Disneyland Resort is officially reopening TODAY, after a 13-month closure.
The parks originally shuttered in March 2020, and while Disney World reopened that July, the California parks stayed closed. Closures like these — as well as the pandemic itself — have taken a massive toll on the tourism industry. And while things are slowly reopening, it appears that Disneyland will report an overall loss in revenue.
According to The Orange County Register, Disneyland Resort has lost an estimated $4.3 billion in revenue throughout that 13-month closure. This number is an educated estimate by Michael Nathanson, founding partner of the independent research company MoffettNathanson.
To compare, Disneyland generated around $3.8 billion in revenue in 2019 — again, according to Nathanson’s estimates.
Nathanson estimated in October 2020 that Disneyland had already lost around $2.2 billion over a 216-day closure. The current number, of $4.3 billion, reflects an updated approximation of exactly what the closure has cost the company.
The closure has had a massive impact on California’s economy, too, which relies on Disneyland and other large theme parks for jobs. Cal State Fullerton’s Woods Center for Economic Analysis and Forecasting found that Disneyland contributes, on average, $8.5 billion annually to the California economy. This means the parks’ 412-day closures could have lost the state almost $10 billion.
Nathanson worries that a “post-coronavirus recession” could prevent Disneyland from bouncing back right away. He explains that “people don’t instantly, when the economy goes back to growing, go to the parks.” We’ll be keeping a close eye on the situation to see exactly how Disneyland’s reopening goes — and what greater impact it has. Stay tuned to DFB.
Are you planning a trip to Disneyland? Let us know in the comments!