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Call for HK$5.8bn Government Cash to Bring in New Theme Park for Hong Kong

Government forecasts supporting the matched funding of Hong Kong Disneyland’s expansion plans justify the investment in the theme park and the cross-border bridge linking to Macau and Zhuhai with a prediction of 9.5 million visitors a year by 2025 (40 per cent increase on 2015).

However the South China Morning Post points to sources of increasing competition in the region which may adversely affect these figures:

  • At least 10 theme parks are scheduled to open in the region between next year and 2020.
  • 21 theme parks opened in China last year alone (currently there are around 300 theme parks in China)
  • Disneyland Shanghai opened in June 2016
  • Universal Studios Beijing is set to open in 2020

Meanwhile The Standard reports that Michael Tien from the New People’s Party, has called for the HK$5.8 billion that the Hong Kong government is proposing to invest in the expansion of Hong Kong Disneyland to be spent on bringing in a new theme park to create competition.  Tien says that the Walt Disney Company should cover the entire cost of their ambitious project.

http://www.thestandard.com.hk/breaking-news.php?id=82763

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Rachel Reed

Rachel Read

Rachel is Finance Director. She has a degree in engineering from Cambridge University and qualified as a Chartered Accountant at Deloittes in London. She worked in finance in industry for twenty years. She oversees our news and also manages our events.

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