amusement park industry in a major way

amusement park industry in a major way. There was a decrease in time and money spent on
leisure activities as well as travel. However, by 2010 consumer spending and income levels had
begun to increase again. The expansion of jobs has led to an increase in disposable income.
While time spent on leisure activities is forecasted to decrease in the near future from 5.28 hours
per day in 2014 to 5.26 hours per day in 2019 (IBIS, 2015), the amusement park industry is not
likely to feel this effect, with a predicted revenue increase rate of 1.8% annually to $16.8 by
2019 (IBIS, 2015). Additionally, industry employment is said to have risen 2.3% annually in the
five years leading up to 2014 (IBIS, 2015).
As a result of the industry’s growth, many big names in theme parks such as the Walt
Disney Company have invested large sums to improve their amusement parks. Disney invested
$2.4 billion in its domestic theme parks between 2009 and 2013, while Universal Parks and
Resorts likewise spent $1.2 billion to improve its domestic offerings (IBIS, 2015). Improvements
and expansions in Disney can be expected for the next several few years according to Chairman
Thomas O. Staggs (Ting, 2012). In 2012, Disney revamped its California Adventure amusement
park, and added a 12 acre themed “Cars Land” (Ting, 2012). In May 2014, another reaction to
the improving industry health was the rise in ticket prices at Disney World’s Magic Kingdom
and Disneyland’s California Adventure. One day ticket prices rose to $96 for patrons 10 years or