Top Biz News
Shanghai theme parks welcome competition from new Disneyland
By Yu Tianyu (China Daily)
Updated: 2009-11-09 07:47
Local favorites
"In addition to the recently opened Happy Valley, there are many players, including Window of the World in Shenzhen, JinJiang Amusement Park, and Beijing World Park, to name a few, which continue to be favorites and have a strong attendance," she said.
China is home to about 430 medium-sized or larger theme or amusement parks, according to Chinese media reports. By comparison, there are 680 such parks in the United States.
A report by China Investment Consulting said that although North America is the most developed region for the theme park industry, Asia is the fastest developing region. The report added that China has the biggest market potential with at least 100 million possible visitors a year.
In the next five years, China's theme park industry could generate 10 billion yuan in consumer spending, according to China Investment Consulting. And in the coming 25 to 30 years, China could accommodate 10 or more Disneyland-style theme parks.
"I think that Disneyland will complement, rather than compete directly with the variety of theme parks already there," she added.
The most successful parks "keep renewing themselves and expanding" to offer visitors more fun and value, she said.
"If parks become boring or stale in comparison to their competitors, they will lose out, even if the demand is there," Chitakasem said.
Disney's entry
The world's largest theme park company had been trying to enter the Shanghai market since talks reportedly began in the 1990s with Shanghai municipal government officials.
In 2002, Disneyland announced plans for Shanghai. But a short time later, government officials disclosed that the company had given up on its plan.
In 2006, the company confirmed that it was negotiating with Shanghai officials about a new theme park.
Xinhua News Agency reported that initial construction of the park will cost 25 billion yuan, including hotels and shopping. The theme park will open to visitors as early as 2014.
Meanwhile, Disney is investing HK$6.25 billion ($806.4 million) in a major expansion of Hong Kong Disneyland.
