Walt Disney's stock experienced a significant decline of 5.03% during intraday trading on Thursday, reflecting investor concerns about the company's performance.
The drop comes amid reports of declining international travel to the United States, particularly from Canadian visitors who are choosing Disney destinations abroad instead of U.S. parks. According to travel industry data, foreign travel to the U.S. was down 5.4% through November 2025, with Canadian visits dropping by 22% compared to the previous year.
Disney's CFO Hugh Johnston acknowledged on the company's latest earnings call that Disney has "less visibility into international bookings" and has shifted marketing efforts toward domestic travelers. Travel agencies report that many Canadian clients who typically book U.S. Disney vacations are now opting for destinations like Disneyland Paris due to political concerns about traveling to the United States.