Orlando Airport and Talk over with Florida lately printed their stats for the closing calendar 12 months, with each reporting sturdy regardless of decreases in global vacationers and at Walt Disney Global. Right here’s a have a look at the MCO and statewide vacationer numbers, how this compares and contrasts with what WDW has shared, and makes an attempt to reconcile the effects.
Let’s get started with the initial estimates from Talk over with Florida, which point out that the Sunshine State welcomed 143.3 million guests in 2025, making for some other record-setting 12 months for Florida. Within the fourth quarter on my own, an estimated 33.5 million guests traveled to the state, making it the perfect fourth quarter visitation on listing.
Home vacationers accounted for 91.5% of all guests in 2025, with 131.1 million American citizens touring to Florida. Out of the country visitation reached 9.3 million, whilst Canadian visitation totaled 2.9 million, which was once “in step with historic tendencies” the place Canadian shuttle represents roughly 2% of general visitation in line with Talk over with Florida (extra on that under).
Florida additionally skilled endured enlargement from key global markets, with sturdy will increase from Latin American nations comparable to Brazil and Argentina, in addition to Eu markets together with the UK, France, Spain, Italy, and the Netherlands. Brazil is now the second-largest global supply of holiday makers to the state.
Consistent with Talk over with Florida, the Sunshine State is still the number 1 home shuttle vacation spot in the USA and a best choice for global guests. Florida attributes the expansion to strategic investments in communities that advertise task enlargement, bolster small companies, and beef up infrastructure. All cementing Florida’s position as a number one shuttle vacation spot, each nationally and across the world.
Key highlights from Talk over with Florida’s fourth quarter and calendar 12 months 2025 visitation estimates are under:
This autumn 2025
- Initial estimates point out that 33.5 million general guests (in person-trips) traveled to Florida within the fourth quarter (This autumn) of 2025, a +0.6% build up from This autumn 2024 and a listing prime for a fourth quarter.
- In This autumn 2025, Home visitation is estimated at 30.31 million, and global visitation is estimated at 3.2 million.
- Home guests accounted for 90.5% of general guests, whilst global guests accounted for 9.5%.
- General enplanements at 19 Florida airports totaled 27.4 million in This autumn 2025, up by way of +2.8% from This autumn 2024.
Calendar 12 months 2025
- Initial estimates point out that 143.3 million general guests (in person-trips) traveled to Florida in calendar 12 months (CY) 2025, a +0.2% build up from CY 2024.
- Home visitation accounted for 91.5% of general visitation in 2025, up moderately from 91.4% the former 12 months, whilst in another country visitation made up 6.5% and Canadian visitation made up 2.0%, consistent with historic visitation information.
- Home visitation is estimated at 131.1 million in 2025, an build up of +0.3% from 2024. Out of the country visitation is estimated at 9.3 million, with Canadian visitation at 2.9 million.
- Florida noticed enlargement throughout all best 5 in another country beginning nations 12 months over 12 months. Brazil grew 10.4% from 2024, Argentina grew 17.8% and Spain entered the highest 10 beginning nations with 10.4% enlargement in guests.
- Initial estimates point out an air/non-air cut up for home guests of 35.8% / 64.2% in 2025, with a smaller proportion touring to Florida by way of air than in 2024.
World Commute Decreases
World visitation was once addressed by way of Disney on a few income calls closing 12 months, certainly one of which indicated that Walt Disney Global and Disneyland had “noticed somewhat of an have an effect on” of more or less 1% to one.5% in a world downtrend.
On the time, what Disney anticipated going ahead was once very similar to that, mentioning that they had been “greater than making up for it with home attendance–attendance on the parks has been terrific.” It will appear that this kind of mirrors the stats for Florida, as a complete.
Right through Disney’s most up-to-date income name simply closing month, the corporate warned of global visitation “headwinds” and a looming slowdown within the ahead steerage. No numbers got, however the tone prompt the global lower had deepened year-over-year. On account of this, Walt Disney Global pivoted its advertising and gross sales efforts to concentrate on extra of a home target market so as to stay attendance and occupancy charges prime.
