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Disney to Open in Shanghai, is Hong Kong's Disneyland Losing Its Magic?

Disney to Open in Shanghai, is Hong Kong's Disneyland Losing Its Magic?

Hong Kong Disneyland Hong Kong Disneyland(香港迪士尼樂園 | Hong Kong Disneyland Facebook Official Page)
ByMichelle Guanzon February 23, 2016
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With the Disney's Shanghai park to open in June, the possibility of luring more Chinese visitors away from Hong Kong Disney is increasing thus may result to losing the magic brought by the Hong Kong themed-park.

Shanghai Disneyland with its $5.5 billion budget is set to open by June that will blend the Magic Kingdom-style park with attractions based on recent Pixar and Disney films that are more familiar to the Chinese audience.

However, Hong Kong Disneyland recently released their record with a loss of S$27 million last year making it their first loss in four years after Chinese people and tourists visited the city though the park records it losses since its opening in 2005 but then regained it on 2012.

Due to China's slowdown and weaker value on yuan, relative to Hong Kong dollar has made "the happiest place on Earth" in Hong Kong not happy anymore or unattractive. In addition, there is a possibility that the Shanghai Disney will be its first contender and will be the major cause of possible losing its magic as it offers same ticket prices.

"The next two years will be very challenging.Our asset is really differentiation. We will focus on serving customers around the region." Hong Kong Disneyland managing director Andrew Kam told reporters on Monday.

In anticipation of the close competition with Shanghai, Hong Kong Disneyland will offer discounted hotel rooms and entrance fees, new attractions based on Star Wars and Marvel's Iron Man sooner as revealed by Kam. 

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