ECONOMIC GROWTH

Report questions Olympic Games' economic legacy

Experts have questioned government claims that the 2012 London Olympic Games could deliver a long-term economic boost worth as much as £41bn by 2020.

Experts have questioned government claims that the 2012 London Olympic Games could deliver a long-term economic boost worth as much as £41bn by 2020. Scepticism at the estimates follows the publication of a joint report issued by the Government and the Mayor of London examining the benefits of London 2012 in regenerating east London, driving trade and inward investment, encouraging sport and healthy living and increasing volunteering.

Issued on 19 July, in advance of the first year anniversary of the Games, the report suggests the economic impact is between £28–41bn in gross value added (GVA) and between 618,000 to 893,000 years of employment. Figures suggest £9.9bn of international trade and inward investment has so far been won off the back of the Games and related promotional activities, outstripping the estimated £8.9bn costs of hosting the 2012 Olympic Games – which were delivered within budget and on time.

Jonathan Werran

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