There is a place you can visit, any time of the year, that is sure to make you feel like a kid again. With the variety of rides, food, different attractions, and characters; it is sure to make you forget about the outside world. It is known as the most magical place on earth, and what is this place? Disney World.
To visit Disney World for one day, for anyone older than 10, it costs $105.00. For anyone under the age of 9 it costs $99.00 for a one day pass. On top of that you need to consider sales tax. On average for a family of 4 it would cost approximately $500.00 for a single day in the park. After buying tickets you need to budget in transportation, lodging, food, and shopping as well (because we all know you’re going to want a souvenir). Although some may argue that this is quite a lot of money for a single day, there is opportunity cost. While you will be paying a large amount of money they have available 3 free fast passes, which you can find online, which will put you in the front of the line for 3 rides saving you a lot more time to see and do other things. Another opportunity cost, is that; again while you are paying a lot of money, there memories can last a lifetime, and it is a completely different experience from other amusement parks.
When Walt Disney originally opened the park, in 1971, a ticket to get in cost $3.50 for an adult. In 2015, due to inflation, the cost of a ticket rose to $20.48. Inflation of Disney tickets has risen frequently and fast. Although the price of a one-day pass is quite steep, people are willing to pay the high amount for what they will be receiving. Other than single day passes, the park does offer deals. A deal such as a 5-day pass is available which totals to $315, averaging about $63.00 a day. Again this does have faults; 5-days at disney can be tiring. It all comes down to opportunity cost.
Disney world brings in a lot of revenue each year. Between all the parks, rides, food, and other opportunities they bring in large amounts of money. Magic Kingdom, pictured below, is the most popular park at Disney World. In 2014 this park alone had 19 million visitors, bringing in $5 million dollars in admission, that’s not even including food and extra spending! From 2014-2015 the Walt Disney co. reported 10% growth in revenue over that year. Walt Disney World contributes approximately 2.5% of Florida’s GDP annually.
In 2009, it was reported that 1 in every 50 Florida residents have a job that contributes to Disney. The park even offers a program to college students allowing them to work there and receive a steady salary as well as receive a college credit for working at the park. Disney creates a lot of jobs for Florida’s economy as well as provides a lot of employee opportunities.
Disney has become a key contributor to Florida’s economy. With the amount of money the parks bring in and the jobs it creates Disney is a success. The key to this success has been the creativity and the magic you feel as you walk through the gates, as well as the multiple attractions.
"Disney says it generates $18.2 billion annual ripple effect in Florida." Tribunedigital-orlandosentinel. N.p., 13 Apr. 2011. Web. 26 Apr. 2017.
Josephson, Amelia. "The Economics of Disney World." SmartAsset. N.p., 19 Feb. 2016. Web. 26 Apr. 2017.
"Holidays at Walt Disney World Resort." Walt Disney World. N.p., n.d. Web. 26 Apr. 2017.