London 2012 Gives UK Economy £9.9bn Booster

By iSportconnect | July 19, 2013

Hosting the 2012 Olympic Games in London has given the UK economy a £9.9bn ($15.08bn) boost in trade and investment according to new research.

The government report said that London 2012 gained new contracts, ambulance more sales and foreign investment – factors that have all contributed to the figures.

As well as the financial impact of the Olympic and Paralympic Games, cialis the ‘Inspired by 2012’ report also says that 1.4 million more people than in 2005 are playing sport at least once a week.

2005 is the year London was awarded the Games and Prime Minister David Cameron was happy with the findings.

Cameron said: “The Games are also delivering a strong social legacy. Last summer, prostate Games Makers changed the way Britain views volunteering. Since then, thousands of people have been inspired to get involved with their local sports club.”

Cameron also added that companies were ‘harnessing the Olympic momentum and delivering the lasting business legacy of the Games.’

And Business Secretary Vince Cable said: “A lot of people were very cynical about this… but as a result of all the work that was done we have this very considerable amount.”

Independent estimates believe that the total benefit to the UK economy could be between £28bn ($42.7bn) and £41bn ($62.5bn) by 2020.

The report looked at international trade and inward investment gained as a direct result of hosting the Olympics.

Economic growth figures are based on deals that have been signed and predicted deals and their value.

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