Disney invests $60 billion in theme parks expansion

Disney is significantly increasing its investment in theme parks. CEO Bob Iger announced plans at the company's annual meeting, revealing they will invest $60 billion over the next ten years. This announcement follows last year's commitment to boost efforts in this area. Iger highlighted exciting new attractions and themed lands based on popular franchises like Cars, Avatar, The Lion King, Monsters Inc., and Coco. He stated that Disney currently has more projects underway than ever before. Notably, the Magic Kingdom in Florida is undergoing a massive expansion, including areas inspired by Cars and a Villains-themed land. In addition, a new Tropical Americas land will be added to Disney’s Animal Kingdom, featuring themes from Encanto and Indiana Jones. The company's California Adventure park will see an expansion of the Avengers campus and a new ride based on Coco. Disneyland Paris will also introduce the first ride featuring The Lion King. Iger mentioned that these expansions will create thousands of jobs in the local communities of Florida and California. The developments follow a previous legal conflict with Florida's governor, which has now been resolved, allowing a $17 billion development plan at Walt Disney World. As Disney prepares to compete with Universal's new Epic Universe theme park, they are also expanding their Cruise Lines business. The company has recently launched the Disney Treasure and has seven more ships in development, including Disney Destiny and Disney Adventure. Iger confirmed that Disney's current focus is on enhancing existing parks and resorts rather than opening new locations.