Exactly 20 years ago, on April 12, 1992, Mickey Mouse landed near Paris to give life to the most popular tourist destination in Europe, with its 250 million visitors throughout the twenty years: Disneyland Paris, 2 hectares at the gates of the French capital completely immersed in the fantastic world of animated princesses and heroes. And, unfortunately, also completely overwhelmed by debt.
In the last financial year, the amusement park, owned by the Euro Disney Sca group controlled 51% by the US Disney Sas, in fact recorded further losses of 56 million euros, which bring the total debt to 1,8 billion, accumulated mainly in the second decade. Throughout its history Disneyland Paris has recorded positive only 7 years (from 1994-95 to 2000-01), while twice he had to restructure the company to avoid bankruptcy. This happened in 1994, when a bailout led by a Saudi consortium chaired by Prince Al-Waleed helped reduce the debt, which had immediately soared to 16 billion, to 10 billion. The second intervention took place ten years later, in 2004, even if since then Topolino and associates have done nothing but accumulate other losses. The stock on the Stock Exchange, which debuted in 92 at around 82 francs per share (12,5 euros) has now dropped to 4,45 euros at yesterday's close, after having reached an all-time low in 2000 with 0,47 euro per share. Not to mention the constant trade union wars, which have made Walt Disney's world anything but fantastic: 180 company agreements have been signed, and often won through lawsuits and strikes. Although the company managed by Philippe Gas always stresses that 87% of employees are hired on permanent contracts, that 42% of them have been linked to the company for at least ten years and that 80% of management was appointed through internal promotion.
But if from a financial point of view the French Mouse was a flop, its commercial success was equally undeniable. Since its first year of existence, the Marne-la-Vallée park has established itself as the leading tourist destination on the continent with 10,6 million visitors, confirmed year after year up to the absolute record set in 2011 with 15,6 million tourists welcomed, or 6,2% of all French tourism. There is also to say, however, that more than half of this figure comes from the domestic market (only 4%, for example, from Italy) and that the complex could host more than 17 million visitors a year. Furthermore, the crisis made itself felt: despite the increases in tariffs and the exchange rate with the euro, each tourist, between a photo with Donald Duck and a ride on a roller coaster, spends an average of 46 euros. Not a little, but just 3 euros more than it already did in April '92.
However, Disneyland's success or failure shouldn't be judged only within the park's four walls. The impact on the French economy, in particular on that of the so-called Val d'Europe, a small area of the Ile-de-France about thirty km east of Paris and easily reachable with the RER, was in fact nothing short of exceptional. An agglomeration up to 20 years confined – like the rest of the banlieue – to its anonymous destiny in the shadow of the rich and opulent capital, has seen its population grow from 3 to 25 inhabitants, with just as many jobs created: an investment of 7 billion euros (1 of which is public) which has generated an added value of 50 billion, with an estimated 55 new jobs counting indirect and induced ones (one job out of every three created across the Alps, 15 in the amusement park alone). Next to Disneyland there is also one of the largest shopping centers in France, which according to the new tourist plan will soon become the largest with more than 200 square meters of surface area. The project also includes the construction of 3.500 new homes; the Villages Nature, parks created around the themes of water and sustainable development; the expansion of the Walt Disney Studios and why not, by 2020, the construction of a third attraction complex.
Other than Mickey Mouse, Scrooge McDuck stuff.
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