Overview

Theme parks have been around for years, providing leisurely entertainment for people worldwide. The first modern theme park, however, was Disneyland, which opened in California in July of 1955. Ever since then, other parks have opened—Six Flags, Cedar Point, Universal Studios—but Disney remains most known worldwide, attracting visitors from around the world. Since 1955, Disney has opened various other parks around the United States and the world. The Disney theme parks play a large role locally, nationally, and globally by spurring economic activity.

Here is a video from Disneyland's opening day in 1955:

Disney Stocks

The Walk Disney stock company is open to all investors and one can buy directly through Disney itself. Here is some information about the company:

The Walt Disney Company, works as an entertainment company worldwide. The company's Media Networks include broadcast television network, television production and distribution, television stations, broadcast radio networks, radio stations, and publishing and digital operations. It operates the ABC Television Network and 8 owned television stations, the ESPN Radio Network and Radio Disney Network, and 35 owned radio stations. This segment also produces, licenses, and distributes cable and animated television programming; and operates ABC-, ESPN-, ABC Family-, and SOAPnet-branded Internet businesses. The company's Parks and Resorts segment owns and operates the Walt Disney World Resort in Florida that includes theme parks; resort hotels; a retail, dining, and entertainment complex; a sports complex; conference centers; campgrounds; water parks; and other recreational facilities, as well as the Disneyland Resort in California. This segment also manages and markets the Disney Vacation Club, Disney Cruise Line, the Adventures by Disney, and mixed-use Disney Resort and Spa in Hawaii; manages Disneyland Paris and Hong Kong Disneyland Resort; and licenses the operations of the Tokyo Disneyland Resort in Japan. Its Studio Entertainment segment produces and acquires live-action and animated motion pictures, direct-to-video content, musical recordings, and live stage plays. The company’s Consumer Products segment licenses Disney characters, and visual and literary properties to manufacturers, retailers, show promoters, and publishers; operates The Disney Store and DisneyStore.com; publishes books and magazines; and operates English language learning centers. Its Disney Interactive Media Group segment creates and delivers Disney-branded entertainment and lifestyle content across interactive media platforms, including online, mobile, and video game consoles. The company was founded in 1923 and is based in Burbank, California ("DIS").

Click here to get Disney stock information.
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Worker's Strike

While Disney seems to exhibit quality treatment of customers and workers, some feel they do not receive proper care. In 2010, workers at Disney hotels, for example, declared a one-day strike. About 200 members waited outside their hotel and protested the contract strike approxamately 2,100 workers were stuck in. Another group protested pay raises in 2011. Disney world offered 3% raise for the next three years, but the workers rejected the offer. If workers at Disney do not get the pay the request and too many of them boycott, Disney could be in trouble when attempting to hire new workers.

For a news report on the protest, click here.

Worldwide Impact

Disney is truly a global company. Their brands and products are recognized worldwide and have cast memebers and employees in 42 countries and large resorts on three continents. As a global media company, they have online and print media platforms that are used for public service. Their characters have become ambassadors of key community initiatives, and our television and studio talent frequently help build awareness of social issues. The power of the Disney brands, the broad reach of our media outlets and the appeal of our talent put us in a unique position to promote worthy causes ("Walt Disney"). Disney's parks are located in places such as Paris and Tokyo, providing entertainment for those who cannot afford to visit the parks in the United States. While these are not as successful as Disney in the United States, the addition of these parks to the countries spurs the local economy, an added benefit.



Here is a report on the effects of EuroDisney on Paris.

Guests

Disney attracts 350 million visitors at its US parks alone that come locally, nationally, and from around the world to this legendary park. As stated before, Disney guests spend nearly $2 billion outside of the resort on hotels, meals at restaurants, retail purchases, and transportation (Ling). Typically, residents (1-2 hours away) tend to make up a large percentage of the visitors at the park, but many distant visitors vacation here as well. Disney has succeded in bringing these guests in for many reasons.
1) It is a unique, "must see" destination.
2) It is supported by media (TV) coverage and exposure.
3) It has a large mass of attractions. ("Future of Theme Parks")

Disney's theme draws visitors of all ages to the park and can be nostalgic for adults who grew up watching Disney shows such as "Mickey Mouse".

