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Ocean Park
Opinion
SCMP Editorial
SCMP Editorial

Editorial | Pandas alone won’t save Hong Kong’s Ocean Park in the long term

The 48-year-old theme park recorded another deficit despite increased visitor numbers. It will have to reinvent itself to survive

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Visitors look at giant pandas Jia Jia (left) and De De at Ocean Park on October 22. Photo: Sam Tsang
SCMP Editorial
The expanded giant panda family at Ocean Park has done more than bring people joy and warmth. But while it is good that the beloved furry friends continue to draw more visitors from near and far and boost revenues for the cash-strapped theme park, it will take more than the so-called panda economy to save the declining tourism attraction in the longer term.

The 48-year-old brand attracted 10 per cent more visitors year on year, reaching 3.46 million in 2024-25. Locals accounted for most of the park’s attendance, with the number rising by 9 per cent year on year to 2.21 million, or almost two-thirds of the total. The remaining came from other places, including mainland China, the United States, Australia and India, an increase of 12 per cent to 1.25 million. Revenue also grew by 9 per cent to HK$1.28 billion (US$164.7 million), with in-park spending jumping 35 per cent to HK$110.6 million, while merchandising income rose 20 per cent to HK$172.5 million.

Encouraging as this is, the park’s deficit has deepened to HK$274.7 million in the 12 months to June 30 from HK$71.6 million in the same period a year ago, due to higher expenses such as depreciation and losses from the Water World attraction, which recorded a deficit of HK$148.3 million from operations. The park conceded that there is a gap between the concept and the actual performance of the Water World facility and would not rule out the option of the government taking it over to help curb the deficit.
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Hit with a ballooning deficit, the theme park has been under growing pressure to reinvent itself in an increasingly competitive leisure and entertainment market. While a lifeline came last year following the timely addition of four giant pandas – two born locally and two gifted from mainland China – the panda fervour will wear off over time.

Just like other tourist hotspots, the theme park must thrive on innovation and appeal. That means reinventing itself as it reaches out to a wider market. This is not easy given the financial constraints and growing competition in the tourism world. But as a home-grown brand with high affinity and support, the park needs more attractions and can’t just pin its hope on pandas for survival and beyond.

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