Walt Disney World The Most Famous Theme Park in The World is Currently in crisis.
Walt Disney World typically welcomes millions of visitors a year, but by 2023, things will look very different.
With multiple reports showing that Disney’s theme parks have been surprisingly empty this summer, there are several reasons for the company’s continued slump.
With ticket prices soaring this year and Americans’ spending power once again falling,
many families can no longer afford to visit Disney’s famous parks, causing further financial damage to the entertainment giant.
Walt Disney World is currently in an unprecedented crisis.
Today, we decided to uncover the real reasons behind Disney’s growing problems.
According to an attendance analysis from travel company Touring Plans,
Disney’s flagship Orlando, Florida, theme park is seeing “shockingly low crowds” this summer.
Analysts note that 4th of July weekend attendance “more closely resembled September” and was the worst in 10 years.
This is despite the holiday season traditionally being one of the busiest times at Disney World theme parks.
Travel agents use figures provided by Disney’s mobile app, which tracks day-to-day attendance by dwell times, and established that at Disney World Magic Kingdom,
which has been described by the Orlando tourism board as the world’s most notorious theme park,
the average delay time for the 4th of July holiday was 27 minutes.
This was a radical change from 47 minutes before the epidemic.
Disney World’s Animal Kingdom, meanwhile, had an Independence Day dwell time of just 25 minutes,
Traveling Plans reported, about 10 minutes less than the 34 nanosecond delay last time.
However, the biggest drop was recorded at park’s Hollywood Studios, where the average dwell time on the 4th of July was just 18 minutes.
According to the travel company, this was a huge drop from 2022, when dwell times at the venue were 44 minutes.
Overall, the 4th of July holiday was the third slowest day at Disney World in the last twelve months.
Indeed, the drop in business attendance is bad news for the entertainment giant,
which is in the midst of a $5.5 billion cost-cutting campaign that has resulted in more than 7,000 layoffs across its divisions,
including sports network conglomerate ESPN, so far this year.
While Walt Disney World…
Is often seen as the quintessential family holiday spot for American households,
extravagant ticket price increases are playing a major role in the falling backlog to get into the parks.
Disney CEO Bob Iger has also raised the price of certain attractions and imposed ticket fees for previously offered free rides.
Numerous park-goers have complained loudly about “Disney raising ticket prices and banning free services,” the Journal reported.
Now that recession is at the door, and Americans’ savings rates are plummeting, consumers are reluctant to spend on cherished family breaks, such as visits to theme parks.
Federal Reserve research established that US households had already completely exhausted their redundant savings from the epidemic period.
The entertainment giant has not endured such a severe drop in park visitation since its founding,
and deteriorating profitability conditions will clearly complicate matters further.
The outlook remains bleak for Disney, and with so many fiscal losses piling up, we can only hope that its new products will save the day.
Disney Goes Empty As Americans Can’t Afford Explosive Prices.
👉 If you liked this information, you can’t miss it: Recession Predictions YOU should be PREPARED!
That is a universal desire, how can you win with money? How can you create independent wealth and hold on to it? This inspiring book by self-made multi-millionaire Rob Moore explains the rules of the game, shares simple tricks for managing money better, details how to create a plan for an ambitious future, and shows you the very best way to become a millionaire – to think and behave like one!