Sales in Florida

Disney not only provides jobs for the Orlando area, but also generates monetary gains as well. Disney accounts for 2.5% of Florida’s GDP—a huge percentage for just one company. Because Disney attracts millions of visitors a year who not only spend their money at the park, local businesses also benefit: about $2 billion is spent by visitors at these companies. Without Disney attracting visitors, these companies would not see nearly the revenue as they do (Ling).

For more information, click here.

Job Impact on Florida

Disney World, opened in October of 1971, has a large impact locally on the state of Florida. As the largest employer in the Orlando area, Disney provides160,000 jobs—just under half of the work force at Disney itself and the other at outside contractors. Six percent of all jobs in Florida attribute to Disney and salaries paid to workers top $1.8 billion. Many critics argue, however, that Disney pays such a low-wage employment and employs many of the local residents, so the standard of living has dropped in the Orlando area (Ling).

Click here for more information on Disney's impact on jobs and other impacts on Florida's economy as a whole.

Taxes

Even after the cost of government services used by Disney staff and guests, the company’s net benefit is still upwards of $400 million. Orange County’s net benefit alone is more than $100 million. Disney was involved in a risky lobbying battle with Florida's vacation rental industry. The Florida legislature was considering vacation-rental legislation that was supposed to remove many of the regulations and restrictions which prevented residential properties from being rented out for a period of less than six months. Disney won the battle and was amended so that current restrictions remain in place. Disney often releases it's tax information at peak times to add fear to competing companies (Ling).

Below is a chart of Disney's income tax benefits taken from here. Also click on the link for more information on Disney's taxes.

Disney vs. Six Flags

As known, Disney is not the only company with modern amusement parks in this world, let alone country. Many others compete with Disney for costumers, such as Six Flags. Six Flags has multiple locations in the United States and one in each Canada and Mexico. Obviously, these two economies differ and offer different benefits to customers. While Disney, for the most part, is thriving strong, Six Flags is suffering due to the increased competition with Disney and other amusement parks. In 2009 they nearly filed for bankruptcy when it had nearly $300 million of stocks due to holders that they did not have. They estimated if they filed for bankruptcy, attendance would drop 6%. The company escaped bankruptcy by buying stocks, but the economy of this company is still below that of Disney due to the popularity of Disney attractions (Arango).

More information about Six Flags' economy here.

Conclusion

Disney undoubtedly has a huge effect on local, national, and global economies. Not only does Disney consist of theme parks, but of merchandice, resorts, and movies as well.  From starting with only 20 attractions when it first opened to having parks opened worldwide. This company has produced profound effects, benefitting many economies worldwide and attracting millions of guests each year. While this company has ups and downs based on how the overall economy of the state or country is, it still seems to thrive.

For more information about Disney, click here.

Works Cited:
Arango, Tim. "Most Popular Slideshows." Disney Releases Economic Impact Report. 13 Mar. 2009.
            Web. 10 May 2012. <http://www.wesh.com/r/27531227/detail.html>.

"DIS: Summary for Walt Disney Company (The)." Yahoo! Finance. Yahoo, 2012. Web. 10 May 2012.
            <http://finance.yahoo.com/q?s=DIS>.

Ling, P. "Disney's Economic Impact on Florida." Travel Industry. 25 Apr. 2011. Web. 10 May 2012.
            <http://travel-industry.uptake.com/blog/2011/04/25/disney-economic-impact-florida/>.                  

"Most Popular Slideshows." Buzz, Woody Protest Disney World Wages. Orlando Hearst Television

Inc., 9 Feb. 2011. Web. 10 May 2012. <http://www.wesh.com/r/26808636/detail.html>.

"The Future of Theme Parks in International Tourism / Economics Research Associates / 1999." The
            Future of Theme Parks in International Tourism / Economics Research Associates / 1999.               Economics Research Associates, 1999. Web. 10 May 2012. <http://www.hotel-             online.com/Trends/ERA/ERARoleThemeParks.html>.

"The Walt Disney Company." The Walt Disney Company - 2008 Corporate Responsibility Report -
            Community. Disney, 2008. Web. 10 May 2012.
           <http://disney.go.com/crreport/community/responsibilityandimpact.html.>

Pictures: Google Images