The Walt Disney Company plans to spend about $60 billion on its Disney Parks, Experiences and Products division in the next 10 years.<\/p>\n
That nearly doubles what the company has spent on Disney Parks in the past 10 years, Disney said in a Securities and Exchange Commission filing on Tuesday.<\/p>\n
The $60 billion will be for “investing in, expanding and enhancing domestic and international parks and cruise line capacity.” Earlier this month, Disney announced that a large expansion of the Magic Kingdom is in the works.\u00a0\u00a0<\/p>\n
Disney said its “financial condition is strong,” enabling investment in expansion and development.<\/p>\n
In slides included in the SEC filing, Disney said strong growth in Disney Parks’ revenue, which rose from $23.5 billion in fiscal year 2017 to $32.3 billion in the last 12 months of data as of the third quarter of fiscal year 2023. Operating income over the same time period rose from $6 billion to $9.2 billion.<\/p>\n
From fiscal year 2019 to fiscal year 2022, Disney said, per capita guest spending at domestic parks grew 42%.<\/p>\n
Disney said it has 1,000-plus acres of land around the world for potential development.<\/p>\n