Disney World's $8 Ticket Was NOT a Great Deal
A man entered Magic Kingdom recently using a 1978 ticket that cost $8 at the time
The Disney World $8 Ticket
Several news outlets are reporting on a man who got into Disney World’s Magic Kingdom using an $8 ticket from 1978.
The linked article contains the following passages:
Ables said in his TikTok video that his vintage pass cost $8, which means the price of a ticket for Disney World has increased by at least 1,262.5%.
Fox Business reached out to Matthew Ables for comment.
A Magic Kingdom ticket may vary with prices hitting upwards of $184 for those over 10 and $179 for ages 3-to-9 years old.
and later
"$8 in 1978 is worth about $40 in today’s value. Its crazy how much they keep increasing prices," another person wrote. "I’m just saying that based on inflation alone, prices should be about 1/3 of what they are now.
Inflation and Quality Improvements
The inflation adjustment mentioned in the article is accurate, as on average prices are five times higher now than they were in 1978. That doesn’t mean the ticket was a good deal. What the commentators are missing is a common error when assessing inflation: Quality Bias.
Many products we buy get better over time. For example, you might spend a similar amount on a television today as you did 20 years ago. But today’s TV for the same price will have a much larger screen and take up less space in your home. Cars have also improved significantly in quality - and much of the price increases seen in cars is from these improvements.
Disney World Today Is Better than it was in 1978
What about Disney World? Let’s take a quick look at the attractions that were not available in 1978:
Big Thunder Mountain
Splash Mountain (which is closed to be refurbished and reopen as new attraction featuring Princess and the Frog)
Buzz Lightyear’s Space Ranger Spin
Mickey’s Philharmagic
Seven Dwarfs Mine Train
And many more
Simply put, Disney World today isn’t the same as Disney World in 1978. There are the rides above plus many more that didn’t exist then. The quality - in terms of what you can get from a Disney Ticket - is higher. Today, adjusting for inflation, the 1978 ticket would cost $40 if we ignored quality improvements. But the attractions listed above are some of the most beloved and popular attractions at Magic Kingdom, and I think many people would not pay $40 if their entry excluded those rides.