The Magic of Experience: How Hong Kong Can Lead the Future of Global Tourism

By Michael Moriarty, Managing Director, Hong Kong Disneyland, and appointed member of the Hong Kong Tourism Strategy Committee

HKDL marked its strongest performance since its opening in fiscal year 2024 and entered its 20th anniversary milestone this year. The resort will continue to build on this momentum to help reinforce Hong Kong’s reputation as a world-class tourism city.

Hong Kong stands at a pivotal moment in its tourism journey.

The city has made commendable efforts in reigniting interest—through government subsidies, mega-events, and promotional campaigns. Yet, the question remains: how do we ensure this rebound becomes a renaissance?

The answer lies not in discounts, but in delivering lifelong memories.

As a city known for its vibrancy, diversity and global connectivity, Hong Kong must now lean into what truly sets it apart: its ability to deliver emotionally resonant, culturally rich, and unforgettable experiences. In today’s travel landscape, experiences are the new currency. And the most valuable ones are those that spark joy, create memories, and inspire multiple return visits.

To celebrate its 20th anniversary, HKDL presents brand-new party entertainment experiences, including HKDL’ grandest ever nighttime spectacular, largest parade and a castle stage show.

At Hong Kong Disneyland Resort (HKDL), we’ve seen this firsthand. Fiscal year 2024 marked our strongest performance since opening—not because we lowered prices, but because we elevated the experience. We listened to our guests, adapted to their evolving preferences, and delivered immersive, personalized offerings that connected deeply. From the viral success of the Jungle River Cruise skippers to the launch of the world’s first and largest World of Frozen, our strategy has been clear: create experiences that endure beyond the moment.

This year, as we celebrate our 20th anniversary, we’re reminded of how deeply embedded HKDL is in the fabric of Hong Kong’s tourism and community life. We’ve grown alongside the city, not just as an attraction, but as a place where aspirations are realized—for guests and cast members alike. Our commitment to cultural relevance and civic engagement has built a foundation of trust and goodwill that no subsidy can replicate.

HKDL is deeply embedded in the fabric of Hong Kong community and committed to civic engagement. To celebrate its 20th anniversary, the resort will donate over HK$5 million to support sick children and youth development.

During periods of economic uncertainty, we have remained steadfast in our commitment to continuously invest in our people and our products. In recent years, we’ve transformed Hong Kong Disneyland with the reimagined Castle of Magical Dreams, daytime castle show “Follow Your Dreams,” Momentous Nighttime Spectacular and World of Frozen — each milestone reinforcing our efforts to draw repeat visitation and appeal to broader audiences around the world.

But the true strength of our industry lies in the people who bring these experiences to life every day.

HKDL remains steadfast in its commitment to creating innovative experiences, connecting the dots across sectors to ignite the future of Hong Kong tourism.

Investing in the training and well-being of employees is not just good business—it’s essential to our identity as a top destination. At HKDL, we consider our cast members ambassadors of the Disney brand and a reflection of our local culture. When we empower our teams and treat them with respect, they can elevate the guest experience and help reinforce Hong Kong’s reputation as a welcoming, world-class city.

The lesson is simple: exceptional experiences drive both revenue and resilience.

Hong Kong’s Tourism Blueprint 2.0 rightly emphasizes mega-events and destination branding. To truly differentiate ourselves from neighboring cities, we must pair these events with immersive products that reflect Hong Kong’s unique character. That means bold collaborations, seamless storytelling, and a readiness to innovate together.

HKDL has seen powerful results by joining hands with Hong Kong International Airport and the MTR to create buzz, and with travel agents and airlines to bundle park tickets with concert tickets and other experiences that extend stays. These joint efforts don’t just drive visitation—they deepen engagement and build affinity to Hong Kong. Our themed cable cars with Ngong Ping 360, our cultural collaborations with the Hong Kong Philharmonic Orchestra and Hong Kong Ballet, and city-wide activations during the 20th anniversary celebration are all proof that when we connect the dots across sectors, we create something truly memorable.

The global market is shifting in our favor. Travelers from mainland China, Southeast Asia, the Middle East and beyond are seeking authenticity over bargains. They want to feel something authentic. Be a part of something meaningful. And Hong Kong is perfectly positioned to deliver that—if we lead with innovative thinking and a united approach.

Some may question whether Hong Kong can reclaim its former standing. I believe we can do more than that. We can redefine it.

By embedding local culture into global brands, embracing innovation, and fostering cross-sector collaboration, Hong Kong can become the model for sustainable tourism for decades to come. This is not just about economic recovery—it’s about renewing emotional connections. It’s about giving people a reason to believe again, to travel again, and to rediscover Hong Kong in ways that leave a lasting impression.

As Walt Disney once said, Whatever we accomplish belongs to our entire group.” “For Hong Kong, that group includes government, industry, community, and our global visitors. We collectively have the power to turn this moment into a movement.

