£1BN LOCAL BUSINESS BOOM EXPECTED AS UK’S NEXT THEME PARK TAKES SHAPE
Plans for Universal Studios’ first European theme park, set to open in Bedfordshire in 2031, could spark an unprecedented wave of local investment worth up to £1billion in new hotels and restaurants alone, according to analysis by Approved Business Finance.
With the park expected to attract 8.5 million visitors annually and create 28,000 jobs, the development is being tipped as one of the most significant boosts to the UK tourism economy in decades. But research reveals that Bedfordshire will need to transform quickly to cope with the crowds.
Opportunities for local business
In a data-led study, Approved Business Finance analysed theme park infrastructure around the world to understand how many hotels and restaurants will need to be constructed to fulfil visitor demand.
The area that will house the theme park is currently mostly open space, with no real amenities that could service the needs of millions of annual visitors. According to the research, the local area around the park will need at least 19 hotels nearby to accommodate guests. Right now, there aren’t enough to come close. For comparison:
- Disneyland California has 80 hotels within two miles.
- Magic Kingdom Florida has 22 hotels within walking distance.
- Even Thorpe Park, with less than a quarter of the expected footfall of the new Universal park, has 12 hotels nearby.
And it’s not just beds that are in short supply – it’s food, too. To meet visitor demand, the Bedfordshire site will need around 93 restaurants in its immediate surroundings. At present, there are only four. That’s a shortfall of 89 restaurants. By comparison:
- Alton Towers has 78 restaurants nearby.
- Disneyland California has nearly 200.
- Tokyo Disneyland boasts 177 within two miles.
The project will create 28,000 jobs and spark investment across construction, hospitality and retail, providing a massive boost to the local and national economy. Construction cost estimates for hotels and restaurants alone could be between £240m and £1.1bn, depending on the size and standard of the new premises.
Mark Kozo, Commercial Director at Approved Business Finance, commented:
“The sheer scale of the Universal development will create unprecedented demand for local infrastructure. With the right investment, Bedfordshire could become a hotspot for entrepreneurs and national chains alike. The opportunity here for local businesses is exciting, and one the area can really benefit from.
“Through commercial mortgages and asset finance, we’re ready to help local and incoming businesses access the funding they need. Whether that’s building a hotel, fitting out a restaurant, or expanding a logistics operation – this is a once-in-a-generation opportunity, and businesses that act early will be best placed to benefit.”
David Jazani, Senior Lecturer in Building Technologies and Construction at the University of Bedfordshire, added:
“I expect a lot of the work on the park itself to be carried out by specialist contractors from outside of the area, but certainly some support work may come from local businesses.
“Primarily, I see opportunities for the service and hospitality industry emerging from the development, and the impact on housing would be quite high. Bedford Council needs to start preparing now to meet requirements.”
Patricia Yates, Chief Executive of VisitBritain/VisitEngland, said:
“It is fantastic that Universal have chosen Bedford as the site of their first theme park in Europe, demonstrating the importance of tourism to attract inward investment, drive economic growth and create jobs. It is exciting to see that visitors will be able to enjoy more state-of-the-art film and TV-related experiences right here in Britain once the theme park opens in 2031.”
