Despite achieving the highest visitor numbers and revenue in the past five years, Ocean Park Hong Kong still reported a loss in its latest annual report.
For fiscal year 2023-24, which ran from July 2023 to June 2024, the park's total revenue increased by 41% year-on-year, reaching HKD 1.181 billion（about USD 151 million). Visitor numbers rose from 2.36 million in the previous year to 3.14 million, marking a 33% increase.
Despite these impressive figures, the park still recorded a loss of HKD 71.6 million (nearly USD 9.2 million), primarily due to high operational costs.
In the 2023-24 fiscal year, the park’s total expenditure amounted to HKD 1.48 billion（about USD 190 million）, up 17% year-on-year. A significant portion of this, HKD 437.6 million (USD 56 million), was allocated to conservation and educational initiatives, accounting for nearly 30% of total operating costs.
This situation is especially challenging for Ocean Park Hong Kong, which is positioned as a "non-profit organization."
Unlike for-profit companies that can raise funds through public or private offerings, non-profit organizations either have to be self-sustaining or rely on government grants and support from other organizations.
Funding from the Hong Kong government has been reduced by several hundred million Hong Kong dollars, further exacerbating the financial strain.
Looking ahead, Ocean Park Hong Kong has completed the tendering process for a new adventure-themed area, which was set to open in 2028. The new area is expected to become a new driver for the park’s future growth.
