Theme Park, Amusement Park and Attractions Industry News

Hong Kong’s Ocean Park gets a government bailout

During financial secretary Paul Chan’s annual budget last week, it was revealed that Ocean Park will receive a HK$310m cash infusion.

The government owned theme park lost HK$234m across 2016/17, and Chan has said that further details regarding the park’s budget and one-off bailout will be revealed later. It is hoped that the government given funds will promote Ocean Park’s development of educational projects.

“It is vital for large-scale theme parks to make sure their attractions can continuously lure visitors,” Chan said. “We see that there is room for Ocean Park to improve in this regard.”

Chan explained that the cash injection was necessary due to the financial difficulties the park had suffered in recent years.

An e-sports hub and museum expansion are among the other proposed measures in a larger plan to try and revitalise Hong Kong’s image as a tourist hotspot. Complimentary admission tickets will be given to primary and secondary school students in the coming year.

Read the full article here.

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