Universal is to open a new theme park in the UK which will become a major rival to the likes to Alton Towers and Thorpe Park after a deal was agreed.

The US entertainment giant has received the backing of the government and the local council for the project which will see a theme park and resort constructed in Bedford.

The development is expected to bring nearly 20,000 jobs to the area during the construction phase while 8,000 new roles will be created across the hospitality and creative industries when it opens in 2031. 

In a statement, the government said around 80 per cent of employees at the theme park are expected to come from the local areas.

Universal said it expects the site to generate nearly £50bn for the UK economy by 2055.

It also claimed that 8.5m visitors will come to the site in its first year – a total which would make it the largest visitor attraction in the UK.

The development will be the first Universal-branded theme park and resort destination in Europe and will be part of a larger 476-acre entertainment resort complex.

By comparison, Thorpe Park is 490 acres and Alton Towers is 550 acres.

Proposed plans from Universal Destinations & Experiences also feature a 500-room hotel and a retail, dining and entertainment complex.