Disney World fans are furious. The announcement of higher park ticket prices has once again sparked a backlash of complaints, with many folks saying things like, “Soon, nobody will be able to afford to go to Disney World.” But they are wrong.
Disney’s goal is to bring magic and imagination to families, yet they are not immune to the rules of economics. A company that does not obey those rules can not survive. It is a lack of understanding regarding the realities of economics that causes such a public outrage.
Supply and demand. Disney World parks have been packed year round. I remember a time when you could go in January and the parks would be nearly empty. Such is no longer the case. The increase in demand has been palpable. On many days they have to turn people away.
Frankly, Disney has probably kept their prices as low as they can considering the huge demand. They are also trying to increase supply with park expansions, but that takes time and careful planning to do it right.
What about the CEO making millions? Well, that’s another reality of the free market–people are compensated for the value they provide. If not, they are bound to go elsewhere. Most folks are not willing to admit this, but there are very few people in the world who can successfully run a 150 billion dollar company. Just like professional athletes, such a rare talent demands a high price.
Disney is not a charity. They provide a premium experience that is renowned around the world. Such quality is going to cost money. It’s up to us to decide if the experience is worth it.
I give up a lot of things throughout the year to save money for a magical experience at Disney World–things many people are not willing to go without. It’s called delayed gratification, and it’s a rare skill.
I think it’s worth it, though. And I certainly don’t blame Disney for it.