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Economy
In reply to the discussion: Weekend Economists' Harvest Ball September 21-23, 2012 [View all]xchrom
(108,903 posts)66. Eurovegas won’t hit the jackpot
http://www.presseurop.eu/en/content/article/2735051-eurovegas-won-t-hit-jackpot
Theme parks in Spain are largely a story of lay-offs, suspended payments, critical blasts from urban planners, major investments with write-downs stretching far into the future, sudden lurches, and continuous changes in management. And theyre often stories too of failed political adventures set out upon by autonomous governments, either directly or through savings banks. And Port Aventura (Tarragona), thanks to a rescue in 2004 with the entry of the La Caixa banking group, which restructured the business in 2009, doesnt exactly have a lot to boast about.
Despite the failures in both Spain and Europe, the response of the Catalan Generalitat to U.S. billionaire Sheldon Adelsons choice of Madrid to host the Eurovegas mega-gaming resort has been to endorse the project to build not one but six theme parks at a stroke in the towns of Vila-Seca and Salou, linking them up with the existing Port Aventura. The project is being promoted by La Caixa and the Brazilian group Veremonte, owned by Valencian businessman Enrique Banuelos, one of the leading figures in Spains construction boom.
The supercomplex is to be called Barcelona World, and its promoters claim it will generate 20,000 jobs (double the number of indirect jobs), cost 4.7 billion euros to build, and pull in ten million tourists a year. The European benchmark is Disneyland Paris, which gets about 15 million visitors annually.
Theme parks in Spain are largely a story of lay-offs, suspended payments, critical blasts from urban planners, major investments with write-downs stretching far into the future, sudden lurches, and continuous changes in management. And theyre often stories too of failed political adventures set out upon by autonomous governments, either directly or through savings banks. And Port Aventura (Tarragona), thanks to a rescue in 2004 with the entry of the La Caixa banking group, which restructured the business in 2009, doesnt exactly have a lot to boast about.
Despite the failures in both Spain and Europe, the response of the Catalan Generalitat to U.S. billionaire Sheldon Adelsons choice of Madrid to host the Eurovegas mega-gaming resort has been to endorse the project to build not one but six theme parks at a stroke in the towns of Vila-Seca and Salou, linking them up with the existing Port Aventura. The project is being promoted by La Caixa and the Brazilian group Veremonte, owned by Valencian businessman Enrique Banuelos, one of the leading figures in Spains construction boom.
The supercomplex is to be called Barcelona World, and its promoters claim it will generate 20,000 jobs (double the number of indirect jobs), cost 4.7 billion euros to build, and pull in ten million tourists a year. The European benchmark is Disneyland Paris, which gets about 15 million visitors annually.
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