|From Walt Disney Company news|
The path from idea to approval to construction to opening was long and challenging. Disney originally proposed the theme park 20 years ago, but political and economic factors slowed progress.
The target market is the 330 million people who live within three hours of the park. Millions more may travel longer distances to visit, increasing domestic tourism and spreading awareness of the Disney brand throughout China.
As the head of Disney states: 'Shanghai Disneyland is authentically Disney and distinctly Chinese'.
Disney, whose characters are increasingly familiar to Chinese families, faces considerable competition from diverse theme parks already attracting crowds in China. Dalian Wanda Group is opening 10 entertainment complexes, with admission prices below those set by Disney. Other theme parks (such as Hello Kitty) are also competing for the middle class family's attention and money. How will Disney do in this super-competitive environment?