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The Impact of the 2025 Trump Administration on the Themed Attraction Industry

For over 8 weeks, in anticipation of the return of the Trump administration on 1/20/2025, I have been putting together some thoughts, both pro and con, that could possibly occur about the impact of the new administration on our industry. This change in leadership is expected by many within our industry to bring significant economic, as well as numerous government policy, shifts which will directly and indirectly affect the themed attraction industry. This look/see examines some of the potential implications, focusing on anticipated economic growth, inflation control, market performance, labor situations, and the liberation of pent-up USA oil supply. My analysis allows the belief that the Attractions Industry will experience positive growth under this administration, particularly if discussed policies are duly signed and swiftly implemented.

Some of the promised priorities of the Trump administration are geared toward immediately rebuilding economic growth through tax cuts, border control legislation, and oil deregulation, as well as immediately instituting “drill baby drill” (no further dependence on overseas energy). This single-issue - Energy - may very well have the biggest impact on our industry, from lowering travel costs to spawning attraction spending due to more leisure dollar availability. These policies are aimed at bolstering American businesses, both domestically and internationally. Actions of this nature should increase disposable income for middle- and upper-income households, resulting in higher consumer spending. When these types of actions have occurred in the past, singularly or in some cases simultaneously, we have seen positive attraction growth in both attendance and visitor in-park spending across the board, bolstering industry attendance growth and attraction revenues.

So, if history repeats, the anticipated resultant increased discretionary income that becomes available often translates into higher visitation / attendance and spending at themed attractions. Families and tourists feel more confident investing in vacations and entertainment experiences, leading to robust demand.

The risk remains however, while tax cuts and tariffs could stimulate growth, a real possibility exists for potential increase in national debt that may lead to long-term economic uncertainties impacting consumer confidence in later years; it is too early to determine. The jury will be out on this item until the administration efforts begin rooting and showing true positive / negative benefits. How long? We do not know, but the expectation for the required action is readily anticipated to be instituted. In fact, as I write, over 100 bills have been signed on day one and two of the new administration! The Trump administration’s focus on energy independence and regulatory reform may swiftly alleviate crucial inflationary pressures in key sectors such as transportation and manufacturing. If rapidly addressed, this could help stabilize prices and encourage investment in the early months of the administration’s takeover.

Source:  The White House

Consequently, and of paramount importance, is creating an accelerated stabilization, or a declining inflation rate, which will improve the cost considerations of themed attractions, particularly for costs associated with Construction, Cap X, Operations / COGS, Marketing, and Social Media, ultimately reflecting on lowering general overall pricing.

Additionally, a strong stock market would benefit publicly traded companies in the industry, allowing for expansions and innovations. From the risk standpoint, quite a few geopolitical uncertainties and trade tensions still exist around the world and could lead to market volatility, which could impact long-term capital investments in the industry, as well as visitor attendance patterns. Too early to evaluate, but geopolitical issues remain persistent.

A second Trump administration may likely prioritize policies that promote domestic tourism, strengthen the U.S. travel industry, and hopefully continue to streamline the visa processes for international tourists as the Biden administration has done. However, in 2017, severe adjustments were made in the J-1 visa programs by Trump that negatively affected our industry. This time, however, the stakes are higher as the U.S. tourism target nears its goal of 90 million annual visitors by 2026. Any new restrictions could shift the global travel landscape, impacting airlines, hotels, and leisure businesses dependent on international tourists. This matter remains uncertain at this time but appears to be leaning towards an enabling of process for “appropriate” foreigners to obtain visas. The upside supports that enhanced travel policies and infrastructure development lead to increased domestic and international tourism, benefiting major themed attraction hubs like Orlando, Anaheim, New York, Las Vegas Chicago, and Miami. The risk is that restrictive immigration policies or travel bans will deter certain international travelers, potentially limiting the growth of overseas tourism markets. Again, too early to tell. We shall see.

Corporate tax and regulatory issues are being closely monitored by all of us. It is anticipated that environment pro-business tax policies and reduced regulations will empower themed attraction companies to expand and innovate and to do a better job of controlling pricing. Thinking upside, major players like Disney, Universal, SeaWorld, and Six Flags could leverage a more favorable tax environment to fund large-scale projects and create new experiences, driving competition and industry growth. The risk is that deregulation might lead to increased scrutiny or backlash related to environmental impacts, which could complicate public relations or lead to localized pushback. However, it does not appear that this is clearly on the horizon. While currently the outlook is optimistic, there are potential challenges to consider such as workforce Issues. Immigration reforms may lead to labor shortages in the hospitality and entertainment sectors, where we rely on seasonal and diverse staffs at critical fringe times of the year.

Aggressive economic policies could lead to an overheated economy, triggering inflationary pressures or necessitating Federal Reserve intervention. We have seen this happen before in 2007-2009 and 2022. The big unknown…..global trade disputes…..or conflicts that could erupt as a result of tariffs being considered, disturbing supply chains for materials and goods required for park operations and expansions, as well as our customers’ businesses.

Under the 2025 Trump administration, the themed attraction industry, I believe, is poised to benefit from policies aimed at economic growth, regulatory relief, and tourism development. The potential for increased consumer spending, stable inflation, and a strong stock market (which exceeded 44,000 today!) creates a favorable environment for growth. While challenges exist, the overall combined outlooks suggests that the industry may fair quite well in 2025. Fingers crossed.

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