Cheap vacation packages and discount hotel rooms should follow once a new Disney World resort opens in Shanghai. Walt Disney Company and Shanghai announced last week a joint venture to manage the project, expected to cover 1.5 square miles out of a total of almost 8 square miles for the entire resort.
The cost of the new resort is expected to be approximately $3.6 billion.
Shanghai is Chinas main financial and commercial center. Although it is one of Chinas most modern and affluent cities, it has few major historic landmarks compared with cities like Beijing and Xian.
Shanghai anticipates the new theme park as being a strong international tourism resort that will have a pleasant, low carbon environment. The hope is that the Disney park will provide Shanghai with a major tourist draw. Disney says the Shanghai resorts will include a Magic Kingdom style theme park with characteristics tailored to the Shanghai region.
A joint venture including local Chinese companies and Disney will oversee construction and be responsible for the management and operation of the Disneyland theme park.
Disney opened a theme park in Hong Kong in 2005 which has experienced disappointing attendance. The Hong Kong theme park is in the process of expanding as it positions itself to compete with the future Disney park in Shanghai.
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