Walt Disney World Celebrates 40 Years, Shifts Strategy

By on Oct 1, 2011 in Business, Entertainment, Lifestyle, Travel, World Comments
Walt Disney World's Magic Kingdom

Magic Kingdom: Walt Disney World’s first theme park
Image: Disney World

Walt Disney World resort will be celebrating its 40th year this weekend, according to reports by several international news sites today, October 1, 2011. The first theme park of Walt Disney World, Magic Kingdom, opened in October 1, 1971.

Though the resort endures the troubled economic times, Walt Disney World seems to be changing its strategy over the years. It has slowed down expansion as it hasn’t built a new theme park in 13 years. During the past 16 years, Walt Disney World hasn’t added a water park. A new company-hotel is now under construction after eight years. The resort’s approaches are in contrast to its first three decades of existence. They now focus more in expanding their existing theme parks.

The Magic Kingdom, was followed by three other Florida theme parks that include Epcot (1982), Disney’s Hollywood Studios (1989) and Disney‘s Animal Kingdom (1998). Early developments by Walt Disney World are three water parks, 15 hotels, a 120-acre retail district and many others.

Reports say that during a ten year period from 2000 to 2010, Walt Disney World‘s total revenue grew 59 percent, from $6.8 billion to $10.8 billion. Disney World is reportedly the world’s largest park business.

Walt Disney World revealed that the resort is coming up with large scale projects that include two new cruise ships, a Hawaiian hotel, a new theme park in Shanghai and expansion of several existing theme parks around the world. Disney has embarked a $1 billion “Next Generation Experience” technological advancement. The initiative includes a new reservation system wherein guests can book reservation on rides while on their way for a theme park vacation.

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