We’ve theorized that the slowdown amongst global attendees would possibly hit Walt Disney Global more difficult in 2026 than closing 12 months, because of the lag between reserving and touring. The most efficient global promos are launched a complete 12 months prematurely and had been locked-in lengthy earlier than the global tensions emerged, and guests are much less prone to cancel an current shuttle that’s at the books than they’re not to ebook a long term one. In line with ahead steerage, it sounds as if this lagged global slowdown thesis is proper.
Even so, many different markets already noticed primary global decreases closing 12 months. As a complete, the USA registered a 6% drop in international guests in 2025 at the same time as international tourism noticed a 6.7% upward thrust in spending in comparison to the former 12 months, in line with information from the Global Commute and Tourism Council.
The worldwide tourism trade is predicted to develop 4.5% in 2026, in step with WTTC projections. Locations in Europe and Asia are anticipated to peer double-digit enlargement, fueled partially by way of vacationers moving plans from the USA to different locations.
That information illustrates that Florida has no longer been hit as tough as the remainder of the rustic.
Anecdotally, global guests appear much less vulnerable to surrender ceremony of passage theme park journeys or seaside holidays than the ones to primary metros. In truth, I’d’ve anticipated a some distance larger drop in global visitation. Divergent customer demographics between Florida and New York or California, for instance, may also play a component.
For Florida, guests from Latin American nations are selecting up the slack. We’re no longer in the least stunned by way of that enlargement as, anecdotally, our on-the-ground enjoy has been that the excursion teams are again in complete pressure. That’s arguably the actual tale right here, that the numerous beneficial properties from Latin The united states have masked marked decreases in other places.
Canada Constant…or Down?
It’s price noting that there’s somewhat of spin with the Canadian numbers, which Florida signifies are “in step with historic tendencies” at 2.0% or 2.9 million guests. When you glance in other places, you could see information suggesting a double-digit decline.
All of it is determined by the body of reference. Canadian visitation totaled 3.3 million in 2024, which was once up by way of +1.2% over 2023. The mirrored the continued COVID restoration, with global guests being slower to go back than home one, which no less than partially additionally explains the continuing enlargement from different markets in 2025. Canadian visitation was once nonetheless down as of 2024 by way of 20.0% from 2019.
From our point of view, a drop of from 3.3 million to two.9 million guests year-over-year, particularly when the trajectory another way would’ve been modest enlargement, is reasonably noteworthy. It’s under no circumstances as hard-hit as some towns and different home locations, however wouldn’t were the predicted result as of early closing 12 months, earlier than Canadians Began Canceling Walt Disney Global Holidays.
On the similar time, the baseline quantity was once low, the drop wasn’t that steep, and it was once greater than offset by way of different guests. As a result, without equal have an effect on on Florida and Walt Disney Global was once no longer important. Whilst cancellations or non-bookings boost up in 2026, it’s as soon as once more not going to be an considerable lower in crowds, except accompanied by way of a home downturn or decline from Latin The united states.
Larger Orlando Aviation Authority Stats
At Orlando World Airport (MCO), passenger visitors greater 2.5% for the month of December with home visitors up 2.2%. World passenger visitors greater 4.2%, leading to MCO’s busiest ever month for global visitors, with greater than 800,000 global passengers for the primary time ever. It additionally endured MCO’s spectacular run of 57 consecutive months of global visitors enlargement.
The rolling 12-month general for MCO was once 57.7 million passengers, up 0.8% 12 months over 12 months, with a median greater than 158,000 passengers in step with day. This quantity was once in-line with 2023, which set the best-ever listing for MCO passenger quantity.
In general for the 12 months, MCO reported 49.22 million home passengers, down 0.36% 12 months over 12 months, in conjunction with 8.45 million global passengers, an build up of 8.2%.
For the closing couple of years, MCO has in large part been treading water. The GOAA firstly forecast a record-breaking 60 million passengers in 2024, or a ten% build up from 2023’s listing 57.7 million passengers. Because of a slowdown in the second one part of the 12 months, the real quantity ended up being 57,211,628.
Partially, those numbers are because of infrastructure. Each the addition of the brand new Terminal C, which has given the airport the next ceiling, and capability barriers, that have avoided MCO from assembly natural call for right through sessions of upper shuttle. It is a giant driving force at the back of Orlando World Airport’s Giant $6 Billion Growth & Enhancement Plan.
