Research On The Market Risk Of Shanghai Disneyland At The Initial Stage Of Opening

With the arrival of the era of universal leisure,the leisure time and leisure tourism consumption of Chinese is increasing.It promotes the rapid expansion of theme park industry in China.But at the same time,market competition of theme parks is becoming more intense,which causes more and more serious market risk.Shanghai Disneyland has drawn much attention before opening.However,there is still lots of market risk when Shanghai Disneyland facing the complicated and diversified environment of Chinese market.The market risk has posed a severe challenge to the sustainable development of Shanghai Disneyland.This paper focused on Shanghai Disneyland and tried to analyze the characteristics and influential factors of its market risk at the initial stage of opening by combining theoretical analysis with empirical analysis which included the methods of literature review,interviews and questionnaire survey.The following main research conclusions are obtained:Firstly,Shanghai Disneyland faces multiple dimensions of market risk at the initial stage of opening.The respondents have low expectations,tolerance and support for Shanghai Disneyland.Secondly,further investigation into the data by factor analysis shows that the market risk of Shanghai Disneyland at the initial stage of opening is mainly composed of risk of investment returns,tourist experience,social environment,management,tourist market,industrial supporting.Thirdly,structural equation model is used to study the relationship among the risk of investment returns,tourist experience,social environment,operation and management,tourist market,industrial supporting and support.In this model,risk of management and industrial supporting has significantly positive effect on risk of investment returns.Management risk has significantly positive effect on social environment risk.Industrial supporting risk has positive impact on management risk.Among the factors of market risk,risk of investment returns,social environment,management has positive impact on tourist market risk,while tourist experience risk has negative effect.The risk of social environment,management,industrial supporting has direct positive impact on tourist experience risk.Tourist market risk influences support negatively,while tourist experience risk influences positively.Finally,this paper puts forward some suggestions for Shanghai Disneyland on how to enhance the ability of risk prevention and management.These conclusions andsuggestions are meaningful to provide strong theoretical support for the research of market risk of domestic theme parks and promote the sustainable development of tourism projects.