Disney has decided to invest another $800 million into the budget for Shanghai Disneyland. This brings the total budget up to a whopping $5.5 billion. That is the largest foreign investment in China ever.
Disney CEO Bob Iger said the decision to invest more money in the Shanghai Disney Resort was brought on by predictions that travel in China may increase drastically.
“We’ve been impressed with the growth of China’s economy, especially the rapid expansion of the middle class and the significant increase in travel and tourism,” Iger said in a statement.
The additional money will go to more rides and attractions at the park and the surrounding area.
It took two decades for Disney and the Chinese government to come to an agreement on plans for Shanghai Disney, according to the New York Times. It was very important for China to not have any American influence at the park.. We all know Main Street U.S.A. but at Shanghai Disneyland they will have Mickey Avenue instead.
Did you know that Disney operates quite a few English language schools in China? I had no idea! They are taught using Disney characters and stories.
Shanghai Disney Resort will be Disney’s first park and resort in China’s mainland. The Shanghai Disneyland Resort is set to open in 2015.
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