Shanghai Disneyland marks 10 years as visitors keep spending
Disney’s Shanghai resort has reached 100 million total visits, even as broader Chinese consumer spending weakens.
By Sofia Marchetti · World Affairs Correspondent
3 min read
Shanghai Disneyland is drawing strong crowds a decade after opening, giving Disney a visible bright spot in China while household spending remains under pressure. The resort reached 100 million cumulative visitors in 2025, Disney told CNBC, underscoring the park’s role in the company’s global parks business.
Bob Iger, Disney’s former chief executive and a current board member, traveled to Shanghai for the resort’s 10th anniversary events, CNBC reported. Iger told CNBC he felt pride in the milestone and said he had been involved with the project since its early development in the late 1990s.
Iger said the resort’s success mattered both to Disney and to people in China, according to CNBC. He declined to comment on reports that Disney is considering another theme park in China.
A key part of Disney’s parks business
Disney’s experiences division, which includes theme parks, resorts, cruise lines and merchandise, generated nearly $9.5 billion in revenue in the quarter ended in March, CNBC reported, citing the company’s latest results. That was up 7% from a year earlier.
The division is Disney’s second-largest business, CNBC reported. It accounts for nearly 40% of total revenue and close to 60% of operating income.
Shanghai Disneyland ranked as the world’s fifth most-visited theme park in 2024, according to the Themed Entertainment Association data cited by CNBC. The park drew 14.7 million visitors that year, up 5% from 2023, trailing Disney parks in Orlando, Anaheim and Tokyo, as well as Universal Studios Japan.
Disney is also expanding elsewhere outside the United States. CNBC reported that under newly appointed CEO Josh D’Amaro, the company has a cruise ship based in Singapore and plans for a park and resort in Abu Dhabi, United Arab Emirates. Disney announced in 2023 that it planned to invest $60 billion in parks over 10 years, CNBC reported.
Iger told CNBC that Disney’s real estate holdings and intellectual property give the company room to grow, adding that expansion can continue as long as the business remains successful.
Chinese consumers choose where to spend
The strength at Shanghai Disneyland contrasts with weaker consumer data in China. CNBC reported that retail sales fell in May for the first time in three years, while car sales were down by double digits.
Lin Huanjie, president of the Institute for Theme Park Studies in China, told CNBC in written comments that young consumers are still spending, but are paying closer attention to value. Lin said visitors will pay when a Disney trip offers lasting memories, social media appeal and emotional value, while more routine outings face tighter budgets.
CNBC interviewed several guests who described saving in other areas to spend at the park. Wang Jiandong said he and his girlfriend, Yan Xu, had cut back on meals out and daily expenses so they could afford the visit.
University student Smile Wei told CNBC that she and a friend had budgeted 5,000 yuan, or $735, for a five-day Shanghai trip and had already spent one-fifth of it at the park. Wei said they chose a single hotel bed instead of a room with two beds to leave more money for souvenirs.
Another visitor, Shanghai resident Wang Lu, told CNBC she wanted to be at the resort on June 16 because the date matched both her birthday and the park’s 10th anniversary.
This story draws on original reporting from CNBC.