OLC announced that the investment in the brand-new Space Mountain opening in 2027 has increased, making it almost certainly the most expensive ride that Walt Disney Imagineering has ever built (for now). Here are the latest details about this mega E-Ticket attraction rising above Tomorrowland at Tokyo Disneyland, plus our on-the-ground construction photos.
This is a construction project we’ve been watching take shape for the last couple of years. It’s exciting as fans of Tokyo’s Tomorrowland and Space Mountain, and it’s also the first blockbuster attraction for the next generation of Imagineering post-COVID. It should be another in Imagineering’s blockbuster family-friendly roller coasters, following Guardians of the Galaxy: Cosmic Rewind, albeit with a different ride system. We’re also excited to see the bigger-picture changes as part of this expansion and overall overhaul to Tomorrowland.
If Tokyo’s Tomorrowland reimagining isn’t on your radar…maybe it should be. That’s true even if you’re exclusively a fan of Walt Disney World or Disneyland. That’s because, as mentioned in The Future of Tomorrowland at Magic Kingdom, this could be a blueprint for what’s to come at the domestic parks. We’re arguably already starting to see this, with Buzz Lightyear’s Space Ranger Spin and Carousel of Progress being updated, and Space Mountain rumored to be next up.
According to Oriental Land Company, the owner and operator of Tokyo Disney Resort, the new Tomorrowland plaza will express the connection between Earth and the universe, representing an image of a future where humans are in harmony with nature.
Guests will be able to enjoy moments of rest and relaxation in this plaza where various icons and other design elements create a sense of hope for the future. This all-new Space Mountain will also entail a reimagined plaza that will create a reimagined area of Tomorrowland.
The new Space Mountain will maintain its original concept as an indoor roller coaster, but will have enhanced performance and immersive special effects that will give guests even more thrills on this exciting rocket ride. More on what that could mean in terms of the ride system below.
When the reimagined Space Mountain was first announced, OLC revealed that the investment would be approximately 56 billion yen. Even at the time, that was a staggering sum that would have made it one of the most expensive Disney attractions of all-time.
Fast forward a few years, and OLC has upped the already blockbuster budget. In the Results for the Third Quarter of the Fiscal Year Ending March 2026, OLC reveals that the new approximate investment amount is ¥70.5 billion.
Using the exchange rate from 2019 or the two decades prior, that would’ve been around $700 million USD. With the current strength of the dollar and weakness of the yen, it’s closer to $460 million. (For more on the exchange rate, see Is It Cheaper to Visit Tokyo Disney Resort Than Walt Disney World in 2026?)
Of course, OLC is not spending dollars–they’re spending yen. Meaning that once the investment cost is localized, it is the biggest budget attraction that Imagineering has built to date. At least, that we know of.
It’s not surprising that the budget for Space Mountain has increased since the project was announced nearly 4 years ago. The project was announced in April 2022, the same month that inflation surpassed Bank of Japan’s 2% target for the first time. Spoiler alert: that was not the last time.
Inflation kept increasing until its peak in January 2023, at which point it hit a 41-year high. Japan’s inflation rate slowed sharply to 2.1% in December 2025, its lowest level since March 2022, and is expected to continue decelerating in 2026. But that doesn’t really matter from Space Mountain’s perspective, as much of those higher labor and materials costs have (mostly) already been paid.
Inflation isn’t just impacting this project. In the same report, OLC indicated that they’re spending approximately ¥29.5 billion into the new Wreck-It Ralph ride (also opening in 2027 in Tomorrowland), which is roughly $200 million. That’s a staggering sum for an attraction that was believed to be a ride reimagining that would utilize existing infrastructure. I will be really, really curious to see where all of that money is spent.
In all likelihood, the new Space Mountain at Tokyo Disneyland will be the most expensive attraction Imagineering has ever built as of its opening in 2027.
The only other candidates as potentially costing more that come to mind are Enchanted Tale of Beauty and the Beast at Tokyo Disneyland, Anna & Elsa’s Frozen Journey and Peter Pan’s Never Land Adventure at Tokyo DisneySea, Guardians of the Galaxy: Cosmic Rewind at EPCOT, Avatar Flight of Passage at Animal Kingdom, and Star Wars: Rise of the Resistance at Disneyland and Disney’s Hollywood Studios.
We only have rumored costs of the stateside attractions, and those might put the last three entries over the top if you’re using the unfavorable (to Space Mountain) exchange rate. I’m skeptical that either of the TDR attractions cost more, despite their complexity and envelope-pushing nature, if only because those investments were largely made before inflation really took hold.
OLC actually releases investment amounts for its expansion projects in its quarterly and annual investor reports, whereas the Walt Disney Company does not. The best we get are rumors, offhand remarks during earnings calls, or statements on background when expansion opens.
However, OLC releases the final budgets for those expansions as a whole, but not the individual attractions. We can nevertheless probably surmise from the total tallies that the Fantasy Springs an Fantasyland Forest headliners were less expensive than the new Space Mountain.
It’s a similar story with the Walt Disney World attractions, all of which had their investments made before the worst of inflation took hold. If setting aside or adjusting for inflation, other attractions that are rumored to be among the most expensive ever include Pirates of the Caribbean: Battle of the Sunken Treasure at Shanghai Disneyland, Radiator Springs Racers at Disney California Adventure, and Country Bear Jamboree, because there are some things you can’t put a price on.
If anything, there’s a secondary story here about how this underscores the explosion of construction costs.
