Hong Kong's Disneyland to create 5,000 jobs
Sunday June 27, 11:17 pm ET
HONG KONG, June 28 (Reuters) - Hong Kong, which has one of the highest unemployment rates in Asia, will see another 5,000 jobs created when a Disneyland theme park opens in the territory in late 2005, the government said on Monday.
The US$1.8 billion park would begin recruiting executives, guest service managers and operating staff in the second half of 2005, the government said.
Hong Kong's unemployment rate fell to a 26-month low of seven percent in the three months through May, which analysts said would relieve some pressure on the city's embattled Beijing-backed government as it prepares to face a huge pro-democracy march on July 1.
The rate has declined steadily since the middle of last year as the economy recovered, but analysts said jobs would remain a nagging issue for local leaders, who have faced protests over political reform and their handling of the economy.
The new recruits would receive two to three months training before the park opened, Hong Kong International Theme Parks Ltd, a joint venture between Walt Disney Company (NYSE
IS - News) and the territory's government, said in a progress report.
Land reclamation and infrastructure building before the park's construction have already created over 5,700 jobs, while another 4,000 people will be employed during the park's peak construction period in 2004 to 2005.
The theme park is also expected to provide a further shot in the arm for Hong Kong's tourist industry, which has bounced back from 2003 when it was devastated by the SARS outbreak.
Mainland tourists are expected to be among the main visitors to the park. They have flocked to Hong Kong since Beijing relaxed visa restrictions for several cities in Guangdong, Beijing and Shanghai in 2003 and the scheme is due be widened soon.
Previously, mainlanders could only visit Hong Kong as part of a tour group.
But some fear that the park, which features Disney characters such as Mickey Mouse, will suffer from competition from a rival Shanghai Disneyland planned for 2010.
Sunday June 27, 11:17 pm ET
HONG KONG, June 28 (Reuters) - Hong Kong, which has one of the highest unemployment rates in Asia, will see another 5,000 jobs created when a Disneyland theme park opens in the territory in late 2005, the government said on Monday.
The US$1.8 billion park would begin recruiting executives, guest service managers and operating staff in the second half of 2005, the government said.
Hong Kong's unemployment rate fell to a 26-month low of seven percent in the three months through May, which analysts said would relieve some pressure on the city's embattled Beijing-backed government as it prepares to face a huge pro-democracy march on July 1.
The rate has declined steadily since the middle of last year as the economy recovered, but analysts said jobs would remain a nagging issue for local leaders, who have faced protests over political reform and their handling of the economy.
The new recruits would receive two to three months training before the park opened, Hong Kong International Theme Parks Ltd, a joint venture between Walt Disney Company (NYSE
IS - News) and the territory's government, said in a progress report.Land reclamation and infrastructure building before the park's construction have already created over 5,700 jobs, while another 4,000 people will be employed during the park's peak construction period in 2004 to 2005.
The theme park is also expected to provide a further shot in the arm for Hong Kong's tourist industry, which has bounced back from 2003 when it was devastated by the SARS outbreak.
Mainland tourists are expected to be among the main visitors to the park. They have flocked to Hong Kong since Beijing relaxed visa restrictions for several cities in Guangdong, Beijing and Shanghai in 2003 and the scheme is due be widened soon.
Previously, mainlanders could only visit Hong Kong as part of a tour group.
But some fear that the park, which features Disney characters such as Mickey Mouse, will suffer from competition from a rival Shanghai Disneyland planned for 2010.