Hong Kong Disneyland aims to increase tourism and revenue, so t a $1.4 Billion upgrade. The theme park will add Frozen and Marvel attractions in hopes of attracting more international tourists and local tourists from mainland China.
"This proposed expansion brings the best of the Walt Disney Co. to this wonderful tourist destination, giving guests an experience only Disney can deliver and infusing some of Disney's most beloved characters and stories into this unique destination," Bob Chapek, Chairman of Walt Disney Parks and Resorts said.
Hong Kong Disneyland's expansion will start on the year 2018 and is expected to finish by 2013. It will also refurbishe the Sleeping Beauty Castle and add a "Moana" attraction which is based on the upcoming Disney film, according to LA Times.
Hong Kong Disneyland, the smallest of all the theme parks of Disney, suffered a slump of revenue of the past year mainly due to the political unrest and slow economy. It reported a loss of $20 million in revenue for the last 12 months. The theme park is not the only one suffering from losing huge percentage on tourism but in mainland China as well.
"Everybody knows tourism in the region, especially in Hong Kong, has been challenging, so it's not just Hong Kong Disneyland," Samuel Lau, Managing Director of Hong Kong Disneyland, said.
"We need to quickly double up to make sure we invest in tourism in the long run. Some of these projects will take time to build and create, and now is the time."
The government of Hong Kong owned 53% stake of Hong Kong Disneyland and it will contribute the $750 million while Disney will fund the remaining $650 million in the $1.4 billion investment.
The expansion and refurbishing of attractions will employ and make 3,500 jobs. It will also give 600 employments within the park.
This article is copyrighted by Travelers Today, the travel news leader
