Top Biz News
New theme parks on tap
By Shen Jingting (China Daily)
Updated: 2009-09-28 08:59
Huaqiang now plans to invest another 2.5 billion yuan to build its second theme park in Wuhu: Wuhu Fanta Dream Kingdom.
Like the US Disney parks, Huaqiang's strategy is to provide visitors additional parks and attractions to give them more reasons to stay longer and spend more money.
According to China's Tourism Green Book, China beginning next year will enter a new era in terms of theme park development. While more international theme parks will enter the China market, domestic theme parks also will grow, according to the Green Book.
US entertainment industry giants Disney, Universal Studios and Viacom Inc all have expressed interest in building theme parks in China.
But Huaqiang is undaunted by the competition.
"China's market is too big for a Disney or other company to control," Liu said. "It's like supermarkets in Beijing. When Wal-Mart comes, are other supermarkets doomed?"
In fact, Huaqiang already is looking beyond Wuhu to grow a theme park empire. The company has signed deals with Shenyang, Qingdao, Tai'an and Chenzhou to build new versions of Fantawild.
Huaqiang is also exporting its theme park know-how.
The company signed a deal with Iran to make China the second country (behind the US) capable of exporting an entire theme park operation.
Construction began late last year at Iran Fantawild, which is being built for $100 million in Esfahan.
Construction will begin by the end of 2009 on a theme park 770,000 sq m in size in Johannesburg in South Africa.
The Johannesburg park, which will cost $250 million and take three years to complete, will feature Chinese cultural themes to introduce the South African public to Chinese culture.
"The park will be the first major technology-driven cultural theme park in South Africa," said Cassim Nakkooda, director of trade and investment promotion for Johannesburg.
Countries such as the Ukraine, Saudi Arabia and Russia also have shown interest in importing Huaqiang's theme park model.
