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Disney set to invest in new park in China

Disney set to invest in new park in China
29 Apr 2014

Disney resorts around the world attract a huge number of visitors to some of the top tourist destinations, including Paris and Florida, and the company has announced plans to increase its investment in a resort planned for China.

The firm has confirmed that the new site is due to open in 2015 and it is hoped that it will welcome a huge number of visitors as more and more people in the country become interested in tourist destinations.

Disney has, in fact, increased its investment in the Shanghai Disney Resort by 5 billion yuan ($800m, £476m, €578m) to $5.44 billion.

The money will be used to add more facilities, which means that there will be more attractions and entertainment, among other things.

"Since we first broke ground in Shanghai we have been very impressed with the growth of China's economy, especially the rapid expansion of the middle class and the significant increase in travel and tourism," said Robert Iger, chairman and CEO of Disney.

"Our accelerated expansion, including additional attractions and entertainment, will allow us to welcome more guests for a spectacular Disney experience on opening day."

"The expansion underscores the tremendous opportunity we see in Shanghai and demonstrates our long-term commitment to and confidence in China," Thomas Staggs, chairman of Walt Disney Parks and Resorts, added.

China has seen huge economic growth in recent years and it is thought that this will soon reach the tourism market, with an increasing number of people in this part of the world keen to enjoy visiting a top tourist destination.

And given the increased levels of investment from Disney, it is apparent that the firm is determined to take advantage of this reality.

The new park will open next year and is prepared to welcome a huge number of visitors.ADNFCR-408-ID-801716364-ADNFCR

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