Wanda to build a $1.74 billion theme park to cash in on ‘red tourism’
12/14/2018|3:30:50 PM|SouthChinaMorningPost

Wanda Group, the property and theme park conglomerate built by former People’s Liberation Army officer Wang Jianlin, will spend 12 billion yuan (USD1.74 billion) to build a theme park in the Communist Party’s revolutionary birthplace Yan’an to cash in on the growing trend of so-called “red tourism”.

The theme park, in the loess plateau of Shaanxi province near Gansu and Shanxi, will feature shopping malls, indoor parks, theatres and hotels built in the style of the 1930s when the prefectural city was used as the headquarters of the Communist Party. 

The project will begin construction in the first quarter of 2019 for completion by the first half of 2021 in time for the ruling party’s centenary celebration, Wanda said.

The Yan’an theme park would cash in on “red tourism,” also called “revolutionary tourism,” where 484 million tourists paid their homage last year to 436 historical sites around China.

Wanda declined to say how it is funding its multibillion-dollar projects in Lanzhou and Yan’an.

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