Disney Announces Huge Investment Into Disneyland Paris
Executives at the Walt Disney Company recently said they will invest $2.5 billion into new lands at Disneyland Paris. Experts hope these new additions will give Europeans even more reasons to visit this park in the near future.
The majority of this investment will go towards creating an area dedicated to the iconic series Star Wars. Disney also said it was planning on building a few smaller regions dedicated to Marvel superheroes and the 2013 blockbuster Frozen.
French President Emmanuel Macron welcomed this news warmly on his Twitter feed. According to Macron, this plan shows investor confidence in the French economy. Macron met with Disney CEO Bob Iger in Paris to discuss this investment in greater detail.
In his public statement, Mr. Iger said he was optimistic about the future outlook of the French economy.
These new additions will be the largest construction projects in Disneyland Paris since it was founded in 1992. The Walt Disney Company expects to start breaking ground on this massive project in 2021. As of today, the Disneyland Paris area measures 4,800 acres.
Besides Disneyland Park, Disneyland Paris includes a second theme park called Walt Disney Studios and a shopping area. There are also seven hotels, a few convention centers, and a golf course on property.
Disneyland Paris (aka Euro Disney) is officially located in a region of France called Marne-la-Vallee, which is about 20 miles east of Paris. People can easily travel from central Paris to Marne-la-Vallee on the RER train system's A line.
Just over six percent of all tourists to France stop by the Disneyland park, which makes it the most popular theme park in all of Europe. In total, about 320 million people have visited Disneyland Paris since it opened.
Although Disneyland Paris is a major tourist draw, it's one of Disney's least popular theme parks. In recent years, Euro Disney has suffered from massive debts and has failed to make a profit since 2016.
In 2016, Disneyland Paris posted a loss of €858 million. The number of visitors who went to Disneyland Paris also dropped about 10 percent in 2016 to roughly 13 million people. This dip in tourism may have been due to the recent Islamist attacks in Paris and Nice.
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