Shalom Life | October 15, 2014

Steven Spielberg is Co-Designing China's New $3.3 Billion Universal Studios Theme Park

The ‘Lincoln’ director is working with the Beijing Tourism Group

By: Ashley Baylen

Published: October 14th, 2014 in Culture » Society » News

Earlier this week, China announced their plans to build a $3.3 bilion Universal Studios theme park in Beijing. On Tuesday, ‘Lincoln’ director Steven Spielberg shared his intent to work alongside the local state firm Beijing Tourism Group to co-design the massive project.

Universal is not the first American company to announce plans of opening an amusement park in China. Both Disney’s $4.4 billion theme park and Dreamworks’ $3.1 billion entertainment complex are expected to open in Shanghai in 2016.

The Universal Studios theme park does not have a set launch date, but according to the BBC, it is expected to open in 2019.

As China continues to grow and expand it’s middle class, international companies are expressing interest in investing in both the entertainment and tourism markets.

According to PricewaterhouseCoopers, China’s entertainment and media market is expected to more than double from 2013 to $148 billion by 2015.

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