Andrew Mielke
Mr. Reuter
Economics
April 3, 2016
Amusement Parks
As a child everyone dreamed of going to Disney World, and if you were lucky that dream came true and you were able to experience the magic that Walt Disney had imagined. However, as children we never thought of the economic benefits that Disney World and other amusement parks and attraction across the world bring. The IAAPA (International Association of Amusement Parks and Attractions) did a study to specifically describe the benefits that come with amusement parks and attraction big and small.
The IAAPA researched 400 amusement parks and attractions in the United States in 2011 there were 375 million guest annually through all of the amusement parks and attractions in the nation. The IAAPA then estimated that those 400 places produced an economic impact of $219 billion in 2011, of that $219 billion, theme parks, amusement parks and water parks then directly generated $55 billion in 2011. These numbers stem from the ticket prices, memorabilia and the many food chains that reside in amusement parks and attractions. The amount of money and that can be produced by simple attractions and amusement parks is very interesting considering that 90% of all the amusement parks operate year round. Also you would have to consider the fact that billions of dollars is also put into the upkeep and improvements that are needed to keep the parks functional.
Not only do the amusement parks and attractions produce a large amount of income, but they also are able to create millions of jobs. The amusement park industry is a leader in the creation of non-exportable jobs in the U.S.. The industry directly creates 1.3 million jobs and indirectly creates 1 million job, such as steel manufacturing, creating a total of 2.3 million jobs alone in the U.S.. Even more interesting is that of 204 people surveyed, 28% of those people said that they would want to work at an amusement park.
Another fact to ponder is that that many of the guest that go to these amusement parks go often, at almost a yearly rate.In a similar surveyed conducted like the one above 204 people were surveyed and 25% of the people said they have been to an amusement park in the last 12 months and 43% of people said they were planning on visiting an amusement park in the next 12 months, such a constant and reliable infrastructure of the amusement park industry. Many of these people that come as guest are families with children of 2-18 years of age.
The amusement park industry is one of the best and biggest in the world, not only do they have millions of people visit each year but they produce an extreme amount of money for such an enjoyable and ageless experience for all ages. Also, the amount of jobs that the industry produces is just another bright star that the industry is able to bring to the economy. As the U.S. population increases the more and more popular and successful the amusement park industry is able to become.
Works Cited
"Amusement Parks and Attractions Industry Statistics." IAAPA. International Association of Amusement Parks and Attractions, 2012. Web. 3 Apr. 2016.
I found this article very interesting. I found it shocking the amount of people who actually want to work at an amusement park. I knew places like Disney World created a lot of revenue, but I was surprised about just how much they made each year. When thinking about the revenue they earned, I really wasn't thinking about returning guests, I was thinking more along the lines of how many new people they got through the gates each year. The amount of jobs created by amusement parks is way higher than I expected, especially being a leader in non-exportable jobs is interesting. Overall this was an intriguing piece.
ReplyDeleteI do enjoy going to amusement parks. But I didn't know that they mad that much money. I figured they would make some money but not as much as 55 billion dollars. And its also a crazy how big they are and how the money helps out everyone. I do agree that they will also continue to gown and get bigger and better due to the demand of them. But other than that good blog post
ReplyDeleteI agree that the amusement parks make a lot of money year round but I never knew it was that much. Also with all the jobs that are created directly and indirectly it seems like amusement parks are a very important part of the economy. The best part about the job creation, as you noted, is the fact that those jobs can not be exported since the amusement parks are going to stay where they are. Amusement parks will never get old either because there is a constant stream of people that want to go to them.
ReplyDeleteNice job Andrew Mielke, I did not realize the significance of amusement parks in the American economy. I thought the coolest fact was the amount of jobs amusement parks directly and indirectly create. The amount of money that goes through Disney world and other big amusement parks is amazing and can be seen to really help employment and our economy as a whole. Steel consumption by amusement parks was also interesting an probably the most beneficial thing the parks go do for the economy.
ReplyDeleteWhen you are kid one never realizes how important amusement parks can be to the economy. The prices are sky rocketed but people still will buy the food and souvenirs and drinks. Weather if it is cold outside and they want something warm to keep them warm. Or if it is hot outside and they need something refreshing. And walking around all day burns calories which means at some point the food will start smelling amazing to one's nose. I honestly do believe that if the food prices were not as high as they are they would have a harder time maintaining staying open because of how much money it is to pay people who work there and keep up maintaining the roller coasters and other rides and pools, water-slides if they have them.
ReplyDeleteYou'd think places like Disney World wouldn't have such an economic benefit but surprisingly it is creating up to a million jobs and earning around $50 billion in revenue per year. That income for an amusement park is insane and extremely beneficial to everyone around it. This was a well written piece and made me think about why we don't invest long term and build more around the Country if the revenue is that significant.
ReplyDeleteGood work Andrew, I did not realize the significance of amusement parks in the American economy. I was unaware of how many jobs amusement parks create directly and indirectly. It is cool to see that something enjoyed by millions of people is having such a positive impact on the economy. It was cool seeing how raw materials such as steel, which is a big part in any ride, have such a large impact on the US economy. Overall this was a well written piece and shedded new light upon amusement parks.
ReplyDeleteThis was an interesting article, Andrew. I've never thought about the impact that amusement parks have had on the United States' economy and on jobs. The amusement industry is a large portion of the Wisconsin Dells' economy which draws millions of tourists each year to the great state of Wisconsin. Without it, Wisconsin would surely not have the same atmosphere as it does now. Personally, I would want for Pewaukee to bring the fair back. It would give the community great fun, while sparking the local economy.
