New Universal Theme Park in UK: $53 Billion in Economic Benefits and Over 16,000 Jobs
Universal Destinations & Experiences (UDX), a unit of Comcast subsidiary NBCUniversal, has proposed a new UK theme park and resort that is expected to generate around $53 billion in economic benefits for the host country. The 476-acre site for the new location outside Bedford, about 60 miles northwest of London, was acquired by UDX last December. Feasibility and due diligence studies are currently being conducted, with a final decision on the project expected by the end of the year.
The Economic Impact Analysis (EIA) report commissioned by UDX predicts that the construction period and first 20 years of operation will result in a net economic contribution of $37.4 billion. The report also estimates up to $15 billion in net additional tax returns for the UK during the same period. The site is expected to create thousands of jobs, including 20,000 during construction and 8,000 once operational.
The proposed UK site would be the first in Europe for UDX, which currently operates theme parks and resorts in Orlando, Hollywood, Japan, Beijing, and Singapore. According to an EIA report released on Wednesday, the park would become one of the highest-attended attractions in the UK and attract millions of international visitors.
President of New Ventures at Universal Destinations & Experiences, Page Thompson, stated that a world-class theme park and resort from Universal has the potential to bring billions in economic benefits to the UK through
