Ocean Park in Hong Kong recently reported a deficit of HK$71.6 million in its latest fiscal year, despite recording the highest number of visitors in five years. The park saw around 3,140,000 total attendance from July to June, a significant increase from the previous year. This surge in visitors was primarily driven by non-local tourists, with visitors from mainland China, India, and the Philippines showing substantial growth.
While the increase in visitors led to a 41% rise in overall revenue from admission, catering, and merchandising, the operating costs also saw a 17% increase. A significant portion of these costs, almost 30%, was spent on conservation and education efforts. Despite the deficit, the chairperson of the corporation’s board, Paulo Pong, remains optimistic about the park’s future financial performance.
Ocean Park, established in 1977, is not only a popular theme park but also a center for animal conservation research. With attractions like the alligator marsh, aquariums, and an Arctic fox den, the park is home to two dozen animal exhibits. One of the highlights of Ocean Park is its panda enclosure, which currently houses six pandas. In August, panda twins were born at the park, and their names will be chosen through a naming competition.
In an effort to boost revenue and promote ecological conservation, Ocean Park plans to leverage the presence of the giant pandas to drive citywide excitement and attract more visitors. With the recent addition of two pandas gifted by the central government, the park aims to increase tourism through a campaign called “Come and Enjoy a Pandastic Hong Kong.”
Lawmakers and government officials are keen on capitalizing on the popularity of pandas to boost tourism in Hong Kong. The government announced that the new panda family will serve as tourism ambassadors, promoting Hong Kong as a tourist destination and driving tourism development. This initiative aligns with efforts to enhance the city’s appeal to both local and international visitors.
Despite the financial challenges faced by Ocean Park, the park’s commitment to conservation, education, and providing unique experiences for visitors remains unwavering. By focusing on leveraging the popularity of the pandas and promoting sustainable tourism, Ocean Park aims to overcome its current deficit and achieve long-term financial sustainability. With the support of the government and the enthusiasm of visitors, Ocean Park looks forward to a bright future as a leading tourist attraction in Hong Kong.