In different phrases, MCO already hit an all-time listing because of the added capability of Terminal C, however the airport continues to be suffering to stay alongside of call for right through height sessions. I don’t know if it will’ve hit 60 million when pent-up call for was once operating sizzling, however that is in large part a tale of infrastructure.
Some other attention here’s the explosive inhabitants enlargement in Central Florida. Whilst the point of interest is on tourism right here, there’s additionally the most obvious truth that locals additionally use airports, and extra other folks residing round Orlando manner extra other folks the use of the airport.
That virtually indisputably has a larger have an effect on on home information than global, however Floridians do shuttle in a foreign country–and there’s additionally an incredibly massive choice of other folks from Brazil, Canada, and many others. with moment properties in Central Florida. Portuguese was once the dominant moment language in our subdivision once we lived close to Walt Disney Global.
Walt Disney Global Stats
Right through the closing fiscal 12 months (no longer calendar 12 months), Disney’s 10-Okay published that attendance was once down 1% 12 months over 12 months on the home theme parks. There’s no breakdown between Walt Disney Global and Disneyland, however we think the drop was once disproportionately in Florida for the next reason why.
If we additionally check out Disney’s 10-Q for the primary quarter of the 2026 fiscal 12 months, which is the closing quarter of the 2025 calendar 12 months, it confirmed that attendance was once up 1% 12 months over 12 months. This contrasts each the similar quarter within the earlier 12 months, when attendance was once down 2%.
The background here’s Hurricanes Helene and Milton initially of the 2025 fiscal 12 months, the latter of which brought about the parks to near and had an extended tail of decrease crowds because of cancellations within the days and weeks afterwards. The adversarial have an effect on of the hurricanes was once $120 million on running revenue, and Disney additionally attributed the two% quarterly lower to those hurricanes.
If you alter from Disney’s fiscal 12 months to the 2025 calendar 12 months, attendance on the parks was once principally flat. This isn’t fuzzy math–it’s what the corporate’s management has said on income calls.
This isn’t an enormous wonder, and is kind of what we’re anticipating as soon as the once a year TEA attendance document is launched. (For 2024, see Walt Disney Global Attendance Rises Somewhat as Common Orlando Deepens Drop.)
Disney’s regulatory filings one after the other document hotel occupancy, which greater from 85% to 87% at Walt Disney Global and Disneyland. Since there are exponentially extra Disney-owned motels in Florida than California, that is in large part a tale of Walt Disney Global’s energy.
It’s additionally price noting right here that no longer most effective did Common open Epic Universe, however in addition they introduced 3 new motels right through that length. Even past the 2 theme park operators, there was important lodge enlargement in Orange County, as mirrored in greater vacationer occupancy tax collections, that have additionally been surroundings information.
For the reason that, it’s particularly spectacular that Walt Disney Global controlled to extend occupancy. Our sturdy suspicion was once that this was once pushed by way of competitive discounting, particularly over the summer time months when there was once–and nonetheless is–room for development. Relating to total income (pushed by way of visitor spending beneficial properties), Walt Disney Global has now reported listing leads to the closing 3 quarters regardless of the outlet of Epic Universe.
Disney was once requested concerning the have an effect on of Common Orlando’s new theme park right through a up to date income name. Right here’s what the CFO needed to say: “We’ve mentioned Epic Universe prior to now as one thing that we knew was once going to be a think about home parks and, in reality, it was once very a lot consistent with our expectancies. If the rest, it kind of feels to be impacting the remainder of the contest down in Florida greater than it’s impacting us. From a shopper point of view, we indisputably be ok with it.”
Common Orlando Stats
In the meantime, Comcast’s fresh income calls have expressed pleasure and optimism for that new park’s opening, whilst additionally hinting at one of the similar problems (capability and reliability) that we’ve been discussing for some time (see Why You Must Skip Epic Universe Till 2026).
Comcast’s Theme Parks phase reported $2.893 billion in income for the general 3 months of closing 12 months, up 21.9% from the similar length in 2024. For the 12 months, Comcast reported $9.836 billion in income for its parks phase in 2025, up 14.2% from 2024. Epic Universe wasn’t up for the entire 12 months, and has been scaling up, so be expecting will increase smartly above 22% within the upcoming quarter or two.
