Walt Disney plans $2.4bn investment to expand Paris amusement park

The Walt Disney group on Tuesday said it would invest two billion euros ($2.46 billion) to expand Paris amusement park, the US group's largest investment in Disneyland Paris since 1992.

The new expansion plan includes transforming Walt Disney Studios Park by building three new lands dedicated to popular brands Marvel, Frozen and Star Wars, in addition to several new attractions and shows, Xinhua quoted the group as saying.

Works will start by 2021 "offering even more opportunities for the tourism industry in France and Europe," it added.

"This investment, the largest investment we made since Disneyland Paris opening, is the direct result of growing confidence we have in the economy of Europe and of France in particular," said Bob Iger, Disney chairman and CEO.

After meeting with the US entertainment giant's boss at the Elysee Palace, French President Emmanuel Macron welcomed the long-term investment which he said showed a "very strong commitment" to France.

"Your confidence shows that France is back," Macron tweeted.

Created in 1992 in Marne-la-Vallee, in the eastern suburbs of the French capital, Disneyland Paris is Europe's most popular private tourism destination with 320 million visits since its opening.

The amusement park represents 6.2 per cent of France's tourism income, according to the group's figures.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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