Universal Says Proposed UK Theme Park & Resort Will Give $53B Boost To Country’s Economy
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Universal has suggested that a proposed UK theme park and resort will generate close to $53B (£50B) in economic benefits to the host country.
Universal Universal Destinations & Experiences (UDX), the theme park unit of Comcast subsidiary NBCUniversal, announced last December that it had acquired a 476-acre site for a proposed new UK location outside the town of Bedford, some 60 miles northwest of London.
It is currently carrying out feasibility and due diligence studies and is set to make a final decision on the project by the end of this year.
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An Economic Impact Analysis (EIA) report, commissioned by UDX as part of this process and released today, has forecast a net economic contribution of $37.4B (£35.1B) billion over the construction period and first 20 years of operation.
The report also estimated the site would generate up to $15B (£14.1B) in net additional tax returns for the UK over the same period.
It said that other potential benefits included the creation of thousands of jobs, including 20,000 jobs during the construction period as well as 8,000 posts once the site was operational.
The proposed UK site would be the first European location for UDX, which currently runs five branded theme parks and resorts, spanning including Universal Orlando Resort, Universal Studios Hollywood, Universal Studios Japan, Universal Beijing Resort, and Universal Studios Singapore.
Wednesday’s EIA report suggested the park would be one of the the highest-attended attractions in the UK and bring in millions of international visitors.
“A world-class theme park and resort from Universal has the potential to generate billions in economic benefit for the UK, by creating thousands of high-quality jobs and attracting millions of new visitors to the country,” said Page Thompson, President, New Ventures of Universal Destinations & Experiences in response to the EIA report.