The two titans of the theme park industry, The Walt Disney Company and Universal, are redefining the future of tourism in the United States with historic investments aimed at enhancing visitor experiences and expanding resort destinations.

Universal made headlines this May with the opening of Epic Universe, a fourth theme park at Universal Orlando Resort. The $7 billion project, according to figures from the University of Central Florida, is the largest investment in Universal’s history. “It’s so different than anything else that we’ve ever built,” said Karen Irwin, President and COO of Universal Orlando. Comcast CEO Brian Roberts called it “the single-largest investment Comcast NBCUniversal has made in its theme park business.”

With the debut of Epic, Universal is also expanding its hospitality footprint, adding three Loews hotels, making a total of 11 on-site properties, positioning the resort as a full-week vacation destination.

Meanwhile, Disney is not sitting still. In 2023, it announced an ambitious $60 billion investment into its Experiences segment, which includes theme parks, cruises, and consumer products. Half of that—$30 billion—is earmarked for U.S.-based parks: Walt Disney World in Florida and Disneyland in California.

“This is a massive site and we want to stay current, invest in our existing assets and make new experiences,” said Alison Armor, Vice President for Resort Operations at Walt Disney World. Michael Hundgen of Walt Disney Imagineering added: “It’s about finding what strikes the best creative intent in the most value-oriented way possible.”

These massive projects come at a time when Disney and Comcast are shifting focus away from traditional TV divisions and betting big on theme parks, a segment that has proven resilient post-COVID. Yet, both projects face challenges from global economic uncertainty and potential slowdowns in travel.

“As economic concerns grow, travelers may become more cautious,” warned Jorge Ridderstaat, professor at UCF’s Rosen College of Hospitality Management.

But despite these headwinds, Florida’s theme park industry is once again leading the charge in reinventing how the world vacations.