Let’s bring this vision to life—and ignite the future of Hong Kong tourism together.

Hong Kong Disneyland Resort (HKDL) today shared its business results for the fiscal year 2025 and the latest resort developments. (Note: FY25 began on September 29, 2024 and ended on September 27, 2025)

FY25 marked a milestone year for HKDL as the resort celebrated its 20th anniversary (20A). Building on compelling 20A offerings and effective product and commercial strategies, HKDL delivered consecutive years of top financial performance, achieving near-record revenue, earnings before interest, taxes, depreciation and amortisation (EBITDA) and net profit in the resort’s history.

Park attendance totalled 7.5 million while overall hotel occupancy was around 80%.

Photo By Hong Kong Disneyland

Key financial highlights in FY25

• HKDL recorded strong financial results with net profit at HK$536 million, revenue at HK$8,694 million, and EBITDA at HK$1,989 million. These accomplishments are especially notable given the rapid resumption of Hong Kong’s outbound travel, ongoing macroeconomic uncertainty, as well as the extreme weather conditions in Hong Kong in 2025, all of which have influenced travel patterns and visit intent.

• Total attendance was 7.5 million. Per capita guest spending reached historic high with an increase of 2% over prior year.

• Hotel performance remained solid, with overall occupancy increasing six percentage points to 79%.

• By the end of FY25, HKDL had fully repaid the outstanding balance of term loans from its shareholders and is now free of loan for the first time in its history, underscoring the resort’s solid financial position.

Tim Sypko, Managing Director, Hong Kong Disneyland Resor. Photo By Hong Kong Disneyland

Tim Sypko, Managing Director, Hong Kong Disneyland Resort, said “Our steady performance is a testament to the resort’s resilience and timeless appeal. These results reflect the power of the Disney brand and our successful business strategy, including sustained investment in regional marketing activations, innovative offerings and enhanced seasonal events, many of which can only be found at HKDL. Anchored by the launch of our 20th anniversary celebration, the milestone further captivated guests and reinforced our positioning as an international tourism leader in the region.

“This achievement, more than 20 years in the making, is made possible by the passion and dedication of our cast members, as well as the deep and enduring connection our guests share with Disney.”

Other Key Accomplishments in FY25

• Captivating worldwide tourists through 20th anniversary: HKDL launched “The Most Magical Party of All!” in June 2025, featuring its largest and most spectacular parade, “Friendtastic!”, the daytime castle show “Disney Friends Live: Party at the Castle!”, and nighttime spectacular “Momentous: Party in the Night Sky.” The year-long celebration, complemented by exclusive merchandise, food and beverage offerings, delivered even more exciting experiences to local and inbound guests.

Photo By Hong Kong Disneyland

Integrated marketing campaigns were launched across Chinese Mainland and other key markets, inviting guests to join in on the celebration. Travel trade events were also hosted in targeted markets including Tokyo, Singapore, Seoul and Manila, to further strengthen HKDL’s regional appeal.

• Driving “+Tourism” through mega events and citywide collaboration: In alignment with the Development Blueprint for Hong Kong’s Tourism Industry 2.0, HKDL capitalised on opportunities to host mega events and created synergy to boost tourism by collaborating with major local attractions and enterprises. In addition to 20A celebration, another HKDL’s annual mega run event, 10K Weekend, which was held in November 2024, reached a then record-high participation of nearly 20,000 runners, drawing participants from near and far with one in four runners coming from outside Hong Kong.

On citywide collaboration, HKDL worked with the tourism industry to introduce “concert + HKDL” bundled tickets with world-renowned artists, which were well received by guests. Outreach of 20A marketing campaigns also extended to local tourism icons such as Kai Tak Sports Park, Ngong Ping 360, and Hong Kong International Airport, creating citywide tourism synergy.

• Enhancing guest experience with innovative offerings: HKDL elevated overall guest experience ratings to a historic high and stimulated repeat visitation by enhancing existing attractions and immersive interaction to bring Disney stories to life. The “Jungle River Cruise” was reimagined with cast-driven storytelling to interact with guests, generating considerable social buzz. “Mickey’s PhilharMagic” was re-opened with enhanced technology and introduction of a new scene inspired by beloved Disney and Pixar film “Coco”. The enhancement enabled HKDL to host film premieres such as Disney’s “Lilo & Stitch” and “The Fantastic Four: First Steps” in FY25 and even MICE events in the future.

Another new experience was the debut of “Wayfinders’ Table” which enhanced with details from the popular Disney Animation film “Moana”. Aligned with Hong Kong’s tourism strategy, the reimagined restaurant also features Halal-certified options.

