I live in Orlando and can report the attendance at the theme parks has been atrocious the past few months. I know there is usually a lag between Spring break and Memorial day, but I haven't seen the parks consistently this dead since pre-Harry Potter (not counting 2020). And it's not just Disney, its Universal, Sea World, and Busch Gardens as well. And the parks are forecasting a bad summer you can tell with the deals that are coming out now like the Disney 4 park deal that is way discounted from the normal rate.
I think this is an indicator that the economy is finally starting to slow down and headed for a recession later this year and 2024. While I certainly don't think everything is going to fall apart like in 2008, there has been talk for years now that once the covid money dries up, interest rates go up, and inflation settles there will be a period of stagflation and then finally a recession. It will be interesting to see what happens when Disney, Universal, and Sea World report at their next earnings calls.Tweet
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