What Happens to WDW / Disney Parks during a massive correction / recession?

[JIMINYCR]

Just was discussing with DW that once the recession (that isn’t inevitable ) hits we should see some deals and hopefully diminishing park numbers that happened in the past for making a return visit for us likely. Time to start putting some money aside for a trip.

 

[Djsfantasi]

We still shame people for recreation…which is pathetic

Our company went to an unlimited amount of vacation and sick days. You better believe the “unlimited” didn’t mean unlimited. Under the old policy, someone with the same amount of seniority as I had could take 5 weeks paid vacation. Under the new policy, after taking three weeks, I was called into the Director’s office and berated for being out of the office so much. My boss had cancer, almost died. When he came back, he took a week’s vacation for a planned trip with his family. Shortly thereafter, he was fired.

 

[Lilofan]

Our company went to an unlimited amount of vacation and sick days. You better believe the “unlimited” didn’t mean unlimited. Under the old policy, someone with the same amount of seniority as I had could take 5 weeks paid vacation. Under the new policy, after taking three weeks, I was called into the Director’s office and berated for being out of the office so much. My boss had cancer, almost died. When he came back, he took a week’s vacation for a planned trip with his family. Shortly thereafter, he was fired.

I’ve worked with a few peers. A few took extended vacation that they accrued. During their vacation, their bosses who needed to make cuts saw that the division could run without them , and pass on their responsibilities to existing staff. When they returned from vacation they were told to go to HR, got their severance package and were laid off.

 

[Djsfantasi]

I’ve worked with a few peers. A few took extended vacation that they accrued. During their vacation, their bosses who needed to make cuts saw that the division could run without them , and pass on their responsibilities to existing staff. When they returned from vacation they were told to go to HR, got their severance package and were laid off.

To clarify, I didn’t take extended vacations. It was three - one week vacations. I had built a summer home on a lake and would go up there. Plus, I often worked from there half of my vacation.

 

[Lilofan]

To clarify, I didn’t take extended vacations. It was three - one week vacations. I had built a summer home on a lake and would go up there. Plus, I often worked from there half of my vacation.

Good for you. In some firms a few staff are afraid to take a lot of time off and want to be productive all times. Some can be easily replaced or their position eliminated and their work divided with existing teams. Crazy times.

 

[graphite1326]

I know we're in uncharted territory, and things are not looking good economically now (with inflation, the markets, etc.) Employment is still holding strong, but a lot of households are feeling the pinch from gas price increases and inflation affecting groceries.

I was not alive, nor did I attend, the parks during previous big economic corrections (1970's oil embargo, early 90's recession, early 00's recession, the Great Recession of the late 00's). I feel like each of those moments posed incredible challenges to the parks (and the tourism industry in general). In some cases, it seems entire parks weren't built (Westcot) or were substantially affected (Animal Kingdom, DCA).

To those that have lived through those times, and studied them, what was the general way in which the parks managed to soldier on during those times?

[This is not meant to minimize the broader societal/economic effects, but rather to get a sense of how something that is considered a luxury manages to maintain itself when money suddenly becomes tight or nonexistent.]

I went during the mid 90's thru recent and the recessions didn't make a difference. By the way employment is not really holding strong. The amount of people working is nowhere near where it was pre-covid. It just looks that way because we started so low.

 

[graphite1326]

Promotions and discounts.

I traveled to WDW 2 weeks after 9/11, stayed at All-Star Music, half of the buildings were closed.

Hey me too. I think I stayed at All Star Sports.

 

[Lilofan]

Hey me too. I think I stayed at All Star Sports.

In Coronado , post 9/11, Cabanas and Ranchos closed. Whoever were staying were in Casitas buildings.

 

[graphite1326]

Demand for luxury good falls. Disney is a luxury good.

I think WDW demand is a good indicator of what is really going on in the economy. So long as the parks are packed, things are going well.

...and currently the parks are packed!

Kind of a similar indicator; I sell my artwork (definitely disposable income) . One of those people that goes to outdoor shows with a tent. My last two shows have been record highs. So I'm confused on if people are not going to travel since usually someone like me gets hit also.

 

[GuyFawkes]

Kind of a similar indicator; I sell my artwork (definitely disposable income) . One of those people that goes to outdoor shows with a tent. My last two shows have been record highs. So I'm confused on if people are not going to travel since usually someone like me gets hit also.

It will take a little while for people to rack up credit cards etc. Also the pandemic put people in a you only live once type of mood.

 

[Lilofan]

It will take a little while for people to rack up credit cards etc. Also the pandemic put people in a you only live once type of mood.

I've got family and friends who now work from home most of the year. The amount of money saved ( dry cleaning, business clothing buys, daily lunches, multiple Starbucks buys, commuting costs , wear and tear on the car etc ) have saved each hundreds of dollars a month so there is extra money to spend when the desire or need arises.

 

[eliza61nyc]

It will take a little while for people to rack up credit cards etc. Also the pandemic put people in a you only live once type of mood.

I don't think it's a "you only live once" mentality but more of "what's really important ". Like others have said so many people work for places that don't give a crap about you in reality (especially if you work for a big Corp like I did) and they are realizing that there is significant value in family vacations and family relaxation

One of the reasons so many folks are not returning to work in droves, many people thought it was because of the stimulus money, well that's pretty much ended and folks are still not returning.

Lol of course I've know young parents who spent 2 years being their kids teachers and are ready to sell a kidney for a vacation
And as @Lilo and @Sirwalterraleigh mentioned as a society we've got a screwed up value system around vacation, I think the pandemic has started people waking up and saying "screw that"

 

[Lilofan]

I don't think it's a "you only live once" mentality but more of "what's really important ". Like others have said so many people work for places that don't give a crap about you in reality (especially if you work for a big Corp like I did) and they are realizing that there is significant value in family vacations and family relaxation

One of the reasons so many folks are not returning to work in droves, many people thought it was because of the stimulus money, well that's pretty much ended and folks are still not returning.

Lol of course I've know young parents who spent 2 years being their kids teachers and are ready to sell a kidney for a vacation
And as @Lilo and @Sirwalterraleigh mentioned as a society we've got a screwed up value system around vacation, I think the pandemic has started people waking up and saying "screw that"

The pandemic put some in my area to believe they’ve survived among conditions, restrictions set upon them. A number have said they have saved more money than years before ( one reason is working from home ) because of limited options to spend it. Now some are letting loose, traveling to Europe , Far East , staying at first class hotels, food, excursions and just living life to their fullest.

 

[larryz]

I can also tell you that Covid has been our largest WC loss in history, cost-wise and lives.

Even tho' I know you're talking about Worker's Comp, when I see WC like that, all I can see is "bathroom."

 

[DfromATX]

Even tho' I know you're talking about Worker's Comp, when I see WC like that, all I can see is "bathroom."

Ha ha, I get it... I learned about water closets when I went to Germany several years ago. I even bought my my mom these cute little "antique" WC signs for her bathroom and she still has them to this day.