The world’s most visited theme park is set to open its gates in the world’s second largest economy, China and this time in its capital city, Shanghai. Mark the date -16 June, 2016 as Walt Disney Company will unveil the largest foreign investment at a time of turmoil in the Chinese economy.
In April, Disney said it was increasing investment in its Shanghai Disney Resort by another $800 million making it a $5.5 billion resort. Disney and Shanghai Shendi Group, a consortium of state-owned companies, had previously committed to spend $4.7 billion on the theme park resort, which was scheduled to open at the end of 2015. The 963 acres Shanghai Disneyland features the company’s tallest castle, two hotels and a pirates-themed land making it three times the size of Hong Kong Disneyland.
In an interview with Bloomberg TV last month, The Walt Disney Company chairman and CEO Bob Iger said, “We’re very bullish on China. We actually believe that the Chinese consumer is still spending. And the Chinese consumer represents, as far as we’re concerned, a great market for our company.”
Maintaining Disney’s high construction standards has been a challenge, Iger said, “The structures that we build in a theme park are extremely complex. They’re not just buildings but they’re shows and they’re rides. And there aren’t that many examples of the Chinese construction industry building things that are as a complex as what we’re building.”
One thing the $5.5 billion resort will be missing, will be the the colourful electronic bracelets, MagicBands that’s used by millions of customers at Walt Disney resorts in Orlando and Florida.
Guests at Shanghai Disney Resort will be able to use their mobile devices to enter the park, purchase merchandise and likely access rides and attractions. Speaking about why MagicBands won’t be used, Iger explains, “What you’ll see in Shanghai is a park that from a technological perspective is more advanced than anything we’ve ever built. The consumer will be able to buy their tickets, use their mobile devices in far more advanced, compelling ways than any other place from a theme park perspective than we are today.”
No MagicBands won’t be an issue as there’s a huge craze for Disney theme parks and resorts. Though the tickets aren’t yet on sale and Disney hasn’t announced prices for the Shanghai Disneyland theme park, owing to the millions Disney movies like Ant Man, Star Wars: Force Awakens, Cinderalla are earning in Chinese market, there are high chances the theme park is set to have a bright future.