Universal’s Epic Universe park to generate billions for Florida

Emerlands are coming in Orlando.

A little more than a month, Universal Officially the first major theme park in the Florida region in 25 years will open its latest theme park doors, which make a major change in Orlando’s tourism industry.

Epic Universe is the largest of all universal properties in 750 acres and has five themed worlds: The Wizarding World of Harry Potter – Magic Ministry, Super Nintendo World, How to Train Your Dragon – Isle of Berk, Celestial Park and Dark Universe.

The theme park will be included in the Universal Orlando’s other theme Park and Walt Disney World in Mecca Orlando.

Tourism has been a major region in the central Florida for a long time, attracting both domestic and international visitors. More than 74 million people traveled to Orlando in 2023, contributing about 50% of the total sales tax collected in Orange County.

The epic Universe is expected to increase the theme park revenue not only for Universal, as well as its rival under the highway, DisneyBut it will also bring billions of dollars to the local economy.

“This is the first major, completely new theme park in the US in the US in 25 years. It is a compelling reason to visit Orlando,” said CEO CEO of Tourism Trade Association, Orlando. “Therefore, when you see a major milestone projects such as Epic Universe, you know that it is definitely a domino effect of economic benefits for our community.”

The epic universe, First announced In 2019, Represents the largest single investment Universal company Comcast Anytime in his theme park business and in Florida, the CEO of COCCAT was said at that time. This figure is rumored to be around $ 7 billion.

This huge effort, which Officially opens on 22 MayThe franchise is a way to show its diverse library for Universal and increase its entertainment business. It currently operates about a mile of about the adventure and Universal Studio Florida, as well as volcanic bay, a water park, road.

Universal Orlando produced $ 44 billion under economic influence between 2019 and 2023, according to a report by Sean Snath, director of the Economic Forecasting University, Central Florida, which was pleaded by the media company.

Universal’s latest theme park is already making waves. Snath determined that the direct investment of Universal in Epic Universe resulted in construction and operating expenses as well as hiring new employees as an economic impact of $ 11 billion across the country.

According to Snath’s study, Universal Orlando produced 94,000 jobs across the country in 2023 in 2023, including engineers, software experts, artists, architects and set designers. The company said that about 65,000 jobs were made to build the epic universe.

Snath’s research also found that Epic Universe would produce about $ 2 billion for the state of Florida in the first year of its operation. According to Snath’s research, more than 17,500 new jobs are estimated across the country in its first year.

“The labor market in Florida is still strong,” Snath said. “So it is rich like rich. We are telling that Florida will continue to pursue the national economy in terms of economic development and job development.”

Once the park opens, visitors will stay in local hotels, rent cars, shop, shop and visit restaurant, increase revenue for other local businesses.

Jacob Wahl, CEO of International Association of Emusement Parks and Attraction, said, “You see the area around the Epic Universe actually extending since that construction.” “You look at the new infrastructure. You see new housing. You are seeing that new hotels are being built. You see a new restaurant. This is a boost for the entire region.”

Experts at Theme Park told CNBC that other destinations of the region including Disney, will possibly see a collision with the inauguration of the epic unique.

“When Disneyland Paris” was opened in 92, there were concerns from theme parks around Paris, “said. “But the opposite actually happened. They extended their audience. And this is something likely to happen in Orlando as it strengthens the destination.”

Also promote competition between companies to create new developments, whether parks, land or riding, more compelling and innovative attractions in guests.

“It is a growing tide that raises all boats,” Matage said.

Typically, both Universal and Disney get protection from those going to Orlando, especially from guests who are traveling from state or from other countries. Being an additional park means that many people will expand their holidays to allow more time to experience the epic universal with three other theme parks and four theme parks of Disney.

“What we know is every day that someone expands his stay, which has millions of dollars of economic impact for our community,” said Matej.

Disclosure: Comcast CNBC’s original company is the owner of NBCUNIVERSAL.