- Lending Tree conducted a study on how a Disney World vacation affects Americans’ finances.
- Nearly 50% of parents with children under 18 borrow money to pay for a Disney trip.
- Respondents said eating and drinking in the parks was a major strain on their budget.
As prices soar, some parents are emptying their bank accounts and maxing out their credit cards for Disney trips.
Disney’s high admission prices have been a hot topic of conversation among guests lately, even to the point that Disney CEO Bob Iger frowned in disbelief.
Disneyland is expected to increase ticket prices in 2023, and Disney World is expected to increase costs in 2025.
So Lending Tree surveyed more than 2,000 American consumers to understand how a trip to a Disney theme park could impact a family’s finances.
What was discovered is a bit worrying.
“Of the 77% of theme park-going parents with children under 18 who have been to Disney, 45% said they went in debt for their Disney trip,” the survey found.
This is an increase from a 2022 Disney debt study, which found that 30% of parents with children under 18 are in debt.
The average debt for parents with young children was about $2,000, according to the survey.
Despite the financial hit, 59% of parents said they did not regret their decision.
“For many parents, taking their kids to Disney is a rite of passage, a fond childhood memory and something they want to experience with their kids,” Matt Schultz, principal credit analyst at LendingTree, said in a statement. “Because of those sentiments, they’re often willing to go into debt to get there.”
The biggest hits to parents’ Disney-related budgets are food, travel, and lodging: In the survey, 65% of respondents with Disney-related debt said food and drink costs were higher than expected.
Representatives for Disney World and Disneyland did not respond to Business Insider’s requests for comment.
Price hikes at Disney and everywhere and the rising cost of child care are already impacting parents across the country, leading some to look for alternatives to Disney.
One husband told BI that instead of taking their usual family trip to Walt Disney World, they decided to go to Great Wolf Lodge in North Carolina.
My husband said the kids had more fun at Great Wolf Lodge than Disney Adventures and it was less expensive too.
Have you ever gone into debt to go to a Disney theme park? Want to share your story? If so, contact this reporter at ledmonds@businessinsider.com
