Disney World theme park rival invades a new land

Walt Disney World opened the doors to its first theme park in 1971 in Orlando, Florida. Since then, the park has become an incredibly lucrative source of income and marketing for the company, welcoming millions of visitors yearly.

Because Universal saw the immense success and recognition that Disney (DIS) had acquired with its theme park, the company decided to develop a similar concept.

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In 1990, Universal Studios Florida, the first Universal theme park, opened only a few miles from its rival. This marked the beginning of an ongoing theme park battle that continues to this day.

One of Universal Orlando Resort's main attractions is The Wizarding World of Harry Potter, with multiple themed sections across three of its Orlando theme parks.

Although it might seem odd for a UK-based franchise to have only Harry Potter theme parks in the U.S., the UK is still home to The Warner Bros. Studio Tour London – The Making of Harry Potter attraction, where all films were produced.

However, this attraction is not a theme park because Warner Bros. (WBD) sold the theme park rights to Universal in 2007.

Nonetheless, this studio tour is still very popular worldwide, with people traveling thousands of miles to visit this iconic location.

Universal Orlando Resort
John Greim/Getty Images

Universal announces the development of a potential theme park and resort

Last year, Universal Destinations & Experiences announced it was exploring the potential development of a theme park and resort project in the UK after confirming the purchase of around 476 acres of land south of Bedford the previous year.

Over several months, the company discussed the project's proposal with its investors. It also held public engagements to share it with government leaders and local communities to address concerns and obtain feedback.

Thanks to these efforts, this past July, six local government leaders united to support the Universal theme park project in the UK by writing a letter to the Prime Minister emphasizing the project's potential and impact on the community.

"The project creates 20,000 jobs during construction, with an additional 20,000 jobs generated directly and in the supply chain during the resort’s operation. This significant job creation underscores the tangible economic impact the potential project will have on the region. Additionally, the project’s scale will help set England’s South East Midlands as one of the foremost visitor destinations in Europe and the World," stated the letter.

Universal (CMCSA) forecasts that this theme park could bring approximately £50 billion in total economic benefit to the UK over the construction period and the first 25 years of operation after it is complete.

Universal's UK theme park's most recent update and estimated opening date

Although Universal said a final decision had yet to be made regarding whether it will proceed with the project, it stated that all its developments had created thousands of jobs during and after construction, helped drive foot traffic to local businesses, and led to the construction of more lucrative projects.

"Please note, while we recognize the tremendous excitement our developments bring, at this stage it is still too early in the process to know the responsibilities of featured attractions and experiences, and so these do not form the basis of any materials," said Universal in a press release.

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So far, the UK Treasury has approved a financial proposal for the theme park, 500-room hotel, no-ticket-required dining area, train station, and two transport hubs.

If Universal's UK theme park gets full government approval, it could take around six years to build, which is how long it took its latest theme park, Epic Universe, which is set to open this year.

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