Universal has plans for a new theme park and resort in the UK, with estimates suggesting it could generate about $53 billion in economic benefits. This proposed location in Bedford, located just outside of London, spans across 476 acres and is currently undergoing feasibility studies. A final decision on the project is expected by the end of the year.
A recent Economic Impact Analysis (EIA) report commissioned by Universal Destinations & Experiences (UDX) projected a net economic contribution of approximately $37.4 billion over the construction period and the first 20 years of operation. The report also forecasted up to $15 billion in additional tax returns for the UK during the same period.
The proposed UK site would be the first European location for UDX, which already operates five branded theme parks and resorts globally. This new park is expected to create thousands of jobs during the construction phase and once operational, offering employment opportunities to around 8,000 individuals.
The EIA report highlighted the potential of the UK location to become one of the most highly-attended attractions in the country, attracting millions of visitors both domestically and internationally. Page Thompson, President of New Ventures at UDX, emphasized the economic benefits that a world-class theme park and resort from Universal could bring to the UK by creating jobs and boosting tourism.