres, demonstrating ice rinks’ versatility as both luxury amenities and commercial attractions.
The Smart Money Opportunity
Savvy investors are recognising ice rinks as inflation-resistant revenue generators. Unlike many entertainment options, ice skating’s appeal spans all age groups and income levels. Prices ranging from £13-£27 per session across UK rinks show strong consumer willingness to pay premium prices.
The business model is particularly attractive for property developers and retailers. Ice rinks require minimal ongoing investment once installed, generate multiple revenue streams (tickets, equipment rental, food service, corporate events), and create social media moments that drive organic marketing.
Environmental Innovation Drives Efficiency
Perhaps most surprisingly, the ice rink boom is becoming environmentally positive. Cheltenham’s rink used innovative battery technology and sustainable fuel, dramatically reducing emissions while maintaining operational efficiency. Modern rinks use 520 kWh of electricity on average, but new energy-efficient systems and smart glass technology are cutting consumption significantly.
Synthetic options eliminate water consumption entirely while providing 24/7 availability regardless of weather. This positions ice rinks as climate-resilient entertainment options as traditional outdoor activities face increasing weather volatility.
The Investment Thesis
For businesses considering ice rink investments, the fundamentals are compelling:
- Proven economic impact: Single rinks can generate millions in local economic activity
- Multiple revenue streams: Tickets, rentals, food, events, advertising
- Year-round operation potential: Synthetic surfaces eliminate seasonality constraints
- Cross-generational appeal: Attracts all age groups and income levels
- Social media amplification: Highly shareable experiences drive organic marketing
- Climate resilience: Indoor/synthetic options unaffected by weather changes
The ice rink industry represents something rare: a traditional recreation sector being revolutionised by technology and smart business thinking. As Britain seeks economic growth beyond traditional sectors, the ice economy offers a surprisingly solid foundation.
The secret is already out among smart investors. The question is whether others will catch on before the opportunity skates away.
