Disneyland's ongoing closure could ultimately cost SoCal economy $5 billion

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Friday, October 23, 2020
Disneyland's closure could mean $5 billion loss for SoCal economy
The monthslong shutdown of Disneyland Resort's theme parks due to the pandemic has already cost the local economy $3 billion, and could ultimately cost another $2 billion.

ANAHEIM, Calif. (KABC) -- The coronavirus pandemic is having a major impact on Southern California's economy with Disneyland being closed.

Cal State Fullerton economists say the loss could total $5 billion dollars.

According to the Orange County Register, the Southland's economy has already lost $3 billion dollars.

WATCH: Orange County businesses protest new California theme park reopening guidelines

About 50 owners, managers and employees of hotels, restaurants and shuttle companies gathered across the street from Disneyland to show their frustration with the state's new guidelines for reopening theme parks.

Another $2 billion dollars could be lost if Disneyland remains shut down through next March.The economists based their estimates on numbers from last year.

The economists also believe there will be a total loss of 46,000 jobs. Orange County could potentially take the biggest hit, with 33,000 of those jobs lost.

Earlier this week, California's secretary of health and human services said places like Disneyland and Universal Studios won't be allowed to reopen until their home counties reach the lowest tier, which has high hurdles including a sustained infection positivity rate under 2%.

Smaller venues will be allowed to open when their home counties are in the "moderate" category, but only with 500 patrons or at 25% of capacity, whichever is smaller, and only the outdoor attractions. Tickets must be sold in advance and restricted to residents of that county.

RELATED VIDEO | Inside look at Disney World's safety measures amid COVID-19

"Good Morning America's" exclusive behind-the-scenes look inside Disney World as it prepares to reopen amid the coronavirus pandemic.

"We have proven that we can responsibly reopen, with science-based health and safety protocols strictly enforced at our theme park properties around the world," Disneyland Resort president Ken Potrock said in a statement.

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The Walt Disney Co. is the parent company of this station.

The Associated Press contributed to this report.