After 13-years of knocking at the door, Universal Studios finally has the go-ahead to set up a theme park in China.

The entertainment company will invest US$3.2bn in Beijing Universal park, which is being designed with the help of Hollywood director, Steven Spielberg, and with the support of Beijing Tourism. Although Universal has not given an opening date, the park is rumored to be ready by 2019.

Universal will follow Walt Disney and DreamWorks Animation, which are also establishing theme parks in the vast Asian market. According to the BBC, Disney's US$4.4bn theme park and DreamWorks' US$3.1bn entertainment complex are set to open in Beijing in 2016.

With a rapidly swelling middle class, American firms are rushing for a share in China’s fast-growing entertainment industry, which PwC has tipped to more than double from 2013 to US$148bn by 2015.

Source from <Travel Daily Asia>