Stock Markets February 12, 2026

Canadian Travelers Shift Disney Plans Overseas as Visits to U.S. Decline

Decline in foreign arrivals to the United States driven largely by a drop in Canadian visitors; travel firms report major changes in booking patterns and attractions hit worldwide

By Maya Rios DIS
Canadian Travelers Shift Disney Plans Overseas as Visits to U.S. Decline
DIS

Fewer international visitors are traveling to the United States this year, with Canadian departures accounting for the largest share of the decline. Travel agents and vacation specialists say political tensions and immigration enforcement concerns have prompted many Canadians to redirect Disney vacations and other U.S.-bound trips to destinations in Europe and Asia. Data through November show total foreign travel to the U.S. down 5.4%, and industry groups and travel companies report sharp falls in bookings to U.S. parks, hotels and national parks.

Key Points

  • Total foreign travel to the United States fell 5.4% through November 2025, driven by a loss of 4 million Canadian visits - a 22% decrease year-over-year.
  • Travel agents and Disney-focused vacation companies report that roughly 30% of Canadian clients who usually book U.S. Disney trips are choosing alternatives like Disneyland Paris, and some long-standing visitors are booking European parks and Asia-based cruises instead.
  • The decline in international arrivals is affecting multiple sectors - theme parks, national park tour operators and U.S. hotels - with companies reporting lower bookings, cancellations of U.S.-focused itineraries and declines in per-room revenue and occupancy in the United States.

Travel companies that specialize in Disney vacations and broader leisure travel are reporting a material change in consumer demand from Canada, with a notable number of travelers choosing destinations outside the United States.

Government travel statistics and industry feedback point to a clear shift. Through November, total foreign travel to the United States was down 5.4% for 2025, led by 4 million fewer visits from Canadian travelers - a 22% decline from the prior year, according to the U.S. Commerce Department’s National Travel and Tourism Office (NTTO).

Travel agents say the decline reflects a deliberate decision by many Canadian customers to avoid visiting the United States. They cite a mix of political issues - including President Donald Trump’s trade policies, his past threats to seize Greenland and tougher immigration enforcement - as factors that have reduced the United States’ appeal for some international tourists, according to agents.

Christine Fiorelli, who owns the Canadian travel agency Fairytale Dreams & Destinations, said roughly 30% of clients who would normally book U.S. Disney vacations are now selecting alternatives such as Disneyland Paris. "Many travelers are still eager for that magical Disney experience but prefer to avoid supporting U.S.-based parks at this time," she said. "It still holds a place in their heart, but not now."

Walt Disney’s finance team has noted the change in demand. On the company’s most recent earnings call, Walt Disney CFO Hugh Johnston said the firm had less visibility into international bookings for the second quarter and that marketing and sales efforts had been refocused toward domestic customers. Disney did not respond to an additional request for comment.

At the consumer level, some longtime visitors say they have rerouted their trips. Catherine Norris, 57, from the Toronto area, said she and her husband - who have visited Disney World annually since 2008 - are postponing U.S. travel in favor of European Disney parks and cruises departing from Singapore. "We’re huge Disney lovers, but given the current political climate, we’re not traveling to anywhere in the U.S.," she said. "It will probably be at least five to ten years before we will travel to the U.S. again."

Visit Orlando, the city’s destination marketing organization, reported that Canada was the top market for visitors to Orlando in 2024, with a record 1.2 million visitors. Visit Orlando has not released figures for 2025.

Reactions to the trend have varied among U.S. officials. Anna Kelly, White House deputy press secretary, framed the administration’s policies differently, saying: "President Trump has done more for American tourism than anyone. His America First agenda has restored our country’s place as the leader of the free world once again - making it the best place to live or visit."

Outside official statements, independent industry forecasts show a weakening in inbound tourism. The World Travel and Tourism Council estimates a 6% drop in foreign visitors to the United States in 2025, even as global tourism grew by 6.7% in the same period.

The downturn in international arrivals is rippling across multiple travel sectors. Companies that run tours of U.S. national parks report declines, and hotel operators have flagged softer performance in the United States compared with other regions.

Intrepid Travel, which offers more than 300 U.S. national park tours, said bookings for 2026 were down 42% overall, with the steepest falls coming from Canada, the United Kingdom and Australia. Intrepid reported that bookings from Canada plunged 93%.

UK luxury travel firm Cazenove+Loyd said it abandoned plans for bespoke itineraries centered on parks in states such as Montana, Washington and California. "It might not be quite the time to launch something that is dedicated to the States," co-owner Christopher Wilmot-Sitwell said.

Hotel operator Hilton Worldwide reported that full-year per-room revenue and occupancy rates fell in the United States for 2025, even as these metrics rose in every other region. Separately, Marriott International’s chief executive told analysts at a January conference that the company was engaging government officials in efforts to encourage a more welcoming approach to international visitors, according to a report by CoStar.

Flight analytics firm Cirium provided booking data showing declines across multiple markets. Bookings by Europeans to the U.S. between October 7 and January 31 were down 14% year-over-year, while bookings from Canada fell 17% in the same interval.

Added uncertainty has come from policy proposals at the White House level. A recent plan to require millions of travelers to submit social media data as part of travel screening has worried travel agents, who say it could dissuade potential visitors. The U.S. Travel Association warned that such a policy could push millions of vacationers to choose alternative destinations, and Erik Hansen, the group’s head of government relations, said immigration enforcement efforts have created a perception that entering the United States is more difficult than in prior administrations.

On that point, Hansen also noted that when looking at government data, the number of phone searches by U.S. Customs and Border Protection and the number of denied entries has not risen compared with previous administrations, suggesting a gap between perception and these specific enforcement metrics.

The combined picture presented by government statistics, industry estimates and travel agents is one of a tourism market in flux. For U.S. parks, hotels and operators of destination experiences that rely on international foot traffic - including the Disney parks - the near-term outlook is clouded by shifts in traveler preferences and policy-related uncertainty.


Advertising aside: Investment recommendation tools and third-party AI stock products referenced in some discussions evaluate Walt Disney Company (DIS) using various financial metrics, but the broader travel and tourism data cited here focus on visitor flows and booking patterns rather than stock fundamentals.

Risks

  • Policy and perception risk: Proposals such as requiring social media data for travelers and heightened immigration enforcement have increased uncertainty and could depress international arrivals, affecting the hospitality and tourism sectors.
  • Booking uncertainty: Less visibility into international bookings for firms like Walt Disney has led to a strategic pivot toward domestic marketing, which may leave international-demand-dependent businesses vulnerable.
  • Concentration risk for destinations reliant on specific markets: Orlando and U.S. national parks that previously drew large Canadian and European audiences may see prolonged revenue shortfalls if these visitor patterns persist.

More from Stock Markets

European Equities Split Between Defense, Financials Rally and Consumer, Healthcare Slump Feb 22, 2026 Stifel Warns Enterprise Software May Face Prolonged Realignment, Drawing Lessons from eCommerce Shift Feb 22, 2026 Chinese AI Stocks Rally as Investors Embrace Winners While U.S. Markets Worry Feb 21, 2026 Three Earnings Reports This Week Will Test the Durability of the AI Investment Theme Feb 21, 2026 Moscow Market Closes Flat as Select Large-Caps Offset Losses Feb 21, 2026