• Maintaining strong appeal through seasonal events: HKDL has established itself as a unique tourism anchor for Hong Kong — positioned as the destination for celebrating festivities such as Halloween, Christmas, and New Year’s Eve. The first snowy Christmas in World of Frozen was unveiled in FY25, alongside the drone show at Tree Lighting Ceremony and “Disney Christmas Live in Concert!”, resulting in a record number of non-local guests in December 2024.

Growing Together for 20 Years: Commitment to Tourism, Economy, and Community

Deeply rooted in Hong Kong, HKDL continues to contribute to the city’s economy and community. As part of its 20A celebration, HKDL introduced a series of community initiatives, and a total of over HK$10 million donations — including HK$5 million in cash to support children in hospitals and youth development, as well as gift-in-kind contributions to individuals in need. The resort also provided more than 200,000 complimentary park tickets to the community — doubling the resort’s average annual ticket donation in the past.

• Key pillar of Hong Kong’s tourism and economy: Taking the past 20 years of operation together, the total value-added to Hong Kong generated by HKDL amounted to HK$167.5 billion. A total of 342,100 jobs were also created for frontline workers and the travel industry, benefiting Hong Kong’s overall economy. In 2025, HKDL continued to be the top paid attraction in Hong Kong.

• Job creator for magic makers: HKDL employed approximately 9,000 full-time and part-time staff during FY25, remaining as one of Hong Kong’s largest employers in the tourism and family entertainment industry.

• Continued community services: Over the past 20 years, HKDL has contributed close to 130,000 Disney VoluntEARS hours (i.e. HKDL cast members participating in organised volunteer activities), delivering joy, assistance, and comfort throughout the community.

• Highlights of community work include:

Initiative Key Highlights

Supporting Children in Hospitals Donation exceeding HK$2.5 million to expand “PlayWell with Disney” to 15,000 beneficiaries across eight hospitals, expanding to Shenzhen. Disney VoluntEARS provided regular visits and emotional support.

Youth Empowerment and Creativity HK$2.5 million donation for youth development. Launched “Hong Kong Disneyland Dance-off Party” with four NGOs. Introduced new scholarship for creative university students.

Caring for the Environment Developed Hong Kong’s largest car park solar canopy with over 7,500 solar panels. Donated 160 tonnes of food for those in need since opening.

Standing with the Community Committed HK$10 million in cash and in-kind donations to provide assistance for those affected by the Tai Po fire in FY26.

More Magic in the Making: One-of-a-kind Pixar Entertainment Experience Launching Next Year

While “The Most Magical Party of All!” 20th anniversary celebrations will continue until June 7, seize the final opportunity to experience the anniversary-limited celebration before the party ends, including “Disney Friends Live: Party at the Castle!”, the resort’s largest-ever parade, “Friendtastic!” and the nighttime spectacular, “Momentous: Party in the Night Sky”.

Photo By Hong Kong Disneyland

Starting early May, guests can look forward to an all-new, enchanting encounter when they chance upon Olaf in World of Frozen at HKDL. Magically brought to life by Walt Disney Imagineering Research & Development through next-generation robotics utilizing reinforcement learning, the self-walking, free-roaming robotic character will delight guests with surprise greetings as a special ambassador for the kingdom of Arendelle.

Starting from June 12, get ready for a Pixar-filled summer at Pixar Summer Fest! Come meet and play with beloved Pixar pals as they fill the park — get splashed and cheer on the "Pixar Water Play Street Party!", and experience the all-new Pixar Pals Spectacular, lighting up the night just before the “Momentous” nighttime spectacular.

Pixar Pals Nighttime Spectacular. Photo By Hong Kong Disneyland

Photo By Hong Kong Disneyland

Photo By Hong Kong Disneyland

Riding the wave of excitement for the upcoming Disney and Pixar film “Toy Story 5” and Pixar’s 40th anniversary, this will sustain the momentum for the resort’s upcoming one-of-a-kind Pixar entertainment experience. Construction is well underway on the park’s exciting expansion, bringing new Pixar-themed and Marvel-themed experiences to life. The Pixar entertainment experience will debut next year as an immersive theatrical adventure.

Unique to Hong Kong, the new Marvel-themed experience features an all-new attraction alongside immersive entertainment and distinctive retail offerings. Inspired by Tony Stark’s vision for a better future, the area brings together brilliant minds from the Avengers and their allies in Hong Kong, working collaboratively to showcase their most cutting-edge inventions and technologies.

Photo By Hong Kong Disneyland

Photo By Hong Kong Disneyland

Tim Sypko, Managing Director of Hong Kong Disneyland Resort, said, “Supported by a growing base of Disney fans across key markets and a strong pipeline of new and innovative offerings, HKDL is optimistic about its long-term prospects and confident in its important role as an international travel destination for Hong Kong and the Greater Bay Area.”

Hong Kong Disneyland FY25 Business Review

Hong Kong Disneyland FY25 Contribution to HK