Questions over performance of Disney’s new Shanghai theme park

Three months on from the opening of the US$5.5 billion Shanghai Disney Resort it appears the theme park hasn’t been a blockbuster hit with China’s impatient and cost-conscious consumers.

Chinese media have carried a number of complaints about long waits for popular rides and expensive food and drinks while Richard Huang, China entertainment industry analyst for Nomura has told media "it seems like the level of interest the Chinese have in the park has been waning a little bit."

Huang estimates that Shanghai Disney has averaged around 20,000 visitors a day since its grand opening, adding up to about 7.3 million a year, less than half the 15 million forecast.

Such attendance would also leave Shanghai lagging way behind similar Disney parks in California and Tokyo, which drew in 18.3 million and 16.6 million visitors respectively last year.

Disney said in a statement that such speculation about attendance at the Shanghai park is “meritless.”

Walt Disney Parks and Resorts Chairman Bob Chapek stated "our financial results during the first 100+ days of operation have exceeded our expectations, and guest feedback has been extremely strong, establishing a solid foundation upon which to grow."

Disney parks have a history of building up attendances while operating in China offers particular challenges.

Disney was among the attractions that drew over 9.27 million tourists to Shanghai over China's weeklong National Day holiday at the beginning of this month.

Reporting a 5% rise in visitation from last year, the Shanghai Tourism Administration advised that the 165 parks in the city received nearly 5.6 million visitors over the holiday, up 15% percent from last year, while visitors to the 140 tourism scenic spots topped 6.5 million - a 12% growth.

Image: Guests at Shanghai Disney Resort.

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