Shima Spain Village has three shows: the parade which also involves a juggling/acrobatic act of some kind, a character show with some animated movies, and a flamenco show that requires same-day reservations to see.
The rides at Parque Espana are fun - Pyrenees is a great thrill ride and the other two coasters are worth riding at least a couple times each. The dark rides are entertaining, and the exhibits throughout the park are interesting and well-designed. But the place is huge for the number of attractions it offers. It takes a long time to walk from one end of the park to the other. And the number of attractions is another problem - there just isn't much to do.
The park needs more thrill rides. And family rides. I could imagine the park adding in a horse-themed motocoaster (similar to Pony Express), and some other inexpensive unique coaster. Toss in a half dozen new flat rides plus a kid's ride section, and the park would become worthy of a full day trip. In fact, with a great selection of unique rides, I'd certainly be all about visiting at least once a year, possibly more.
The same thing could be said for most parks in Japan, and I know I've said this before: it doesn't take very expensive super-large rides to draw in fans; something new, fun, and unique will attract customers. Japan has a lot of children, but the country is still getting older. The population has been stagnant for a decade, and with so many old people and a low birth rate, it will start decreasing soon.
Anyway, Shima Spain Village is about 2 hours 15 minutes from Nagoya, or under 3 hours from Osaka/Kyoto. That includes a shuttle bus ride to the park from Ugata Station on the Kintetsu line.
Admission is 4900 yen, or 6200 yen for a two-day pass (3200 yen for a two-day pass if you stay at the hotel). I'm not sure who'd need that, except for families with parents utilizing the spas while they send their kids off to play at the park. An afternoon ticket comes at a big discount: 2100 yen if you arrive after 2 PM (2900 yen after 4 PM during peak periods). Free admission on your birthday!
The park generally opens at 9:30, closing at 16:30, 17:00, or later depending on the season; the park closes for a few weeks in winter.