The Walt Disney Co. released this month a study showing its economic impact on the state of Florida.
The study done by Oxford Economics revealed that Walt Disney World Resort generated $40 billion in economic impact across Florida in fiscal year 2022.
The Burbank entertainment and media giant also created 263,000 direct and indirect jobs or one out of every 32 jobs in the state as well as $6.6 billion in tax revenue, including $3.1 billion in annual state and local tax revenue generated by Disney, visitors, employees and third-party businesses, according to the study released on Nov. 14.
The report was commissioned by Disney and also reflects the economic impact of Disney Signature Experiences in Florida, including Disney Vacation Club and Disney Cruise Line.
Adam Sacks, president of Tourism Economics, a division of Oxford Economics, in Oxford, England, called Disney “an economic catalyst to the state of Florida generating billions in economic activity, either directly, or indirectly through its supply chain and the spending of employees.”
Jeff Vahle, president of Walt Disney World Resort, said that he was proud of how Disney has created meaningful change and benefitted people’s lives in Florida for generations, not just in establishing the area’s theme park industry, but also in how the company has worked with other sectors across the state to do the same.
“The numbers speak for themselves on why Disney is so important to fueling jobs, the economy and tourism throughout our region, and the future investments we’re looking to make will continue to provide even more opportunities for Floridians,” Vahle said in a statement.
Disney recently announced it is developing plans to accelerate and expand investment in its Experiences segment to nearly double capital expenditures over the course of approximately 10 years to roughly $60 billion, including by investing in expanding and enhancing domestic and international parks and cruise line capacity, according to the company.
Since its launch in 1998, Disney Cruise Line has called Florida home. It has a current fleet of five ships and three more planned, making it in the midst of the largest expansion in the cruise line’s history.
