The attraction's lure could rival the economic impact that Disney's Magic Kingdom had on central Florida nearly 40 years ago, according to a University of Central Florida theme parks expert told WKMG.

Duncan Dickson, an assistant professor at UCF's Rosen College of Hospitality Management, said "Wizarding World" will give Harry Potter fans a reason to visit Florida, providing a much-needed boost to Orlando-area hotels, restaurants and stores.

"Right now, it's just a small part of Islands of Adventure. They could grow this thing into huge proportions," Dickson said.

Florida's tourism industry is currently struggling because of the economy and the Gulf oil spill.

"This has the potential to have as big of an impact as the Magic Kingdom in 1971," Dickson said. "It gives people a reason to travel and experience something different."

The shopping opportunities are so extensive - from broomsticks ($250 to $300) to magic wands ($28.95) and Gryffindor scarves ($34.95) - that it feels at times like the whole park is for sale.

The Wizarding World is an ambitious bet for Universal, which is co-owned by a division of NBC Universal and private equity firm Blackstone. Contract details buried in Securities and Exchange Commission filings reveal how badly Universal wanted a piece of the franchise, which it describes as the most financially successful in film history. The contract gives Universal the rights to operate the park for nine years, with two additional five-year options. But the rights can be pulled should Universal fail to maintain minimum quality standards, invest enough capital or sell its controlling interest.

Universal has poured cash into the park the past few years, sinking up to $380 million in the Potter park and two other attractions - a ride themed on television's "The Simpsons" and a roller coaster on which guests choose their own soundtrack. The Potter section of Islands of Adventure alone reportedly cost more than $250 million.

Twitter was filled this week with rave reviews of what was being referred to in tweets as "wwohp." One fan who got access to the soft opening said it was the "best park experience" he had had in a long time; another said Forbidden Journey was so good she cried. "Thumbs up" to butterbeer and pumpkin juice, tweeted another.

"It was truly amazing; they brought the books to life," said Jacki Lenners of Flagstaff, Arizona, who attended an early preview of the park last month.

"Wizarding World" held a star-studded opening ceremony Wednesday night, complete with J.K. Rowling and the cast of the movies. Daniel Radcliffe, the actor who plays Harry Potter, lit up Hogwarts with a flick of his wand and reciting of a spell before a fireworks show illuminated the castle.

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