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Disney says it has $40 billion economic impact in Florida in new study

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Disney also generated 263,000 jobs in Florida in the 2022 fiscal year

Walt Disney World generated $40.3 billion in economic impact across Florida in its 2022 fiscal year, according to a new study by UK-based Oxford Economics.

Additionally, the report said Disney World generated 263,000 direct and indirect jobs in the state in the 2022 fiscal year, including Disney’s workforce of 82,000 cast members.

The study, which was commissioned by Disney, revealed that without the company’s impact, Florida’s unemployment rate would rise from 3 percent to 5.4 percent. The company also generates $6.6 billion in tax revenue.

“I am incredibly proud of how Disney has created meaningful change and benefitted people’s lives in Florida for generations, not just in establishing our area’s theme park industry, but also in how we have worked with other sectors across the state to do the same,” said Jeff Vahle, president of Walt Disney World.

“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.”

Oxford Economics noted that Disney supports one in every eight jobs in Central Florida, and one in every 32 jobs across all of Florida.

Also, 2,500 Florida-based small businesses are contracted to supply products and services to Disney’s Florida resort. These are part of more than 8,500 small businesses across the US contracted by Disney.

“Disney is 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,” said Adam Sacks, president of Tourism Economics, a division of Oxford Economics.

“Disney is also vital to the funding of public services, as it generated taxes of $6.6 billion in 2022, including state and local taxes of $3.1 billion.”

“Disney is an economic catalyst”

Buddy Dyer, Orlando’s mayor, added: “Disney’s impact goes far beyond the gates of its theme parks and positively touches our lives in nearly every corner of our community.

“Disney not only pioneered Orlando’s theme park industry with its own investments over the last five decades, they also paved the way for others to invest in our city and help make it the tourism destination it is today. It’s been an honor working alongside Disney as they help continue to move Florida forward.”

The results of the Oxford Economics study are for Disney’s 2022 fiscal year, before the Reedy Creek Improvement District became the Central Florida Tourism Oversight District with the appointment of a new board.

It was released as Disney battles Florida Governor Ron DeSantis and the new board over their takeover of Disney’s special governing district.

Disney announced in September that it is developing plans to invest $60 billion in its parks, experiences and products division over the next 10 years to turbocharge growth.

Images courtesy of Disney

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Bea Mitchell

Bea is a journalist specialising in entertainment, attractions and tech with 10 years' experience. She has written and edited for publications including CNET, BuzzFeed, Digital Spy, Evening Standard and BBC. Bea graduated from King's College London and has an MA in journalism.

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