Clan Mutsoev and Sergei Sobyanin will surprise Moscow residents with a new cut

Moscow amusement park "Island of Dreams" hopes to repeat the success of Disneyland. Do public and private investments pay off in entertainment parks at the height of the crisis?
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Soon, over Andropov Avenue in Moscow will be a bridge - from the metro station "Technopark" to the under construction amusement park "Island of Dreams" an overhead crossing with elevators and trawlathons will be built. "We plan to open the opening next year," Moscow Mayor Sergei Sobyanin wrote on Twitter.

"Dream Island" is our answer to Disneyland, an indoor theme park, which the group of companies "Regions", owned by the family of Mutsoyevs, builds on a 100 hectare site 10 minutes drive from the Kremlin. The total area of ​​buildings there will exceed 292,000 square meters. m, in addition, part of the territory will be given under a free for visitors landscape park. In an interview with Forbes, the main investor of the project, Amiran Mutsoyev, said that the "Island of Dreams" will be visited at the start of the order of 7-8 million people per year, and taking into account the landscape park - up to 40 million. The volume of investments in the first phase of the project will be 43 billion rubles, VTB has allocated a credit line for 37 billion. Will the "Island of Dreams" outshine the most famous theme park in Europe?

In 1984, the managers of the Walt Disney Company investigated 1200 sites ("Regions" chose between the site in Nagatino and in Khoroshevo-Mnevniki). The most interesting thing about the Americans was Spain thanks to its climate and France, the cultural center of Europe. As Lawrence Novell, Associate Professor of the Law Department of Ohio University, writes in her work "Mickey Goes to Europe", the French and Spanish governments launched a real price war, promising more concessions to the Americans. France won: Disney received 1800 hectares of land near Paris at a bargain price, a government loan of € 700 million and a promise to invest € 400 million in infrastructure and build a railway.

In 1989, Euro Disney Land, the main shareholder of which was the American "Disney", attracted during the IPO € 130 million for the construction of a theme park. The shares were bought not only by professional, but also by private investors who believed in the magic of Disney. A substantial part of the construction costs of the American company was financed by issuing bonds worth over $ 2 billion.

Paris Disneyland was inaugurated in April 1992 and then expanded several times. At first glance, the project seemed successful, as the participants expected. Since the opening of the amusement park visited 320 million people. According to its own estimates, over 25 years of work, the European Disneyland has attracted € 80 billion in tourist money to the French economy. The company employs 15,000 people today, and more than 56,000 jobs have been created. In 2016, the park was visited by 13.4 million people, they ate 21 million breakfasts, lunches and dinners, not counting snacks. Over the years, the company paid over € 5.3 billion in taxes to budgets of various levels. Does it sound victorious?

But this medal has another side. For 25 years of work, European Disneyland has shown profit only seven times. In the first years it was necessary to reduce the price of entrance tickets by one third from the original one in order to increase the attendance from 8.8 million people in 1994 to 11.8 million in 1996. In 2013, 14.9 million people came to the amusement park, after which the number of visitors only decreased. The company Walt Disney had several times to capitalize on its European "daughter", investing billions, and redeem its debts. In 2016, the revenue of Euro Disney S.C.A. decreased by 7% compared to 2015 and amounted to € 1.278 billion, consolidated debt - € 1.135 billion, and operating loss - € 242 million.

Managers of the company associate failures with bad weather, bold borrowing of past years, as well as with terrorist attacks on European cities, which affected the attendance of public places. However, all agree that the main reason is the deterioration of the economic situation in Europe. The "Dream Island" project for the fourth year, the economic situation in Russia has also worsened during this time, and the incomes of the population have decreased.