Latest News

Back to Latest News back

 

Hong Kong’s Ocean Park to get HK$310 million Government bail out

Hong Kong’s Ocean Park to get HK$310 million Government bail out
March 1, 2018

The Hong Kong Government is to inject HK$310 million (US$39.6 million) into the loss making Ocean Park theme park in an initiative that will include paying for 10,000 free tickets for students.

Hong Kong Financial Secretary Paul Chan Mo-po revealed the unprecedented funding this week – in the administrative region’s annual budget -  as part of a HK$706 million package to freshen up Hong Kong’s waning image as a tourism hub and lure big-spending visitors from places other than mainland China.

Other measures which might indirectly boost the local tourism market include a proposed e-sports hub, museum expansions and extra cash to preserve cultural heritage.

Tourism is seen as one of the four pillars of Hong Kong’s economy. It contributed HK$116 billion (5%), to the city’s GDP in 2015, employing 267,000 people.

However, the South China Morning Post reports that there are concerns that an unbalanced mix of tourists could hurt the industry’s stability and long-term growth. Out of 58.5 million visitors to Hong Kong in 2017, 76% were from mainland China, underlining the city’s heavy reliance on guests from north of the border.

The imbalance has been made particularly clear for Ocean Park in recent years, during which a drop in the number of mainland visitors led to a drop in attendance and a financial deficit for the attraction.

Located on the south of Hong Kong Island, the theme park lost HK$234 million in the financial year ending 30th June 2017, following a HK$241 million deficit the year before.

Backing the attraction for the first time, the Hong Kong Government’s one-off sum of HK$310 million is to “develop education and tourism projects”.

Secretary Chan explained “it is vital for large-scale theme parks to make sure their attractions can continuously lure visitors.

“We see that there is room for Ocean Park to improve in this regard.”

A total of 10,000 free tickets will also be distributed to local primary and secondary students in the coming year.

Image: Attractions at the summit of Ocean Park Hong Kong.

20th February 2018 - ATTENDANCES RISE BUT LOSSES DOUBLE AT HONG KONG DISNEYLAND IN 2017

15th December 2017 - THREE GROUPS MOVE TO NEXT STAGE IN HONG KONG SPORTS PARK PROJECT

18th September 2017 - OCEAN PARK HONG KONG CLOSES HALLOWEEN-THEMED HAUNTED HOUSE AFTER GUEST DEATH

3rd June 2017 - GLOBAL THEME INDEX SHOWS MIXED ATTENDANCE TRENDS FOR THEME PARKS

24th September 2016 - OCEAN PARK CHIEF EXECUTIVE CONFIDENT OF ATTRACTING MORE VISITORS

27th May 2016 - ASIAN THEME PARKS LEAD GLOBAL ATTRACTIONS INDUSTRY GROWTH

31st March 2016 - OCEAN PARK HONG KONG NAMES NEW CHIEF EXECUTIVE 

1st March 2016 - OCEAN PARK LAUNCHES FREE WI-FI AND NEW MOBILE APP TO ATTRACT VISITORS

10th February 2016 - DRAMATIC DECLINE IN VISITATION SEES OCEAN PARK LOSE OVER A MILLION VISITORS IN 2015

29th October 2015 - LEISURE INDUSTRY EMBRACES HALLOWEEN EVENTS

3rd September 2014 - OCEAN PARK SET TO LAUNCH ‘TOO SCARY’ HAUNTED HOUSE ATTRACTION


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Worldwide Sports Management

Principal Consultant Simon Weatherill has spent the last 20 years developing the world renowned Melbourne Sports Hub, as former Chief Executive Officer of the State Sports Centres Trust…

read more

Aquatics / Consultants / Recreation / Sport / Venues

 
 

Jonas Leisure

JonasLeisure offers a complete range of leading leisure and recreation software brands – envibe, Centaman, Gladstone Health & Leisure, The Retention People, Nutrition Complete and…

read more

Aquatics / Billing / Fitness / Recreation / Sport

 
 

GLADSTONE MRM

Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…

read more

Access / Billing / Fitness / Technology / Venues

 
 

Polin Waterparks

Polin was founded in Istanbul in 1976, and has since grown into a leading company in the waterparks industry. Today Polin is one of the world leaders in the design, production, and installation of…

read more

Aquatics / Attractions / Play / Waterparks

 
 

GREENEDESK

Track. Engage. Retain GreeneDesk is a suite of cloud based software solutions helping health clubs, leisure centres and swim schools to effectively track progression, improve customer engagement and…

read more

Aquatics / Billing / Education / Fitness / Technology

 
 

Summit Fitness

Summit Fitness Equipment is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/

read more

Fitness / Recreation / Technology / Wellness

 
 

SLE WORLDWIDE AUSTRALIA PTY LTD

SLE Worldwide Australia is a Managing General Underwriter specialising in insuring risks in the world of Sports, Leisure and Entertainment. Be it relaxing, playing, organising or watching sports,…

read more

Insurance / Venues

 
 

Goplay Commercial Playground Equipment

Goplay designs and manufactures specialised playground equipment for indoor play centres, hotels, food chains, clubs and resorts. If our years of experience and dedication have taught us one thing,…

read more

Play

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business