Economic woes not hurting Disney

Filed under: Work Life, Places To Go, In The News, That's Entertainment

It is common knowledge that the U.S. economy is in the toilet, right? Gas prices are sky-high, groceries are through the roof and we are all losing our homes because we can't pay our mortgage. To stretch our dollars, we are growing our own food and selling our unwanted gold. How, then, do you explain the fact that Disney Resorts are raking in more money than ever?

In the past, Disney theme park business has been an accurate indicator of the health of the economy in general. During previous recessions, business went down. But for their fiscal second quarter of 2008, Disney reported operating income in the parks and resorts division rose 33 percent on revenue of $2.7 billion. This is despite the fact that gas and airfare has increased significantly.

What does this mean? Are the reports of a looming recession greatly exaggerated? Are we not as poor and scared as we think we are? Are you planning to visit a Disney theme park this year?
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