Investing

Universal’s new Epic Universe park set to generate $2 billion for Florida in year one

1 Mins read

Epic things are coming to Orlando.

In a little more than a month, Universal will officially open the doors of its newest theme park, the first major theme park in the Florida area in 25 years, spurring a major shift in Orlando’s tourism industry.

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

It will join Universal Studios and Walt Disney World in theme park mecca Orlando.

Tourism has long been the leading sector in central Florida, drawing both domestic and international visitors. More than 74 million people journeyed to Orlando in 2023, contributing around 50% of the total sales tax collected in Orange County.

Epic Universe is not only expected to bolster theme park revenues for Universal, as well as its rival just down the highway, Disney, but also bring in billions of dollars to the local economy.

“This is the first major, entirely new theme park in the U.S. in 25 years. This is a compelling reason to visit Orlando,” said Casandra Matej, CEO of Visit Orlando, a tourism trade association. “So, when you see a major milestone project such as Epic Universe, you know it’s going to have definitely a domino effect of economic benefits for our community.”

This post appeared first on NBC NEWS

Related posts
Investing

Shopify says a daylong Cyber Monday outage has been resolved

1 Mins read
Outages on Shopify’s e-commerce platform have been resolved, the company said late Monday, bringing to an end a daylong glitch on the…
Investing

Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

2 Mins read
MILAN — The Prada Group announced Tuesday that it has officially purchased Milan fashion rival Versace in a 1.25 billion euro (nearly…
Investing

Starbucks to pay about $35M to NYC workers to settle claims it violated labor law

1 Mins read
Starbucks will pay about $35 million to more than 15,000 New York City workers to settle claims it denied them stable schedules…