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Japanese City Banking on Hollywood

By Yuri Kageyama/AP

Residents are hoping a little bit of Hollywood magic will bring a lot of relief to this troubled economy.

Universal Studios opens its first amusement park outside the United States on Saturday in Osaka, where homeless huddle in tattered plastic tents and burn firewood outside a more traditional tourist spot, Osaka Castle.

Organizers hope to attract 8 millions visitors a year to the sprawling park, generating $654 million in revenue. The city of Osaka put up $82 million, or a quarter of the initial investment, for the project, which cost $1.4 billion to build. City officials estimate the overall economic boost for the region could reach $7 billion, from tourists staying at hotels, riding cabs, dining out and shopping.

“Some people are worried the economic boost will be temporary,” said Hidekazu Uesonoda, a 52-year-old resident of nearby Nara. “I’m definitely going — it looks so American.”

The high hopes for the park are based in part on the Japanese being big fans of things American — films and theme parks, included.

Disneyland has scored enormous success in Tokyo, drawing 16.5 million people and revenue totaling $1.4 billion.

Universal Studios Japan brings together the top attractions from the theme parks back home, where Universal Studios in Orlando, Fla., draws 8 million people a year and 5 million a year visit the one in Hollywood.

“People have a wonderful affinity for movies. That’s the so-called power of Hollywood,” said Thomas Williams, chairman and chief executive of Universal Studios Recreation Group.

Satoshi Maekawa of Daiwa Research Institute in Osaka, who studies the regional economy, is optimistic visitors to Japan will flock to Osaka, about 250 miles west of Tokyo.

“The park holds tremendous appeal for a wide range of people,” Maekawa said.

Despite the company’s optimistic projections, a survey of 1,100 local businesses by Osaka Shinkin Bank showed 75 percent of respondents don’t expect the park to bring them better business.

Only slick Universal Studios will come out ahead, they said, leaving the rest of Osaka battling traffic jams at best.

Two hotels are to open near the park by July, and it’s unclear whether tourists will check out the other Osaka sights.

Early indications are that people will flock to the park in its first few months. But will they come back?

“Its success will depend on how many people it can bring back for the second time,” said JTB spokeswoman Norie Kamiwatari.

To do that, Universal Studios plans to add new attractions as often as every year, said Thomas Williams, chairman and chief executive of Universal Studios Recreation Group.

Kunihiro Kanayama, a chef who’s been pushing sushi inspired by Jaws — a roll of fried shark wrapped in seaweed — was upbeat about the future for his restaurant near Universal Studios.

“Jaws became a hit by eating people. We’re going to become a hit by having people eat Jaws, Kanayama said.