Published on : Tuesday, February 21, 2017
Honk Kong’s Disneyland is going through a period of net loss for the second consecutive year. Stiff neck competition and drop in mainland Chinese visitors are the two crucial factors to cause this downward curve.
The total net loss has rose to 171 million Hong Kong dollars in the fiscal year September 2016 following a HK$148 million loss in 2015. Due to decreased number of mainland visitors, revenue also fell 6% on the year to reach HK$4.8 million in fiscal 2016 with park attendance 6.1 million, down 10% from a year earlier.
To quote Samuel Lau Wing-kee, Managing Director, ‘’It’s still a challenging environment. But we’ve seen a slow turnaround in our attendance since summer.’’ International visitors from South Korea, Thailand, Philippines, and Taiwan counted 37 percent year-on-year increase in park attendance. However, locals accounted 39 percent of the park attendance.
The percentage of mainland tourists dropped down to 36%, the lowest level since 2009 in this Disney land. Lau further added, ‘’ China is a big enough market to be able to accommodate both parks. The future is still bright here.’’
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