Hong Kong Disneyland Hong Kong Disneyland (HKDL) is a theme park with two on-sit
ID: 1142589 • Letter: H
Question
Hong Kong Disneyland Hong Kong Disneyland (HKDL) is a theme park with two on-site hotels owned jointly by the Hong Kong government and Walt Disney Company. The project was announced in November 1999 with media reports suggesting that up to 36,000 jobs would be created. HKDL was finally opened in September of 2005. The government estimated that the first phase of the theme park would generate $19 billion in net benefits to the economy over a 40 year period. a. Examine two benefits of the HKDL public-private partnership to Hong Kong. (4 mark Discuss two reasons why the Walt Disney Company may have wanted to pursue a public-privat partnership with Hong Kong. b. (4 mar c. What is meant by the public sector?Explanation / Answer
a) Public private partnership for a disneyland will create employment opportunities and will boost the economy of Hong Kong.Opening up of a disneyland will create employment opportunities for a number of unemployed and there will be an improvement in the standard of lving.
b)When there is Public Private partnership the risk of loss or gain is distributed among both which is a better option.The resources will also be distributed.Whatever economic benefits will be there will even enter to Hong Kong as the government has the partnership in the opening up of a disneyland.
2)The two reasons why the walt disney company may have wanted to pursue a public private partnership with Hong Kong are
a)When there will be partnership the company will be able to use the resources needed from the economy which will be beneficial for the company.
b)Investment required will be distributed and as a result the risk factor will also be distributed between public and private sector.There will be less risk management expenditures.
3)Public sector refers refers to those sectors which are regulated and controlled by state.Powers and functions and all the economic decisions are taken by the state rather than private sectors.
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