Chief Executive Tung Chee Hwa (left), Hong Kong Disney chairman and CEO Michael Eisner (right) and Disney president and chief operating officer Robert Iger (centre) with Mickey and Minnie Mouse during the groundbreaking ceremony for Hong Kong Disneyland. (Photo credit: Reuters)

Promising that Hong Kong Disneyland will be a "truly magical destination'', Walt Disney Company chairman and chief executive Michael D. Eisner joined Chief Executive Tung Chee Hwa at Penny's Bay on Lantau Island to break ground on the HK$22.45 billion (US$2.9 billion) undertaking certain to be an irresistible tourist destination.

Mr Eisner predicted the theme park "will be a blockbuster''. The alliance between Disney and the Hong Kong Government, he said, heralded "a new era in tourism for Hong Kong''. Mr Eisner expressed confidence that the theme park would be profitable, despite the global depressed economic environment. "Entertainment is resistant to recession," he said.

Observing that the "site is spectacular'', Mr Eisner remarked: "I think this will be the most spectacular park location we have anywhere in the world. Looking back across the bay to central Hong Kong is awesome.''

The economic benefits that the Magic Kingdom will generate for Hong Kong are estimated to be HK$148 billion (US$19 billion) over 40 years. Mickey's World of Fantasy is taking shape amid double-digit growth in tourism. In 2002, visitor numbers surged 20 per cent to 16.5 million, surpassing expectations. Mainland visitors added up to more than six million, a 52 per cent growth.

When Disneyland opens its gates in 2005/06, the government estimates the Mickey Mouse family will create 18,000 new direct and indirect employment opportunities. Fully completed, it is expected to generate 36,000 jobs. The government has a 57 per cent stake in the venture, while Disney holds the remainder. It will be built and operated by a joint-venture company, Hong Kong International Theme Parks.

Potential to draw millions

Hong Kong Disneyland's group managing director Don Robinson noted that the park being built on 126 hectares has the potential to draw 1.6 million tourists to Hong Kong in the first year. "It is a conservative estimate,'' he said. "There is potential for attendance to be higher.''

His expectations are based largely on China emerging as the world's biggest tourism destination by 2020, and Hong Kong becoming the fifth biggest.

James A. Rasulo, president of Walt Disney Parks and Resorts - one of four business segments of the Walt Disney Company - explained that visitors to Disneyland would belong to three general categories. "One third will be residents of Hong Kong, one third mainland visitors, and another third tourists.''  Mr Rasulo said that in the first year, the Disney stars will have captivated, "about 5.5 million visitors to the theme park''.

Visitors will encounter enduring favourites and some Chinese characters including a famous heroine. "I think you will see Mulan on opening day," said Tom Morris, Walt Disney Imagineering vice-president and executive producer of creative development.

Mr Morris added that the park would also incorporate Chinese festivals including Lunar New Year and Mid-Autumn Lantern Festival, although Disney's classic cast of characters would take centre stage along with Sleeping Beauty's imposing castle. Adapting the "Mouseterpiece" theatre to Hong Kong and the Asian setting will mean blending other cultural elements, too. "The food will almost entirely be Asian,'' Mr Morris, assured.

Hong Kong Disneyland a boon to character licensing business

Related links: 
Hong Kong Disneyland www.info.gov.hk/disneyland/indexe.htm 
The Government is undertaking the largest landscape project in Hong Kong to tie in with the opening of Hong Kong Disneyland in Penny's Bay in 2005. Read "Penny's Bay site of giant landscaping works."