FIRST UNIVERSAL THEME PARK IN EUROPE Set to generate £50bn of economic benefits for UK
New details have been unveiled for Universal’s first UK theme park – including plans for the attraction to be open 365 days a year.
Universal Destinations & Experiences – which is owned by Sky’s parent company Comcast – has bought land near Bedford as it plans to build Europe’s largest theme park with millions of visitors per year, as well as a 500-room hotel and dining area.
Universal’s economic impact analysis, produced in line with HM Treasury guidelines on economic appraisal and published today suggests the attraction will generate nearly £50bn of economic benefits for the UK.
It said the net economic contribution of the potential project for the UK was forecast to be £35.1bn over the construction period and first 20 years of operation.
Up to a further £14.1bn was expected to be generated in extra taxes for the exchequer over the same period.
The analysis suggests the project will generate 20,000 jobs during the construction period which, at its peak, will see 5,000 workers on the site. Once operational, it is expected to create an initial 8,000 new jobs, rising over time. The company has made a commitment to pay the living wage to employees.
