With insights from Privalgo Currency Specialists Ricky Torres and Harrison Sharp
From theme parks to immersive exhibitions, the leisure and entertainment industry is expanding rapidly across global markets.
In 2023, global revenue for the entertainment and media (E&M) industry rose by 5% to $2.8 trillion – outpacing overall economic growth. By 2028, this figure is expected to reach $3.4 trillion.
The leisure industry has seen a similar surge, following tough years during the Covid-19 pandemic. In 2023, the industry was valued at $0.95 trillion. It’s expected to grow from $1.1 trillion in 2024 to $3.42 trillion by 2032.
As projects become more ambitious, so do the logistics, which makes managing cross-border payments a critical part of the puzzle.
Whether you’re commissioning a ride from Germany, hiring engineers in Japan, or licensing creative IP from the US, managing international transactions can be complex, costly, and time-consuming.
In this article, we explore the payment challenges facing global leisure and entertainment businesses, and how to overcome them.
Table of contents
- Why cross-border payments are a challenge in the leisure sector
- Insights from the specialists: Ricky Torres & Harrison Sharp
- The solutions
- How Privalgo can help
- Conclusion: Global projects need global payment partners
- FAQ
Why cross-border payments are a challenge in the leisure sector
Building large-scale entertainment experiences often involves an international web of contributors. For example, a theme park project might include:
- Ride manufacturers in Switzerland
- Architects in the UAE
- Creative designers in the UK
- Staff in Saudi Arabia
- Real estate purchases in the US
- Contractors and consultants across Asia and Europe
Each of these suppliers may need to be paid in their local currency, under specific timelines and regulatory conditions. Managing these payments at scale presents several pain points. These include:
Multiple currencies
Accessing a variety of currencies can be tricky, especially restricted currencies. Frequent currency conversions often lead to high FX fees and fluctuating costs due to market volatility.
Complex invoicing and reconciliation
Sending international payments to multiple global parties means managing different payment terms, tax treatments, and banking standards.
Compliance risks
Cross-border transactions must comply with local and international AML (anti-money laundering), KYC (know your customer), and financial regulations – especially when dealing with high-risk or “exotic” regions.
Time delays
Traditional bank wires can take days, especially if routed through intermediary banks. This creates uncertainty and potential project delays.
Insights from the specialists: Ricky Torres & Harrison Sharp
Ricky Torres and Harrison Sharp, Currency Specialists at Privalgo, know these challenges first-hand.
In May 2025, they visited Saudi Arabia for SEA Expo 2025. As Privalgo’s representatives on the Experience UK partnership, they support leisure firms with payment solutions that are fast, flexible, and fully compliant.
“At SEA Expo 2025 in Riyadh, we saw how global this industry really is,” says Harrison.
“You’ve got architects from London collaborating with developers in the Gulf, creative IP being sourced from LA, and teams being assembled in places like Dubai and Singapore. It’s a logistical maze, so the payments infrastructure has to be up to scratch.”
The solutions
The leisure and entertainment industry is full of obstacles to overcome. Ambitious businesses need to be aware of the solutions at hand to be successful with their projects.
Here are some solutions to consider:
Open multi-currency accounts
Rather than opening local accounts in every country, go for a multi-currency account. This allows you to:
- Hold, send, and receive funds in 140 currencies
- Time your FX transactions to secure favourable rates
“Multi-currency accounts are ideal for entertainment groups working across borders,” says Ricky. “They simplify treasury management and reduce conversion costs without compromising control.”
Use virtual IBANs
A virtual IBAN allows you to receive local payments in a foreign currency as if you have a bank account in that region.
This can improve payment reconciliation processes, reduce intermediary fees, and increase trust with local partners who prefer to pay domestically.
Implement FX risk solutions
Projects that span months (or years) are vulnerable to currency swings. With forward contracts or market orders, you can lock in exchange rates or set automatic triggers helping protect your margins and cash flow.
“Even a 2% currency swing can have a huge impact when you’re dealing with multi-million-pound projects,” says Harrison. “That’s why many of our clients work with us to control their FX and keep costs predictable.”
Centralise payment operations
Bring all your payment activities to a single platform. This improves visibility across your treasury operations, speeds up internal approvals, and reduces errors.
Privalgo’s platform also allows integration with existing accounting systems through our API, so reconciliation becomes more efficient and less error-prone.
How Privalgo can help
At Privalgo, we provide global businesses with:
- Named multi-currency accounts to manage payments across 180 countries
- Virtual IBANs for simplified global receivables
- Dedicated Relationship Managers for human support
- Fast onboarding and thorough compliance processes, even for exotic markets
“What makes us different is the hands-on support,” says Ricky. “We’re not just giving clients a tool, we’re helping them use it to maximum effect.”
This personalised approach is one of the reasons why Experience UK chose to partner with Privalgo. Our ‘white-glove’ service resonates with the kind of support UK businesses in the leisure and entertainment sector need to maximise their growth.
Conclusion: Global projects need global payment partners
In the entertainment and leisure world, creativity is only half the challenge. The other half is operational, and payments are a crucial part of getting it right.
If your business works across borders, partnering with an FX and payments specialist can help your financial operations run smoothly and drive your business growth.
At Privalgo, we specialise in simplifying international payments for ambitious businesses, offering not just the tools, but the guidance to use them effectively.
Contact one of our Currency Specialists today and see how we can support your global vision.
FAQ
Below are 10 frequently asked questions about cross-border payments in the leisure and entertainment industry. Some answers use content already discussed in this article.
What’s the best way to pay international suppliers?
Using a multi-currency account with virtual IBANs allows you to pay suppliers in their local currency, with lower fees and fewer delays.
Can I lock in exchange rates for future payments?
Yes — forward contracts allow you to fix rates for future transactions, helping you manage cash flow and avoid surprise costs.
Do I need a local bank account in each country?
Not necessarily. Multi-currency accounts and virtual IBANs offer many of the same benefits without the overhead of maintaining multiple local accounts.
Is Privalgo suitable for creative or entertainment businesses?
Absolutely. Our solutions are built for companies with complex, global operations, including those in the leisure and entertainment sector.
