Posted On 2015/07/27 By In Business, Economics, News With 555 Views

Wanda aims to be World’s largest Tourism Enterprise by 2020

Dalian Wanda Group, China’s biggest private property developer, plans to surpass Disneyland Park as the world’s largest tourism enterprise with annual visitors of more than 200 million and annual tourism income exceeding 100 billion yuan (US$16.1 billion) in 2020, Beijing-based Caixin Online reports, citing Wanda chair Wang Jianlin.

Wang made the announcement on July 23 at the China (Sichuan) International Tourism Investment Conference.

According to statistics from the World Leisure and Recreation Association, Disneyland had nearly 130 million visitors in 2014 and may receive 160 million visitors in 2020 once its Shanghai Disneyland opens next year. Wang’s target of 200 million visitors surpasses Disneyland’s predicted 2020 performance.

To achieve the goals won’t be easy, while Wang’s logic is to set up super culture and tourism cities, called Wanda cities.

Wang said Wanda cities will each feature a big building larger than Terminal 3 of Beijing Capital Airport, making the cities completely indoors, freeing them from the effects of the weather and the seasons.

Three Wanda cities are currently operating in Changbai Mountain Resort, Wuhan and Xishuangbanna Resort, with seven more under construction. The company plans to open at least 15 Wanda cities in China, each with projected annual visitors of more than 10 million, with the branches in larger cities such as Wuhan being able to absorb over 30 million visitors a year. In this way, Wanda parks could attract a combined total of 200 million visitors a year by 2020, Wang said.

The income of travel agencies will account for 40 billion yuan (US$6.4 billion) of the predicted 2020 revenue. Wang said Wanda is now China’s largest travel agency with annual revenue this year expected to exceed 10 billion yuan (US$1.6 billion) and projected to break 20 billion yuan (US$3.2 billion) in two years’ time and reach 40 billion yuan (US$6.4 billion) in 2020.

Wang has also not ruled out the possibility of entering the civil aviation market, as resolving transportation issues are the latest Wanda target after the company’s business centers, travel agencies, hotels and even hospitals, Wang said.

Wanda has begun acquisitions of travel enterprises and tourism spots overseas and will likely build up major tourism spots abroad, Wang said.

The cultural industry has been adopted as one of Wanda’s four core businesses. Wanda Cultural Group this year has set up four holding companies in film, travel, sports and children entertainment. It has set a goal for its service industry revenues and net profits to account for more than two-thirds of the group’s total revenues and net profits by 2018, two years ahead of the originally planned 2020, Wang said.


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Article: WCT News

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About

Stefan

Stefan (from Austria, Europe) has been living, studying and working in China since 2010. Stefan has worked on several research, publication and consulting projects focusing on the China Travel Market. He holds two Masters degrees and is an expert on China Outbound Tourism, Marketing and Social Media in China. Stefan works with BMG on the Global Ready China Seminars as well as the Global Ready China News and related projects. He also has teaching engagements in the areas of eMarketing and Tourism Strategy.

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