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The Universal Orlando Resort is reported to have approved some $1.5 billion of spending on new attractions, as it aims to build on the success of the Wizarding World of Harry Potter.

MiceChat reports that less than half of the available funds have been allocated to two major projects at Universal Studios Florida: the addition of a clone of Universal Studios Hollywood's Transformers: The Ride - 3D in 2013, and the creation of a second, London-themed Harry Potter land. Universal Orlando hopes that this will help draw guests to both of the resort's parks for multi-day trips, rather than making single-day visits to the Wizarding World at Islands of Adventure.

According to the report, plans for the remaining funds have yet to be finalised, although they are expected to cover a 10-year timescale. Universal Orlando has already revealed plans to open a new hotel, the Cabana Bay Beach Resort, in 2014.

The level of spending at Universal Orlando will match that at sister property Universal Studios Hollywood, which recently finalised plans for its own $1.6 billion evolution plan. This will include two new hotels and a clone of the Wizarding World of Harry Potter.

For full details of the latest updates to the Universal Orlando Resort, check out the detailed report over at MiceChat.

You can keep up to date with the latest confirmed and rumored opening dates for new attractions through Theme Park Tourist's "New Attraction Watch" section, and by signing up for our weekly newsletter.

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