{"id":6348,"date":"2004-06-11T07:16:00","date_gmt":"2004-06-11T07:16:00","guid":{"rendered":"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces"},"modified":"2016-03-09T15:28:47","modified_gmt":"2016-03-09T15:28:47","slug":"terra-mtica-benidorm-theme-park-faces","status":"publish","type":"post","link":"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/","title":{"rendered":"Terra M\u00edtica, Benidorm theme park, faces bankrupcy."},"content":{"rendered":"<p>Benidorm&#8217;s large and controversial theme park Terra M\u00edtica is on the verge of becoming bankrupt and auditors say that it may have to close.<\/p>\n<p>Terra M\u00edtica is one of the most controversial projects undertaken by the Valencian Regional Government during their 8 years in power. Political sectors opposing the project questioned the demand for and viability of a major theme park in this area &#8211;  although Benidorm does fill up with families and young people in the high season, most of its tourists throughout the rest of the year are old age pensioners who are unlikely to get excited at the prospect of having a ride on Europe&#8217;s largest roller coaster. Despite the negative results of feasibility studies commissioned by the Government, the project went ahead and was financed with enormous amounts of public money, some private investment, and massive loans from the two big regional savings banks. A company was formed to oversee the running of the Benidorm theme park with the participation of all investors, including the Valencian Government, and the banks.<\/p>\n<p>Five years after opening, Terra M\u00edtica has financial debts of 114 million Euros and liabilities of 387 million euros. Visitor numbers fall far below those required for the theme park to be a viable business venture and, according to the <a href=\"http:\/\/www.levante-emv.com\/secciones\/noticia.jsp?pIdNoticia=26428&#038;pIdSeccion=19&#038;\">Levante<\/a>, this year&#8217;s audit (made public yesterday) warns that the financial state of Terra Mitica reflects uncertainty about the capacity of the company to continue in business. <\/p>\n<p>Last year the theme park had losses of over 71 million euros, even worse than the losses registered each year ever since Terra Mitica was opened, and this year it is unable to keep up with payments of loans owing to 22 different banks. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Benidorm&#8217;s large and controversial theme park Terra M\u00edtica is on the verge of becoming bankrupt and auditors say that it may have to close. Terra M\u00edtica is one of the most controversial projects undertaken by the Valencian Regional Government during their 8 years in power. Political sectors opposing the project questioned the demand for and viability of a major theme park in this area &#8211; although Benidorm does fill up with families and young people in the high season, most of its tourists throughout the rest of the year are old age pensioners who are unlikely to get excited at <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6348","post","type-post","status-publish","format-standard","hentry","category-sin-categoria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Terra M\u00edtica, Benidorm theme park, faces bankrupcy. - News from Spain<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terra M\u00edtica, Benidorm theme park, faces bankrupcy. - News from Spain\" \/>\n<meta property=\"og:description\" content=\"Benidorm&#8217;s large and controversial theme park Terra M\u00edtica is on the verge of becoming bankrupt and auditors say that it may have to close. Terra M\u00edtica is one of the most controversial projects undertaken by the Valencian Regional Government during their 8 years in power. Political sectors opposing the project questioned the demand for and viability of a major theme park in this area &#8211; although Benidorm does fill up with families and young people in the high season, most of its tourists throughout the rest of the year are old age pensioners who are unlikely to get excited at\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/\" \/>\n<meta property=\"og:site_name\" content=\"News from Spain\" \/>\n<meta property=\"article:published_time\" content=\"2004-06-11T07:16:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-03-09T15:28:47+00:00\" \/>\n<meta name=\"author\" content=\"euroresidentes\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"euroresidentes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minuto\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/\",\"url\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/\",\"name\":\"Terra M\u00edtica, Benidorm theme park, faces bankrupcy. - News from Spain\",\"isPartOf\":{\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/#website\"},\"datePublished\":\"2004-06-11T07:16:00+00:00\",\"dateModified\":\"2016-03-09T15:28:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/#\/schema\/person\/3079cc0ad7acb04ec2f26d72f31add9b\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Terra M\u00edtica, Benidorm theme park, faces bankrupcy.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/#website\",\"url\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/\",\"name\":\"News from Spain\",\"description\":\"Euroresidentes\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"es\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/#\/schema\/person\/3079cc0ad7acb04ec2f26d72f31add9b\",\"name\":\"euroresidentes\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"es\",\"@id\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/340321f0c1d3581e26d3ff649a9b0467?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/340321f0c1d3581e26d3ff649a9b0467?s=96&d=mm&r=g\",\"caption\":\"euroresidentes\"},\"url\":\"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/author\/euroresidentes\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Terra M\u00edtica, Benidorm theme park, faces bankrupcy. - News from Spain","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.euroresidentes.com\/euroresiuk\/news-spain\/terra-mtica-benidorm-theme-park-faces\/","og_locale":"es_ES","og_type":"article","og_title":"Terra M\u00edtica, Benidorm theme park, faces bankrupcy. - News from Spain","og_description":"Benidorm&#8217;s large and controversial theme park Terra M\u00edtica is on the verge of becoming bankrupt and auditors say that it may have to close. 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