My MBA Career Prospers as Disney Ends $1 Billion Spending in Florida – Impact of Controversial Policies on Convention Cancellations, Tourism, and Local Businesses

Last Updated on August 4, 2023 by Robert C. Hoopes

Title: Florida’s Economy Under Strain as Disney and Governor Clash Over LGBTQ+ Values

Word Count: 326

Florida Governor Ron DeSantis’s clash with The Walt Disney Co. over LGBTQ+ values and inclusivity is taking a toll on the state’s economy, as strained relations lead to canceled projects and declining tourism.

Governor DeSantis singled out Disney, which resulted in California Governor Gavin Newsom embracing the company for its commitment to diversity. The conflict between DeSantis and Disney escalated when former Disney CEO Bob Chapek openly opposed DeSantis’s “Don’t Say Gay” legislation, which sparked tensions between the company and the governor.

The battle reached a boiling point when DeSantis took control of the Reedy Creek Improvement District, triggering legal disputes and further straining relations with Disney. This move resulted in Disney canceling a highly anticipated $1 billion project and the termination of plans for a promising Star Wars-themed hotel in Florida.

Disney CEO Bob Iger didn’t mince words when he criticized DeSantis, labeling him as “anti-business” and “anti-Florida.” Meanwhile, Disney has shifted its focus to the Disneyland Forward program in California, projecting significant growth and job creation in the state.

However, the implications of the Disney-DeSantis feud extend beyond their conflict. Florida’s controversial policies on LGBTQ+ rights and race are driving conventions and conferences away from the state. The Orlando area, in particular, is experiencing a decline in tax collections and hotel occupancy as families transition away from theme parks and express displeasure with price increases at Disney’s theme parks.

The weakening tourism industry raises concerns about the long-term sustainability of Florida’s economy, which heavily relies on the tourism sector. With conventions and conferences skipping the state and families opting for alternative vacation destinations, the repercussions are far-reaching.

As Florida navigates this challenging environment, it remains to be seen how the state will address these concerns and whether there will be any reconciliation between the governor and Disney. The fate of Florida’s tourism-driven economy hangs in the balance, with stakeholders eagerly watching for signs of stabilization and renewed growth.