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As the cost of living increases, parents are putting themselves into debt in order to facilitate a trip to a Disney park for their children
Tom Anstey | Planet Attractions | 24 Jun 2024
Visitors to Disney parks in the US are putting themselves into debt in order to finance their trips
Nearly half of American families with children under 18 taking a trip to a Disney park in the US are putting themselves nearly US$2,000 in debt.
According to a study by financial website LendingTree, 24% of all people who visit a Disney park in the US accumulate debt as a result of a trip, with that figure rising to 45% among parents who bring children.
That figure for parents has significantly increased from the 2022 Disney debt survey, which found that 30% of parents with children under 18 were going into debt from a visit. For visitors to a Disney park, the average amount of debt totalled US$1,983 (€1,852, £1,566).
The survey featured more than 2,000 US customers who had visited the Disney World resort and its parks in Florida, as well as those who visited Disneyland in California.
One of the biggest costs came from spending on in-park F&B, with the cost significantly higher than consumers expected to spend. An average meal at a Disney park can cost anywhere between US$19 and US$93. Parking adds on an additional US$36 a day not including tax.
Tickets at their lowest cost US$99 but a seven-night trip for two adults can cost upward of US$4,000. 41% of Disney park goers were able to use a discount on their most recent trip.
“For so many parents, taking their kids to Disney is a rite of passage, something they remember fondly from their youth and want to experience with their kids,” said LendingTree chief credit analyst Matt Schulz. “Because of those feelings, they're often willing to take on debt to get there.”
Disney prices have been a topic of discussion in recent times, with company CEO, Bob Iger, reportedly also unnerved by price hikes at Disney's parks. Disneyland most recently raised its prices in 2023, with Disney World also expected to increase ticket prices again in 2025.
Of the debt accumulated, a majority (75%) said it took less than six months to repay the money. According to LendingTree, tighter budgets and rampant inflation mean these parents are more likely to take on debt than before.
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