ReplyDeleteYou rose an interesting point in your blog post. When I think of workplaces that are able to produce a large quantity of jobs as well as a large income, an amusement park is not the first place that comes to mind, but you are completely right that it offers huge benefits to our economy. The inflation of their prices should be a dead giveaway -- if you go to Six Flags for the day, you should expect to not only be paying for your ticket, but dropping $4 on a bottle of water, or $7 on a cheeseburger. Amusement parks all over the world produce so many different types of jobs for so many different types of people, and their entertainment factor is what will continue to bring in copious amounts of money for years to come.
ReplyDeleteYou rose an interesting point in your blog post. When I think of workplaces that are able to produce a large quantity of jobs as well as a large income, an amusement park is not the first place that comes to mind, but you are completely right that it offers huge benefits to our economy. The inflation of their prices should be a dead giveaway -- if you go to Six Flags for the day, you should expect to not only be paying for your ticket, but dropping $4 on a bottle of water, or $7 on a cheeseburger. Amusement parks all over the world produce so many different types of jobs for so many different types of people, and their entertainment factor is what will continue to bring in copious amounts of money for years to come.
ReplyDeleteIt's crazy to see how much amusement parks factor into our economy. I did not now that it was such a huge industry with hundreds of billions of dollars in profits. It's good to know just how beneficial they are, because millions of American jobs reside within this industry. Everything inside these theme parks are in such high demand that they are able to charge outlandish prices for souvenirs and even food and have people still buy them. I think that the expansions of existing parks, alongside development of new parks in America will creating lasting economic growth for however long that people want to ride roller coasters.
ReplyDeleteI was really amazed to see that amusement parks generate so much revenue. I find it interesting to know that they are the biggest creator of non exporting jobs. I never would've guessed this, even with their large presence in the US. I also found it interesting why so many people didn't want to work there. If there was one thing I'd like to know, it'd be why they don't and how much amusement park workers get paid annually. I think this might have a great effect on the results. Overall great post!
ReplyDeleteWhat a great topic to discuss, amusement parks. It seems that just about every kid has been to or dreams of going to a theme park of some sort where they can ride a roller coaster or go down a giant water slide. Because so many people love these places, it does indeed have quite an impact on the economy. As said in the blog post 375 million people annually visit theme parks throughout the country each year, that’s a lot of people. With all these people coming in it does wonders for the economy by creating insane amounts of revenue and income, while at the same time creates millions of jobs for people in the US. The only downfall about these parks is that it takes a good amount of money to keep them running proficiently and clean. Other than that the idea of amusement parks being a big part of the economy is definitely true.
ReplyDeleteThat's crazy! $219 billion dollars! I never really thought of a day at the amusement park as a good or service that was so I never really saw the revenue it could gain and other events like fairs in the summer time must have a great economic impact as well especially since fair food and food at amusement parks like Great America is crazy expensive. How the revenue being split up is what I'd like to know.
ReplyDeleteThis is a very interesting topic, when families travel to amusement parks on of the best reminders they bring home is the t shirts, water bottles, and keychains. However in the last couple of years the prices for these products have increased, so I know that my family is less willing to spend the money on the memorabilia. However understanding how that money impacts the economy makes me a little less resistant to spend the money.
ReplyDeleteI never would have expected to see that amusement parks bring in so much revenue. To produce about 55 billion dollars in one year alone is nothing short of amazing. I never really thought about the number of jobs that these amusement parks offer as I was never there to work, but to just have fun. It is great seeing that so many people are there to just have fun, and it's booming in our economy. Good post!
ReplyDeleteWow those are great statistics. I agree that amusement parks are a great thing and they do open up many job opportunities and bring in a large income. I thought the number that would say they would come back within 12 months would be higher than 50% though, since a lot of places sell season passes that are just a little more than one ticket is usually worth. This is also great for businesses around the amusement park area because they have the opportunity now to get a lot of customers from the big attraction right next to them. Amusement parks are great and for everyone.
ReplyDeleteI would have never thought that a day at the amusement park/attractions made that much money! I will always think about this when I got to a fair, or Great America. I think these parks and attractions are great impact on the economy as they bring in tourist or more people and lots of money! You said they bring in about 375 million people, that is insane! And another great thing is all the jobs these places will create over that period of time. To think that these numbers just will keep increasing as the years go on, I would think is great for our economy. Great Post!
ReplyDeleteIt's amazing how much these attractions bring in. Once everything has been built you can make a ton of money off of absolutely everything. The tickets to get in are usually a large amount of money when all the park has to do is keep the rides operating and hire some people to be in charge. Also, when it comes to food there is nowhere else for the people to eat so you can charge basically whatever and the people will pay. Most people while on vacation spend money like it's nothing. For some it is a problem because they aren't being aware of how much they are actually spending but others actually budget for it. Amusement parks can charge a lot of money and have a higher turnover ratio than most other places.
ReplyDeleteIt is amazing how amusement parks can factor so much revenue into our economy. As well as the amount of jobs it creates, 2.3 million in the United States. Having these parks allow for job creation through the various jobs available at the parks and they also provide support for economy with drawing in millions upon millions of people. Not only is the high amount of people good for the amusement park's revenue and sales but the surrounding area around the park like hotels and shopping centers could benefit from the high volume of people in the area.
ReplyDeleteI found it very interesting that amusement parks make so much income exceptionally from repeated consumers. I always found it fun to go to amusement parks as a child and would always want all the snacks and go on all the rides; however, the price for just a bottle of water is very expensive and is probably a large portion of their income is from all the high priced snacks. Overall I found it very interesting that amusement parks make so much money by all of their high priced rides and snacks.
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