Many Americans are toning down their discretionary spending and turning up their “revenge saving”, which may cause problems for Disney World.
The site of an empty Magic Kingdom may become a bit more common.
The concept of “revenge saving” is the idea of putting more money aside for savings than they were previously. According to CNBC, the “The U.S. personal saving rate — the percentage of disposable income that U.S. households save, after they pay taxes and spend money — has risen sharply this year, reaching 4.5% in May, according to Bureau of Economic Analysis data released Friday. That is slightly down from 4.9% in April, but up significantly from 3.5% in December.”
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