Jul 25, 2016

    Six Flags to invest in Chongqing theme park


    WALT Disney and Universal Studios are busy opening massive businesses in China's affluent coastal areas but other global theme park operators are eyeing less-developed inland regions.

    About a month after the grand opening of Shanghai Disney Resort, Six Flags Entertainment announced last week, in Chongqing, that it will build a theme park in partnership with Riverside Investment Group.

    Chongqing Riverside-Six Flags Theme Town Park, which will cost an estimated 30 billion yuan (S$6 billion), will be the first international theme park located in western China.

    It is Six Flags' second project in China.

    Its first in Haiyan, Zhejiang province, also cost 30 billion yuan.

    Founded in Texas in 1961, the United States group has 18 projects in North America.

    "Such a world-famous theme park will help boost our tourism and attract millions of visitors from neighbouring provinces," said Chongqing mayor Huang Qifan.

    Western China covers 12 municipalities, provinces and autonomous regions and has a population of 380 million.

    Major cities, such as Chongqing and Chengdu, Sichuan's provincial capital, have been actively seeking theme park projects.

    Data from the China Tourism Academy showed that the total revenue of China's tourism sector was four trillion yuan last year, with about 230 billion yuan generated by theme parks.

    The theme parks are slated to attract 282 million visitors in 2019, more than double the figure in 2014, said Euromonitor International.