Disney will invest 2 billion euros — about $2.4 billion — into Disneyland Paris in an expansion of the park that will focus on Marvel, Frozen and Star Wars, the company announced Tuesday.
Walt Disney Company Chairman and CEO Robert Iger made the announcement alongside French President Emmanuel Macron at the Palais de l’Elysée in Paris.
The company said the investment is one of its biggest expansions of the park since its opening in 1992.
“We’re very excited about the future of Disneyland Paris and continue to invest in its long-term success,” Iger said in a statement. “The resort is already the leading tourist destination in Europe, and the transformative expansion we announced today will add even more of our beloved characters and unparalleled storytelling to create new lands, attractions and entertainment that further elevate the guest experience and drive new opportunities for tourism in this dynamic region.”
The expansion is set to begin in 2021. It’s not clear how long it will take to complete.
Macron said Disney’s $2.4 billion investment shows that “France is back,” CNN reported.
Disneyland Paris is a crucial part of France’s tourism industry, accounting for 6.2 percent of the country’s tourism revenue and more than 16,000 jobs.
By Ray Downs