In a little more than a month, Universal (NASDAQ:CMCSA) 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 it will 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.”
Shares in parent company Comcast faded 18 cents Wednesday to $34.22.