Ocean Park bailout plan by Hong Kong government will help fund attraction’s revival, not just ‘stop the bleeding’, tourism commissioner says
- The HK$10.6 billion plan will shore up theme park’s finances and drive its resurgence, Joe Wong says
- CEO of the attraction aims to double visitor numbers by 2027
Hong Kong’s tourism commissioner has defended the government’s plan to pump HK$10.6 billion into struggling Ocean Park, saying it was not simply a short-term move to “stop the bleeding”.
Joe Wong Chi-cho said on Tuesday the proposal would allow the theme park to make money and reinvent itself as a top attraction.
The park said on Monday it would not be able to repay HK$2.3 billion in commercial loans within the next two years.
It also borrowed HK$3.67 billion from the government to build two hotels and a water park, with the money due to be repaid in 2021.
The government also considered it necessary to release further funding to help the park transform into an adventure-themed resort by 2027, the document reads.
During a radio programme on Tuesday, Wong twice dodged questions on whether the Hong Kong Island attraction would need more cash injections in the future.