Budapest’s iconic Ferris wheel could disappear?

The Budapest Eye is undoubtedly one of the most widely-loved attractions of the Hungarian capital. With more and more tourists coming to Budapest, the number of people using the Ferris wheel on Erzsébet Square is increasing. As a result, the head of the operating company again sees the possibility of a new, even bigger wheel in a few years’ time.

The iconic the Budapest Eye

The giant wheel of the capital, the Budapest Eye, has been in operation since 2013, and over the years it has become a symbol of the city. According to vg.hu, its visitor numbers have exceeded three million over the years. Last year’s turnover already surpassed the 2019 visitor numbers by 2%. With such a stable demand, the head of the operating company sees another chance for a new, even bigger wheel in a few years.

A new one in Budapest soon?

The plan to purchase a Ferris wheel is not new: instead of the currently rented Belgian structure, Óriáskerék Ltd. (Ferris Wheel Ltd.) has been planning for a long time to order a wheel that can be produced exclusively to order, in about two years. Depending on the type, it would be possible to buy a structure of similar size and quality to the current one for between EUR 9 and 14 million. The price of a wheel with a diameter 8-10 metres larger starts at EUR 12 million, vg.hu reports.

“Even during the pandemic period, when the Ferris wheel was hit by closures and travel restrictions, it cost hundreds of millions of forints to keep the Ferris wheel in operation, which the owners of the operating company had to make up in order to restart the structure later,” Edina Banka, the managing director of Óriáskerék Ltd. told vg.hu.

The new wheel may differ not only in capacity, but also in other ways from the current wheel, which has been operating reliably, safely and without disruption since 2017, when it replaced the previous Ferris wheel on Erzsébet Square. The greatest need is for a modern, high-tech lighting system to paint the Ferris wheel with tasteful light.

Ferris wheels in Europe vs Budapest Eye

The main advantage of buying Budapest’s own equipment is that, after a payback period of around 10 years, a well-maintained structure that has undergone a complete overhaul every 10 years could be in operation for another 15 years. According to vg.hu, Budapest’s Ferris wheel is exactly the same size as the Vienna one, but it is still cheaper to buy a ticket for Budapest.

For comparable European Ferris wheels, the fare is more than EUR 13, while for Budapest Eye, it is EUR 11-12 depending on the exchange rate.

Read also:

• Incredible VIDEO, PHOTOS: Breathtaking artistic performance on Budapest Eye
• Is Budapest about to have its own Ferris-wheel?