Disney Seeks to Cater to China’s Growing Middle Class
Rising disposable incomes in the emerging economies and especially in China have led to a trade up in diets, a thirst for the branded products and now travel and entertainment. This is already starting to influence content decision at the major movie studios and airline destinations, and this will only accelerate as the influence grows.
Walt Disney Co. has hosted over 600,000 visitors at its first theme park in mainland China since trial operations started early May, and its “enormous potential” has already prompted Disney to expand the resort, said Chief Executive Officer Robert Iger.
The government has predicted China’s $610 billion tourism industry will double by 2020, spurred by a growing middle class. DreamWorks Animation SKG Inc. plans to open its $2.4 billion DreamCenter and Haichang Ocean Park Holdings will unveil what’s slated to be China’s biggest marine park next year. Six Flags Entertainment Corp. is due to open its first park outside North America in 2019.
Source: Disney Sparks Theme-Park Battle to Entertain China’s Middle Class – Bloomberg