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Stella Lee

The Disney project will be financially viable even if the number of visitors is 70 per cent less than the most conservative estimate, officials say.

 They yesterday released figures to academics at private briefings on the project, which they expect to generate an economic rate of return of between 16.9 per cent and 25 per cent under the six scenarios worked out.

 Academics were told that even if the number of visitors was 70 per cent less than the most conservative scenario, a six per cent rate of return could still be achieved.

 The Government will be asked today to provide more information on the project for wider debate before it can hope to win overwhelming support for the proposed $22.45 billion investment.

 More than 10 groups and academics will attend a Legislative Council meeting on the project today after some legislators said they wanted to hear more public voices before deciding whether to endorse the funding.

 While some of the academics and groups raised doubts about the Government's estimates, most expressed support for the projected economic benefits.

 Three green groups said the project would harm the environment.

 Associate Professor Kwong Kai-sun, of the Chinese University's economics department, said officials had been too optimistic in estimating one out of four Hong Kong people would visit the park each year.

 Professor Ho Lok-sang, of Lingnan University's centre for public policy studies, supported the project for the overall gains, despite suggesting the Government had understated the costs and over-stated the rate of return.

 Professor Ray Pine, head of Polytechnic University's hotel and tourism management department, expected the park to be the busiest in the world given the huge market on its doorstep.



Park 'still viable if visitors 70pc less than estimated'