Recent remarks by Disney CEO Bob Iger saying the company plans to invest $17 billion at Walt Disney World over the next 10 years sounds like could have big business implications for Central Florida. Iger has stated that the investments will create 13,000 Disney jobs and thousands more indirect jobs.
It’s a lot of money. But will it make a big difference in what we see at Disney World?
While $17 billion may be a lot for most businesses to fathom, in the world of theme parks, it can be visualized pretty quickly. One example would be Disney’s Star Wars: Galaxy’s Edge lands at Walt Disney World and Disneyland in California, which were estimated to cost $1 billion.
It’s Not An Unusually Large Investment
According to financial analysts, if broken down over ten years, spending $1.7 billion annually on theme parks would not be out of the ordinary. Disney has historically spent upwards of $2 billion to nearly $3 billion on domestic theme parks annually.
Part of the business of Disney is in getting people to return, and you have to have something new for people to see in the parks.
Looking back over the past ten years and considering the recent additions of Pandora, Star Wars, Toy Story Land, Tron plus a couple of resorts, $1.7 annual investments are not that far off from what Disney has been already doing.
What Will $17B Buy?
Experts believe that the investment will likely go toward new rides, hotels, and potential “blue sky” concepts – very early conceptual projects that may or may not happen. Those projects may include:
- Disney’s Animal Kingdom’s Dinoland U.S.A. getting revamped to house new attractions and experiences inspired by Disney films “Moana” and “Zootopia.”
- Magic Kingdom possibly getting a trio of additions built behind Big Thunder Mountain Railroad, including areas themed after the films “Coco” and “Encanto,” as well as a land inspired by Disney’s famous villains.
Walt Disney World alone is the top generator of visitors to Orlando. More than 50 million people go through the turnstiles in previous years – many of those repeat visitors.
Glad that Disney has a long-range plan for investing in the future of the theme parks?