How Would the Orlando Theme Parks Deal With a Recession?
in SeaWorld, Theme Parks, Universal Orlando, Walt Disney World
As the broader economy shows signs of a potential slowdown, what could this mean for the Orlando area Theme Parks, such as Walt Disney World Resort, Universal Orlando Resort, and SeaWorld Orlando?
There is no question that the last few years have been anything but a wild rollercoaster ride for the Orlando Theme Park industry. Beginning with a pandemic in March 2020 that forced the Orlando area Theme Parks to shut down to a political controversy between Florida Governor Ron DeSantis and The Walt Disney Company and CEO Bob Iger, there have been several hoops that the industry has had to jump through.
Despite the obstacles, business has been good for the Orlando-based Amusement Parks. 2022 was a big year for attendance, and 2023 has shown that the average revenue per attendee has increased significantly from its pre-pandemic levels.
However, things in the broader economy and consumers have become cloudier. This could force Disney, Universal, and SeaWorld to make strategic shifts to keep the turnstiles moving.
Over the past few months, according to The Motley Fool, the industry in Orlando has dealt with the following issues below:
Even with some of the troubling news, the industry is fighting back.
Recently, Disney World finally opened up its Annual Passholder program to the public to help drive attendance. In addition, many of the Parks have introduced new attractions, such as Magic Kingdom's TRON Lightcycle Run and SeaWorld Orlando's Pipeline: The Surf Coaster. Universal Orlando Resort also has big plans and is expected to release its new ‘Minions’-Inspired Attraction soon.
Hopefully, for the Orlando Theme Park industry, this will be enough for them to survive an economic downturn if we end up in one.
Would Disney, Universal, and SeaWorld still be highly attended if we entered a recession in the United States?
My name is Mark Friedman, and I am a passionate fan of Disney. As a native Floridian, visits to Walt Disney World were a frequent vacation for my family when I was growing up. When I am not writing articles for Inside The Magic, I spend most of my time with my wife and kids. During my day job, I typically track the stock market looking for currently underappreciated businesses. Outside of family and work, my other two full-time passions are Florida Atlantic University Athletics and spending time volunteering for my fraternity, Alpha Epsilon Pi.Would Disney, Universal, and SeaWorld still be highly attended if we entered a recession in the United States?