Kaltbaum Capital Management’s Gary Kaltbaum and Geltrud and firm founder Dan Geltrud discuss rising Disney World ticket prices and consumer spending habits amid inflation.
Some families are willing to go into debt to visit Walt Disney World in Orlando, Florida, according to a recent study.
A study by financial website LendingTree found that 18% of 1,500 consumers surveyed reported incurring debt while visiting Walt Disney World, which is celebrating its 50th anniversary in 2022. The study found that parents with children under the age of 18 were most likely to bear this additional cost.
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The survey also found that the park’s expensive dining options and ticket prices were higher than many people originally expected or budgeted for. From November 2022 through October 2023, the average price for a one-day, one-park ticket for adults and children 10 and older will be $141.74, although the price may increase.
According to an analysis by Mouse Hacking, a Disney-based blog, the cost of a Disney World vacation for a family of four consisting of two adults, one child ages 10 and older, and one child ages 3 to 9 was 5731 dollars. 2022, or approximately $287 per person per night.
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Crowds gather and fill Main Street, USA on June 1, 2022 at Magic Kingdom Park at Walt Disney World in Orange County, Florida. (Joseph Prezioso/Anadolu Agency via Getty Images/Getty Images)
The cost includes flights, transportation to and from the park, five nights at a Disney World resort, five-day skip-the-line passes, and all meals at the approximate cost of a standard Disney dining plan.
“A Disney trip can be an experience you and your family remember for the rest of your life, and these are the types of deals that people are willing to go into debt for,” said Matt Schultz, chief credit analyst at LendingTree.
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According to a LendingTree study, 71% of gardeners who overspend have no regrets because they will be able to pay off their debt in six months or less. Fourteen percent said it will take seven months or longer to pay off their Disney debt, while another 6 percent don’t know how long they’ll have the debt.
The Monorail at Walt Disney World is shown in this file photo. (iStock)
However, a separate survey by gambling website Time2play surveyed 1,927 Disney World fans, and 68.3% of them said the price hikes made them feel the theme park had “lost its magic.” A whopping 92.6% said they believed the high cost of the park had made the holiday “unaffordable” for the average family.
In 1971, a ticket to Disney World’s Magic Kingdom cost a total of $3.50, according to the study. Adjusted for inflation, that would mean tickets would cost about $25.60 today. Disney World single park tickets now range from $109 to $159 per day. according to the study.
Guests react to a splash of cold water on Splash Mountain at Magic Kingdom Park at Walt Disney World on June 1, 2022 in Orange County, Florida. (Joseph Prezioso/Anadolu Agency via Getty Images/Getty Images)
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“You shouldn’t take on crippling debt, and you shouldn’t do it too often,” Schultz said. “But if you need to borrow a few months to afford that once-in-a-lifetime Disney trip, that might be fine.”
Fox News’ Emma Colton contributed to this report.
