Disney ParksNews
From Struggles to Success? Hong Kong Disneyland’s Impressive Turnaround

Hong Kong Disneyland has had a turbulent history, but it seems like things are finally turning around for Disney’s smallest theme park resort.
From the start, Hong Kong Disneyland struggled to meet expectations. Its small size, limited attractions, and stiff competition from Ocean Park led to disappointing visitor numbers. Many saw it as a failure, especially when retrospectively compared to Shanghai Disneyland, which surpassed projections, welcomed over 11 million guests in its first year, and broke even in its first full fiscal year—an unprecedented achievement for a Disney park of its scale.

In an attempt to boost attendance, Hong Kong Disneyland began expanding its offerings. By 2008, new rides and themed lands were introduced, but challenges persisted. The 2008 financial crisis slowed tourism, and despite adding Toy Story Land (2011), Grizzly Gulch (2012), and Mystic Point (2013), the park struggled to maintain consistent profitability.
A breakthrough came in 2012 when the park finally turned a profit, reporting HK$109 million (US$13.97 million). However, financial stability was short-lived. The launch of Shanghai Disneyland in 2016 drew visitors away, and by 2015, 2016, and 2017, the park was back to operating at a loss.
The situation worsened when the COVID-19 pandemic forced multiple closures between 2020 and 2022, prompting the Hong Kong government—its majority stakeholder—to approve a $5 billion bailout to keep operations afloat.

Despite these setbacks, Hong Kong Disneyland continued investing in new attractions. The Castle of Magical Dreams, which replaced a replica of Anaheim’s Sleeping Beauty Castle, debuted in 2020, and in 2023, the park became home to Disney’s first-ever World of Frozen, a major expansion designed to attract more visitors.
Now, signs of a strong recovery are emerging. In 2024, fresh off Disney’s announcement of a new Spider-Man attraction in the park’s Stark Expo area, the park reported its best performance in years.

Anita Lai Pui-shan, Vice President of Communications and Public Affairs, declared the year “a prosperous one in both attendance and revenue” (via The Standard). The park saw a surge in visitors from Shenzhen during Halloween, and Christmas hotel occupancy exceeded 90%, driven by both Mainland and international tourists.
Reports confirmed that revenue in the year leading up to September 2023 more than doubled, while losses shrank significantly. Revenue jumped 156% to HK$5.7 billion ($731 million), with attendance climbing 87% to 6.4 million. Earnings before interest, taxes, and depreciation tripled to HK$924 million ($118 million), and net losses dropped 83% to HK$356 million ($45.6 million).

Looking ahead, park officials remain optimistic. “Since the opening of the World of Frozen, Mainland tourists purchasing annual passes have doubled. The Greater Bay Area remains a key market for the theme park,” said Lai.
While Hong Kong Disneyland has never been as large as Tokyo Disney Resort or as extravagant as Shanghai Disneyland, it has a distinct charm reminiscent of the original Disneyland Park. With a promising financial turnaround and exciting expansions on the horizon, 2025 could mark an even stronger year for the park.
Have you ever visited Hong Kong Disneyland?