China Herald: Consumers still spend on experiences and kids

Shaun Rein

Shanghai Disney opened this week after five years of preparing while China´s growth had been relatively slowing down. But business analyst Shaun Rein does not see this mega operation will be hurt by dropping consumer spending. Chinese still spend on experiences and their kids, he tells AP.

AP:

"I think it's really lively here and every girl can realize her dream of becoming a princess," said Gong Haiyan, a visitor from western China's Sichuan province. Wang Lei, 34, said she liked the park, despite long waits for some things.

"I'm sure I will go again, maybe again and again," said Wang, a buyer for a Shanghai food chain. "I'll bring my kids and relatives from my hometown."

Chinese are not cutting back on tourism despite the weak economy, said Shaun Rein, managing director of China Market Research in Shanghai.

"They are still spending on experiences and on their kids," Rein said. "It's going to be a huge success. Everybody in China who has a kid or a grandkid is going to want to go to Shanghai Disney."...

In the Shanghai park, Disney needs its Chinese partner's approval to change restaurant prices and other management details.

"They are hamstrung in a lot of areas," said Rein. But still, he said, Shanghai Disneyland "is far above anything else in China."

More at AP.

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