Earlier this month, the Brihanmumbai Municipal Corporation announced its biggest ever budget for the upcoming fiscal, with a total outlay of Rs 74,427 crore. Part of this budget was a proposal to erect a Mumbai Eye in the city — a long standing project that has seen its share of delays, thanks to political shifts and continuous feasibility studies.In his budget speech, BMC Commissioner Bhushan Gagrani said the project would be in line with the United Kingdom’s London Eye and would be undertaken under Public-Private Partnership. The Mumbai Eye is expected to attract 70 lakh visitors per year, according to previously reported estimates. This compares to the London Eye’s 35 lakh visitors per year. That is double the amount of visitors. With the project still being in proposal stages — the location is and has been a focal point of discussion over the years — there are nary projections on how much revenue it could generate. However, a look at the London Eye’s revenues could give some insights. The Elder Sister From UKThe London Eye was eighth in a list of best loved landmarks of the world in 2023, compiled by luggage storage firm Bounce. The ticket price for the 30-minute ferris wheel ride, which gives a panoramic view of the city, was rounded off to 26 pounds by the study. Assuming that the London Eye attracts 35 lakh visitors a year, the attraction could be earning approximately 91 million pounds a year. But this is a guesstimate.Merlin Entertainments Ltd., the company that operates several theme parks and attractions around the world, — including the London Eye — reported a loss of 214 million pounds in 2023, after 210 million pounds of exceptional non-cash impairment and 36 million pounds of debt refinancing charges. Its adjusted profit before tax stood at 32 million pounds. While, revenue stood at 2,125 million pounds during the fiscal.Its gateway attractions — under which the London Eye falls — delivered revenue growth of 23% year-on-year to 748 million pounds in 2023, “primarily reflecting the demand of international tourism in gateway city clusters, most notably London, where nearly one in every four visitors to the city came to a Merlin attraction”, the company said.In fact, the company also announced its takeover of the Orlando Wheel in 2023, in line with a “strategic focus” on building major attraction clusters in key tourist cities. The takeover “serves to replicate our successful London Gateway formula, whereby we have clustered four of our branded attractions alongside the iconic anchor that is The London Eye”, Chief Executive Officer Scott O’Niel had said.The London Eye seemingly continues to be Merlin Entertainment’s pride. BMC Budget 2025: Free Healthcare, BEST Grant, Tax On Slum Business And More — 10 Key HighlightsThe ‘Experience Economy’ In 2023, Indians spent 29% of their salaries on discretionary expenses, according to a report released by Perfios and PwC India on Feb. 19. Previous analysis of major events, like the Coldplay concert, have also indicated that Indians are increasingly giving into the experience economy. Attractions and monuments also continue to rake in revenue. In 2023, the Statue of Unity reportedly saw a record footfall of 50 lakh people as of October. The Taj Mahal was a major revenue generator for the Archeological Survey of India between 2020 and 2024, bringing in over Rs 91 crore from ticket sales.In this backdrop, the Mumbai Eye may just see a lot more than the city skyline. With a key focus on education, the BMC budget for 2025-26 was packed with welfare scheme expansions and infrastructure project plans for the city. It remains to be seen just how much of the civic body’s vision for Mumbai pans out.Indian Travel Industry In 'Top Gear', Says Jefferies, Reiterates IndiGo As Top Pick. Read more on Nation by NDTV Profit.