Universal Destinations & Experiences (UDX), a unit of Comcast subsidiary NBCUniversal, has announced plans to build a new UK theme park and resort. The site, which is located outside Bedford, about 60 miles northwest of London, is expected to generate around $53 billion in economic benefits for the host country. Feasibility and due diligence studies are currently underway, with a final decision on the project expected by the end of the year.
An Economic Impact Analysis (EIA) report commissioned by UDX predicts that the project will contribute a net economic contribution of $37.4 billion over the construction period and first 20 years of operation. 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. The EIA report released on Wednesday suggests that 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 the creation of high-quality jobs and the attraction of new visitors to
