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Hong Kong Disneyland Expects Second-phase Development

02/26/2015| 11:51:04 AM|

HK government will also hold discussions with Walt Disney on further expanding the Hong Kong Disneyland resort.

The Hong Kong government has released an outline which will see the Disneyland theme park in the region double in size.

John Tsang, the Financial Secretary of Hong Kong Special Administrative Region, said the scale of the theme park's second-phase development is expected to be 60-hectares. The area is about the same size of the first phase, with attractions, hotel development and retail facilities.

The regional government will also hold discussions with Walt Disney on further expanding the Hong Kong Disneyland resort, which is 52%-owned by the city's government and 48%-owned by Disney.

Serving as a popular tourist attraction, the Disneyland theme park has played a pivotal role in boosting Hong Kong's tourism.

The CEO of Hong Kong Disneyland told the press that the theme park's total attendance figure has reached over 50 million visitors since its opening in 2005.

In fiscal year 2014, business revenues of the theme park increased by 7% compared to last year, and reached some 5.5 billion Hong Kong dollars (about 0.7 billion US dollars). The added value contributed by the Disneyland visitors' additional consumption has made up 0.62% of Hong Kong's GDP in 2014.

According to statistics, in 2014, the number of visitors to Hong Kong reached 60 million, which lead to a nine-percent growth of total consumption.

Along with the expansion of the theme park, the Iron Man themed zone of Hong Kong Disneyland and the Tree Bay Water Park of Hong Kong Ocean Park are estimated to open in 2016 and 2017 respectively.

By carrying out these projects, Hong Kong aims to enhance local tourism with high added-value, and attract tourists with high level of consumption.

As tourism has made up 5% of Hong Kong's GDP, the further development of this industry can stimulate the overall economic growth in Hong Kong.

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TAGS: HK Disneyland | expansion | tourism
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