Universal Destinations & Experiences (UDX) recently commissioned an Economic Impact Analysis (EIA) to test the economic viability of opening one of their award-winning theme parks in the UK.
The EIA demonstrated the unique value a world-class theme park and resort could bring to the UK, helping to unlock economic potential and boost growth, create thousands of high-quality jobs, and generate billions in tax revenue for the country.
With a Universal theme park and resort in Bedford….
The UK realises billions in economic benefit
- The net economic contribution of the potential project for the UK is forecast to be £35.1 billion over the construction period and first 20 years of operation.
- It is also estimated to generate up to £14.1 billion in net additional tax returns for HM Treasury over the same period.
Thousands of jobs will be created, along with career growth and training opportunities
- The project generates 20,000 jobs during the construction period; at the peak, there will be 5,000 workers on-site.
- Once operational, the project is expected to initially create 8,000 new jobs, rising over time, consisting of a range of high-quality, multi-disciplinary team member roles with a commitment to pay the living wage.
- Evidence from our other theme parks suggests that for every job supported within our parks, at least 1.5 further jobs may be supported, in our supply chain and across all areas of the economy, resulting in a net additional 20,000 jobs supported by the project, as well as supporting high-quality apprenticeships.
Millions of visitors to the UK generating additional economic benefits for the wider economy
- The project would be amongst the highest-attended attractions in the UK, bringing millions of incremental international visitors to the UK.
A statement from Universal said: “UDX has carried out the EIA as part of its wider due diligence and looks forward to continuing its engagement with local and national stakeholders about realising the project’s potential.”
Page Thompson, President, New Ventures of Universal Destinations & Experiences said: “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.”
