CEO: Disneyland Shanghai has ‘incredible potential’
Wednesday, 17 Jun, 2016
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Rain and long lines failed to dampen the mood as Disneyland Shanghai officially opened to the public this week.
The theme park giant has promised a ‘distinctly Chinese’ experience.
"China obviously represents incredible potential for the Walt Disney Company," said Disney CEO Bob Iger at the grand opening.
We’ve considered many ways to approach growth in China. Nothing is as impactful, nothing creates a connection to our stories, to our brands, to our characters, as a theme park experience."
The Shanghai resort is the company’s sixth and the first in mainland China.
"We wanted to make a strong statement. After all, this is the largest market in the world," Iger said.
"This is by far the most creatively ambitious and technologically advanced destination that we have ever built."
Disney says there is a potential market of 330 million people who live within a three-hour journey of Shanghai.
Analysts predict Shanghai will eventually become Disney’s most popular park with up to 50 million annual visitors, but will take time before that translates into a healthy balance sheet.
"It will take around 10 years for the Shanghai park to make profits overall," said He Jianmin of the Shanghai University of Finance and Economics.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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