POSTED: July 27th 2014

London 2012 legacy creates an economic boom for businesses

CHAD WISE / Sports Features Communications

(SFC) The British Government released a report Friday outlining the positive legacies being left behind from the London 2012 Olympic Summer Games, which kicked off two years ago.

“Ensuring a positive legacy from this Olympic Games for a Host City and country is very important for the IOC,” International Olympic Committee President Thomas Bach said. “This is why I am delighted to see that our British partners have succeeded in maximising the legacy of London 2012 across a number of different areas.

“As an Olympian, I saw that London 2012 was a Games built around the athletes. As IOC President, I see that London and Britain have also understood that the Games can be a catalyst for positive, long-term economic, social, and sustainable legacies. These figures confirm that the Olympic Games can provide tangible benefits for a lot more than just 16 days of competition.”

The four-year target of £11 billion in trade and industry was surpassed in half the time and currently sits in excess of £14 billion, while British businesses have been able to secure bigger contracts, additional sales, and foreign investment following the Games.

“Part of our long-term economic plan is about promoting every part of our country to the world and Glasgow’s Commonwealth Games will give us another fantastic platform to do this,” British Prime Minister David Cameron said. “It follows on from London 2012, which was not just an amazing sporting event, but also a great opportunity to secure a lasting economic and sporting legacy for the whole U.K.”

According the British Government’s report, international visitor rates have increased six percent to 33 million people thanks to the Olympic Games. Since the opening of the Queen Elizabeth Olympic Park prior to the Olympic Games in 2012, more than one million people have visited the site, while the Athletes Village has been converted to 2,800 homes.

Increased participation in sport was also reported, with 15.6 million people over the age of 16 playing sport at least once a week, up 1.5 million people from 2005. London 2012’s ‘Join In’ volunteer campaign also helped more than 10,000 events during the summer of 2013.

This report shows just how much is happening across the country to keep the spirit of London 2012 alive two years on from the Games,” former London 2012 Chairman Sebastian Coe said. “The country has taken the inspirational performances of our athletes and the uplifting public spirit seen during those few weeks in 2012, and built on it, whether through community projects, volunteering, and new sporting facilities, or through new ways of working together and improved trade relationships.

“This report celebrates some of those achievements, but there are many more examples happening all across the country. I look forward to the next 12 months of this legacy journey.”

“By common consent, London wowed the world when it staged the 2012 Olympic Games,” Mayor of London Boris Johnson said. “Two years on from that golden summer we are accelerating the transformation of Stratford and beyond.”

Keywords · London 2012 · Britain · United Kingdom · UK · Great Britain · International Olympic Committee · IOC · Thomas Bach · Sebastian Coe · Boris Johnson · Queen Elizabeth · Olympics · Olympic Legacy · London ·

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