What Is KidZania?
Understanding the concept of money
KidZania supports educational goals of financial literacy by contributing to a child’s understanding of the economic cycle. The program elevates the child’s sense of responsibility by thoroughly replicating currency transactions, operational procedures and security measures applied to real currency as part of the retail experience.
KidZania has its own currency, which enables participants to spend their money purchasing goods and services as customers or to earn it through employment as workers. Paper banknotes called ‘kidZos’ are issued in denominations of 1, 5, 10, 20, 50 and 100.
Children receive a 50 kidZos check on admission which can be cashed at the bank, allowing them to start spending or saving their money as they wish.
As with any economic system, goods and services are purchased with money (kidZos). Kids must first earn money or KidZos (KidZania’s currency) before they can spend it and may have to save up in order to buy higher priced items. They can apply for a job and earn a salary; for example they can be a nurse in the Nursery or be a stylist at the Beauty Salon. The amount paid for a job varies based on the economic theory of supply and demand. Children can receive higher wages by earning a degree at the city’s university.
After cashing the check kidz can spend their kidZos at different establishments in KidZania. They can purchase products or hire services. Typically, these products and services are consumed within the KidZania city. For example, they can buy a pizza at the Pizza Shop, or get their nails done at the Beauty Salon. Prices for products and services vary according to the principle of supply and demand.
Through the course of using kidZos children are introduced to the concepts of a bank account, generating savings and earning interest. They learn how to manage their money by going to the bank to conduct business with a bank teller or using an ATM machine to make withdrawals or to check their account balance.
As a complement to the educational lesson of earning and saving money, KidZania features a redemption-based program themed as a shopping experience. This experience is available at the Department Store and other retail establishments within KidZania Doha.