Sunday, 19 June 2016

Disneyland Shanghai Opens

Ten of thousands of people are expected to visit the Disneyland resort in Shanghai on Thursday as the $5.5 billion park opens its doors after five years of construction. The park, which is the largest investment from Disney overseas, opened its doors with fireworks, dancing Disney characters and support from two of the most powerful leaders of the world. Disney sees the resort as an opportunity to capitalise on China’s middle class and to capture a slice of the country’s $610 billion tourism industry. Disney estimates that 300 million people are living within a three hour commute to the park. That includes visitors who can afford the park’s entrance fee as ticket prices vary from $56 during off peak times to $76 at weekend. If Disneyland Shanghai manages to attract 18 million annual visitors, it should produce $150 million in earnings before interest, taxes and other items by 2018. The resort is Disney sixth park and fourth one oversees. The other foreign locations include Paris, Tokyo and Hong Kong.