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Ocean Park sees 45% decrease in revenue due to pandemic constraints

10/29/2021| 6:13:27 PM|

The park has changed its strategy amidst the pandemic.

Ocean Park was hit with a HK$1.11 billion loss for the financial year ended on 30 June, while the number of visitors has dropped to 1.4 million as the park remained closed for more than five months. In the 2020-21 financial year, the park has lost a net of HK$1.11 billion before the government’s funding support of HK$1.45 billion received in the fiscal year. The revenue of the park dropped significantly to HK$393.6 million compared to the previous fiscal year, equivalent to a 45% decrease. Due to the pandemic, the number of visitors decreased by 36% to only 1.4 million in the same fiscal year.

Ocean Park said in accordance with government mandates, it had closed for 40% of the fiscal year or 146 days between 1 July 2020 and 17 February 2021, completely cutting off its source of revenue from visitors. Ocean Park reopened on 18 February 2021 with reduced capacity thanks to government measures, relying on local visitors heavily as Hong Kong has received few visitors since the outbreak of the pandemic.

According to the Hong Kong Tourism Board, there were only 63,000 visitors coming to Hong Kong from January to September this year, a 98.2% decrease compared to the previous year.

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TAGS: Ocean Park | Hong Kong
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