An Economic Impact Analysis report released today suggests that the proposed Universal theme park and resort in the United Kingdom would generate close to $53 billion (or £50 billion) in economic benefits, according to Deadline.
What’s Happening:
- Last December, Universal Destinations & Experiences revealed that it had acquired a 476-acre site for a proposed new U.K. location outside the town of Bedford, around 60 miles northwest of London.
- A newly released Economic Impact Analysis (EIA) report has forecast a net economic contribution of $53 billion over the construction period and first 20 years of operation.
- Additionally, the report estimated that the site would generate up to $15 billion (£14.1 billion) in net additional tax returns for the U.K. over the same period.
- Other potential benefits listed in the report include 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.
- Wednesday’s EIA report suggested the park would be one of the the highest-attended attractions in the U.K. and bring in millions of international visitors.
- The Comcast-owned company is in the midst of carrying out feasibility and due diligence studies and is set to make a final decision on the project by the end of this year.
What They’re Saying:
- Page Thompson, President, New Ventures of Universal Destinations & Experiences: “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.”
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