Even if Space Mountain is the most expensive Disney attraction ever built when it opens in 2027, it probably won’t hold that crown for too long. As discussed in the recent post about Walt Disney World spending $22 million on the MuppetVision theater transformation, it’s probable that the Monsters, Inc. Door Coaster will cost north of $500 million (USD).
Even if the yen strengthens in the next year-plus to the point that the new Space Mountain is considered a $500-$600 million investment when it opens, it’s still unlikely to hold the top spot for too long. (From my perspective, these investments should all be localized to avoid this type of dynamic; if that happens, it won’t be the Space Mountain budget changing, it’ll be the exchange rate shifting.)
Higher labor costs in the US mean the upcoming projects, including Pandora in California and Villains Land in Florida are likely to hold the new #1, even once budgets are localized. Those expenses will largely be incurred 5+ years after Space Mountain, and it’s also not as if inflation has dropped to zero during that timeframe. The better question is what will be the first $1 billion ride Disney builds?!
Now let’s turn to some background about the new Space Mountain for those who are unfamiliar with this massive and interesting project. OLC held a traditional Shinto groundbreaking ceremony for the expansion in May 2023. Prior to the closing of the original Space Mountain, walls went up in the old bus parking lot and construction began on the new show building.
The original Space Mountain didn’t close until July 31, 2024. That’s because the new Space Mountain is actually being built entirely behind the old Space Mountain. There was an ~8 month stretch when there were clearly two Space Mountains, one being built and one being demolished. (See Futuristic Double-Vision: Second Space Mountain Takes Shape Above Tomorrowland for more photos.)
The roller coaster track was installed first, and then the gravity building was constructed around it. Eagle-eyed roller coaster enthusiasts identified one section as being drop track manufactured by Intamin, one of the ‘big’ roller coaster manufacturers that’s behind other Disney rides.
Prior to that, it had been assumed that the new Space Mountain would be a twist on Guardians of the Galaxy: Cosmic Rewind at EPCOT, using the same track and layout but with (probably) a new theme and characters.
However, that ride was made by Vekoma, meaning that Space Mountain is an original and different concept. We still expect it to be a family-friendly “story” coaster, since that’s likely to appeal to Japanese audiences more than an intense thrill ride.
Here’s our most recent look at construction and destruction of the rising and falling (for now) twin Space Mountains at Tokyo Disneyland, starting with a wide view from our room at Tokyo Hilton Bay for context. The project site is on the far left side of the frame. Photos are from mid-December, so two months old now and not exactly hot-off-the-presses:
In case it’s not obvious, the last photo is demolition of the old Space Mountain from one year earlier, shot from a perspective that more or less mirrors the previous photo.
I’ve included this because it’s interesting how the scale from the entrance to Tomorrowland looks almost identical. The new Space Mountain is significantly larger, but it’s also farther back.
This placement is going to open up a colossal entrance plaza for the new Space Mountain. I shouldn’t be surprised since the concept art does show a swooping flyover walkway leading to the new attraction and several planters in front of that, but I guess I underestimated their scale. This should be a lovely plaza space…well, when it’s not overflowing with people waiting ~240 minutes for the new ride!
It’s also worth mentioning–for the sake of those visiting in the next year or so–that the path on the right side of this photo that leads to Monsters Ride & Go Seek and World Bazaar is often closed.
You can kind of make out the pull-down door in the middle of that corridor. This is being utilized because it allows easier access to the Wreck-It Ralph project site during daytime hours. There were times throughout our visits in the last year when these walkways were closed (usually midday). Other times, they were open (usually night).
Tokyo Disneyland has a clever set-up here with each project site walled off, and then a separate set of walls that block that corridor itself. This is to give Imagineers and construction workers easier access to the Wreck-It Ralph site from backstage, allowing them to remove or install props, set pieces, etc. without waiting until the park is closed.
Ultimately, it’ll be interesting to watch the new Space Mountain continue to take shape. If the pace of this work is any indication, it has me wondering why this ride isn’t opening until 2027. That feels like a very conservative timeline for a coaster that looks like it could be ready to roll at some point in 2026. This seems doubly true since the coaster itself has been finished for some time.
Accordingly, our expectation is that Space Mountain is on-track to open alongside the new Wreck-It Ralph ride, which already has an official opening season of Spring 2027. Our expectation is that both attractions and this new-look area of Tomorrowland will all debut on April 15, 2027, which is Tokyo Disneyland’s anniversary.
Planning a trip to Tokyo Disney Resort? For comprehensive advice, the best place to start is our Tokyo Disneyland & DisneySea Trip Planning Guide! For more specifics, our TDR Hotel Rankings & Reviews page covers accommodations. Our Restaurant Reviews detail where to dine & snack. To save money on tickets or determine which type to buy, read our Tips for Saving Money post. Our What to Pack for Disney post takes a unique look at clever items to take. Venturing elsewhere in Japan? Consult our Ultimate Guide to Kyoto, Japan and City Guide to Tokyo, Japan.
YOUR THOUGHTS
What do you think of the new Space Mountain rising in Tomorrowland at Tokyo Disneyland? Surprised that this is currently (probably) the most expensive Disney ride ever? Think it’s a waste to spend so much money on a glorified roller coaster? Or are attractions like this and Cosmic Rewind “worth” their blockbuster budgets? Think Villains Land, Pandora, or something else will soon dethrone Space Mountain as Disney’s most expensive attraction? Agree or disagree with our assessments? Any questions? Share your thoughts in the comments!