Theme Park Attendance Boosts Economic Hope
Forget about jobs and housing as potential indicators of economic recovery; think theme park attendance. While it is true that claims for jobless benefits are dropping, and manufacturing data is also a cause for optimism, record turnouts for theme park attendance seems to be solid proof. Frugal consumers that helped coined the word “staycation” in the last couple of years, are finally getting out and willing to spend big on their vacations and that trumps all indicators for an improving economy.
Holiday Ticket Sales Soar
Disney World, Legoland, and the Wizarding World of Harry Potter were packed last holiday week in December. Visitors to the park were shut out when the main entrances were closed for up to 90 minutes to reduce overcrowding at three of the Disney parks located in Florida. However, even places like Legoland and the Wizarding World of Harry Potter had record attendance that stressed those parks ticket sales. With ticket prices that range from $75 to $85 per person per day, the fact that so many people were willing to stand in line for their chance to get it speaks volume about consumer confidence. That can mean really good news for an economy that relies on consumer confidence to get it roaring.
Theme Parks Boost Local Economy
Florida is the home of many of the major theme parks and when sales are good the local economy benefits. Orlando has seen 53.5 million visitors in 2011. That’s two million more than in 2010. The visitors come to visit the parks, but spend money on lodging and food. Tourism dollars create a boost to the local economy, even though hotel vacancy rates aren’t up to what they were prior to 2008 yet. The good news is that the regional tourism promotion board estimates that hotel occupancy rates are at 95 percent, which is still a whole lot better than last year. If the trend continues in Florida, it is a very good sign that consumers have more disposable income and are willing to spend it to boost the economy in 2012.
Economy January 09, 2012

