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Ocean Park Corporation (OPC) today announced its financial results for fiscal year 2022–2023, recording a surplus of HK$118.5 million as its transformation under Ocean Park’s future strategy spurred a revival in visitor numbers and revenue growth.
While inbound tourism only started to recover after Hong Kong’s borders fully re-opened in the first quarter of 2023, Ocean Park and Water World experienced business growth in the 12 months ended 30 June 2023 on the back of effective strategies in generating new revenue streams and creating unique visitor experiences centred on conservation and education.
Achieving strong results on the recovery journey
The number of visitors from home and abroad increased by more than 45% during the period, reaching a total of 2.4 million for Ocean Park and Water World. Revenue growth surpassed footfall growth and surged 54% year-on-year from HK$545.1million to HK$839.1 million, while revenue per capita recorded a year-on-year increase of 6%.
Performance in 2022–2023 was positive across business areas, with admission income up 57%, merchandise income up 55%, catering income up 39% and other in-park spending up 63%, compared with fiscal year 2021–2022.
Collective efforts in enhancing OPC’s financial position resulted in a 28% year-on-year rise in bank balances and cash, which amounted to HK$1,680.5 million as at 30 June 2023.
Paulo Pong, Chairman of Ocean Park Corporation, said, “Creativity and innovation in the way we propelled our future strategy have contributed to improvement in business performance. Our ceaseless efforts in actualising entrepreneurial ideas, curating meaningful visitor experiences, revamping our operating model, managing costs and streamlining our operations are paying off, especially with an improvement in market sentiment after Hong Kong re-opened its borders during the fiscal year.”
A beacon for conservation and education
2022–2023 saw OPC advance its future strategy to reposition Ocean Park not only as a premium leisure and resort destination, but also as an important hub for wildlife rescues, conservation advocacy and education.
Visitor journeys have been elevated to cater for growing public interest in nature-inspired experiences and topics. Revamped or newly launched initiatives well received by visitors include the Sloth and Friends Studio which encompasses an animal habitat, an art gallery featuring AI-generated animal images as well as an education corner aimed at raising awareness on conservation solutions and saving endangered species from extinction.
Together, for a sustainable future
Besides unveiling engaging in-park attractions and programmes, OPC extended its engagement with students and the public through a wide array of outreach initiatives themed around local biodiversity and environmental protection. With a strong line-up of 42 school programmes, 18 family/public programmes and six corporate programmes, OPC’s educational endeavours garnered an impressive total audience reach of more than 12 million during 2022–2023.
OPC further leveraged its best-in-class veterinary and animal husbandry teams to protect animals of the sea, land and air. One key highlight of the period involved its expert care for a 1.9-metre-long non-native crocodile, found in Pat Heung and transferred to Ocean Park by the Agriculture, Fisheries and Conservation Department.
As a non-profit organisation, OPC strengthened its support to the community by playing an active role in reviving tourism alongside the Government’s Hello Hong Kong and Happy Hong Kong promotion campaigns aimed at attracting travellers back to the city and revitalising the local economy following the COVID-19 pandemic.
In addition, OPC gained accreditation for Water World as Asia’s first Autism-Certified Water Park, and hosted free-admission days across both Ocean Park and Water World with learning opportunities for the underserved – a testimony to its commitment to promoting healthy lives and well-being for all.
“2022–2023 reflected OPC’s momentum of recovery post-COVID while we amplified our influence in conservation, education and social inclusion. We could not have achieved this without the Government’s strong support and collective efforts of everyone on our team who enabled the smooth resumption of normal operations amid a tight labour market,” said Paulo. “The road ahead will remain challenging due to volatile global economic conditions and intense competition in the tourism market. We will continue to play to our strengths as we move forward on the path to long-term sustainability under the future strategy for Ocean Park.”
While inbound tourism only started to recover after Hong Kong’s borders fully re-opened in the first quarter of 2023, Ocean Park and Water World experienced business growth in the 12 months ended 30 June 2023 on the back of effective strategies in generating new revenue streams and creating unique visitor experiences centred on conservation and education.
Achieving strong results on the recovery journey
The number of visitors from home and abroad increased by more than 45% during the period, reaching a total of 2.4 million for Ocean Park and Water World. Revenue growth surpassed footfall growth and surged 54% year-on-year from HK$545.1million to HK$839.1 million, while revenue per capita recorded a year-on-year increase of 6%.
Performance in 2022–2023 was positive across business areas, with admission income up 57%, merchandise income up 55%, catering income up 39% and other in-park spending up 63%, compared with fiscal year 2021–2022.
Collective efforts in enhancing OPC’s financial position resulted in a 28% year-on-year rise in bank balances and cash, which amounted to HK$1,680.5 million as at 30 June 2023.
Paulo Pong, Chairman of Ocean Park Corporation, said, “Creativity and innovation in the way we propelled our future strategy have contributed to improvement in business performance. Our ceaseless efforts in actualising entrepreneurial ideas, curating meaningful visitor experiences, revamping our operating model, managing costs and streamlining our operations are paying off, especially with an improvement in market sentiment after Hong Kong re-opened its borders during the fiscal year.”
A beacon for conservation and education
2022–2023 saw OPC advance its future strategy to reposition Ocean Park not only as a premium leisure and resort destination, but also as an important hub for wildlife rescues, conservation advocacy and education.
Visitor journeys have been elevated to cater for growing public interest in nature-inspired experiences and topics. Revamped or newly launched initiatives well received by visitors include the Sloth and Friends Studio which encompasses an animal habitat, an art gallery featuring AI-generated animal images as well as an education corner aimed at raising awareness on conservation solutions and saving endangered species from extinction.
Together, for a sustainable future
Besides unveiling engaging in-park attractions and programmes, OPC extended its engagement with students and the public through a wide array of outreach initiatives themed around local biodiversity and environmental protection. With a strong line-up of 42 school programmes, 18 family/public programmes and six corporate programmes, OPC’s educational endeavours garnered an impressive total audience reach of more than 12 million during 2022–2023.
OPC further leveraged its best-in-class veterinary and animal husbandry teams to protect animals of the sea, land and air. One key highlight of the period involved its expert care for a 1.9-metre-long non-native crocodile, found in Pat Heung and transferred to Ocean Park by the Agriculture, Fisheries and Conservation Department.
As a non-profit organisation, OPC strengthened its support to the community by playing an active role in reviving tourism alongside the Government’s Hello Hong Kong and Happy Hong Kong promotion campaigns aimed at attracting travellers back to the city and revitalising the local economy following the COVID-19 pandemic.
In addition, OPC gained accreditation for Water World as Asia’s first Autism-Certified Water Park, and hosted free-admission days across both Ocean Park and Water World with learning opportunities for the underserved – a testimony to its commitment to promoting healthy lives and well-being for all.
“2022–2023 reflected OPC’s momentum of recovery post-COVID while we amplified our influence in conservation, education and social inclusion. We could not have achieved this without the Government’s strong support and collective efforts of everyone on our team who enabled the smooth resumption of normal operations amid a tight labour market,” said Paulo. “The road ahead will remain challenging due to volatile global economic conditions and intense competition in the tourism market. We will continue to play to our strengths as we move forward on the path to long-term sustainability under the future strategy for Ocean Park.”