As with Disney, the above are blended numbers between each coasts, and Comcast reported that Common Studios Hollywood in truth dragged down effects–which means the expansion in Orlando was once even more potent than prompt by way of the numbers. “The hole of Epic Universe is already appearing as a catalyst throughout Orlando, riding longer remains, upper in step with cap spending, and greater call for throughout our parks and motels, reinforcing the sexy returns we see from endured funding on this trade,” shared Comcast Co-CEO Brian L. Roberts.
Common’s spectacular enlargement is in part because of favorable comparisons. For each and every of the 2 earlier years, each parks at Common Orlando had sharp attendance decreases (-9.3% for each parks in 2023; -2.5% and -5.5% in 2024).
It’ll be fascinating to peer how 2025 attendance fares at Common Studios Florida and Islands of Journey now that Epic Universe is open. Traditionally, new gates have come on the quick time period expense of current ones, which means some other lower at IoA and USF can be in step with previous precedent.
On the other hand, Common used a daring technique that in large part bundled Epic Universe get entry to into multi-day applications that “compelled” visitors to discuss with the legacy parks. There’s additionally the truth that Epic Universe doesn’t have Annual Passes, and Common Orlando has a big native fanbase.
We’ll have to attend till the TEA document for Common’s numbers, as Comcast doesn’t proportion particular park attendance numbers on income calls. We suspect they might be boasting about it if that bundled technique had been paying off in impressive model, regardless that.
Regardless, Common Orlando for sure grew marketshare, which means that the beneficial properties of Epic Universe had been upper than doable losses on the different gates. That’s to be anticipated. Comcast wouldn’t have spent $7 billion on a brand new theme park to tread water.
In the end, Florida reported listing customer numbers closing 12 months, nevertheless it wasn’t as though they smashed the former 12 months’s effects; total, it was once an build up of 0.2%. That was once regardless of a notable drop from Canada, which was once in flip offset by way of giant beneficial properties from primary in another country markets and home vacationers.
MCO’s endured enlargement of global passengers is puzzling. That 8.2% 12 months over 12 months build up is a huge achieve, and it’s no longer as though that was once pushed by way of a very simple comparability–global visitors has grown for 57 consecutive months! This may be upper than Florida as a complete, suggesting that Orlando is outperforming the statewide stats.
The most efficient cause of MCO’s enlargement is the brand new terminal, however that’s nonetheless spectacular. Added capability doesn’t lead to listing numbers except there’s additionally call for. (One risk is they’re no longer all vacationers; that the aforementioned people with moment properties in Central Florida are much more likely to shuttle to and from the Sunshine State when there are extra routes and costs are cheap.)
One fascinating and under-discussed attitude is Florida’s reputation as a budget-friendly vacation spot for home vacationers. That is touched upon in short within the Talk over with Florida announcement, however in an unusual approach that touts their advertising efforts. We presume this to be true around the board for Florida tourism, which may well be counterintuitive given the prime prices of visiting Walt Disney Global.
Remember the fact that Florida additionally has seashores, and that the Sunshine State is only a huge draw normally, past theme parks (heresy to a few folks parks enthusiasts, I do know).
That means it’s completely conceivable that Florida is seeing an inflow of budget-minded vacationers at the same time as a center magnificence pullback in client spending happens on shuttle, because the state additionally has many economical holiday choices.
This isn’t completely theoretical. As mentioned in Wealthy Rescue Walt Disney Global from Spending Hunch, information published that decrease and middle-income American citizens spent much less at regional theme parks and sights closing summer time, buying and selling down for extra budget-friendly journeys–like seashores.
In the meantime, prosperous vacationers spent greater than earlier than at pricier Disney and Common locations. Suffice to mention, the 2 giant gamers in theme parks and Florida’s finances locations may well be acting strongly, at the same time as mid-tier sights really feel the squeeze.
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YOUR THOUGHTS
What do you call to mind the Talk over with Florida and Orlando Airport stats for closing 12 months? Stunned by way of the rest within the information? to peer ultimate attendance figures for Walt Disney Global and Common Orlando? Agree or disagree with any of our research? Any questions we will be able to assist you to resolution? Listening to your comments–even while you disagree with us–is each fascinating to us and useful to different readers, so please proportion your ideas under within the feedback!
