Shanghai Disney Ready to Welcome 10 Millionth Visitor

| May 13, 2017 09:27 AM EDT

Shanghai Disney Resort is set to celebrate its first anniversary this June 16.

In line with its first anniversary this coming June 16, Shanghai Disney Resort said that it would soon welcome its 10 millionth visitor, state-run Xinhua News Agency reported.

According to Robert A. Iger, chairman and CEO of Walt Disney Company, "As the resort has become a true national destination in China, [visitor numbers are] outpacing our most optimistic projections and the park's performance is exceeding our expectations."

"In the next few days, Shanghai Disney Resort will welcome its 10 millionth guest," he remarked in a press conference.

In 2018, Disney eyes to unveil a new area in the Shanghai Resort, the Toy Story Land. 

"The addition of the new Toy Story Land will add to the park's popularity . . . and it's just the first of several planned expansions in Shanghai," Iger shared.

Based on the firm's recently released report for its second fiscal quarter, it has raked in quarterly earnings worth $13.3 billion. Moreover, the company's net profits saw an 11 percent year-over-year increase as the figure jumped to $2.38 billion.

"Parks and resorts delivered another strong quarter, with operating income growth of 20 percent, driven by increases at Shanghai Disney Resort and our domestic parks and resorts," Christine McCarthy, Walt Disney's chief financial officer and senior executive vice president, noted.

Meanwhile, economist Zhao Huanyan of the Huamei Hotel Consulting said that the 10 million-mark is actually a sign of the growing significance of theme parks in the country's tourism industry.

Shanghai Disney Resort was established as a joint venture between Shanghai Shendi Group and Walt Disney

For this year alone, Disney has already released two international smash movies: "Beauty and the Beast" and "Rogue One." 

For the next months, the company is set to release more much-anticipated films that are set to rack up their revenues. These projects include four Marvel movies ("Thor Ragnarok," "Black Panther," "Avengers Infinity War" and "Antman and Wasp") and live-action adaptations of "Lion King," "Aladdin," "Mulan" and "Dumbo."

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