Recent months have been unprecedented in the tourism sector. Travel restrictions, flight suspensions, falling consumer confidence and a slew of negative press are just some of the issues operators in the travel space are having to contend with. As operator of some of the world’s most famous resorts and entertainment parks, The Walt Disney Company has been greatly impacted.
- In FY2019, 38% of total revenue was attributed to Parks, Experiences and Products, equating to $26.22 billion. This shows the significance of this operation to Disney.
- Disney Parks across the world welcomed 157 million visitors in 2018, with peak attendance coinciding with the summer months and school holidays. The parks contribute largely to local economies, providing many jobs and economic income.
- The largest of the parks, Walt Disney World in Florida, US, is set to gradually reopen from July 11th 2020. With competing Universal Orlando opening on 5th June 2020, this is a necessary step to restart travel and incoming revenue. Meanwhile, Hong Kong Disneyland is set to reopen shortly, as is Disneyland California, in an attempt to kick-start a tourism boom in the country. Disneyland Paris is still to announce dates for reopening, and will do so when all safety measures are in place and is adhering to government restrictions, which are still in place in many countries.
- This case study looks at how the COVID-19 pandemic is impacting The Walt Disney Company and assesses the company’s response.
Reasons To Buy
- Gain an overview of the current global COVID-19 situation
- Understand the impact that COVID-19 is having on the airline industry
- Assess the impact on Disney
- Understand what the future may hold for the company