The London Olympics are set to boost business by £21bn, according to new research from Lloyds TSB Business. That’s more than double the £10bn estimate made at the time Britain won the bid to host the Olympic and Paralympic Games. And it’s not only London companies that are set to benefit from the sporting windfall.
Businesses nationwide and those in companies ranging from catering and construction to travel and transport could all take a share. The South East is due to take the biggest share at £8.6bn, with the Midlands, the North, and South West benefiting greatly at £3.2bn, £4.4bn and £1.7bn respectively. Northern Ireland, Scotland and Wales will share a £2.9bn bounty.
Stephen Pegge, head of communications at Lloyds TSB Business said: “London might be hosting the 2012 games, but it is important to realise that the economic ripples are continuing to spread and that opportunities are opening up across the country.
“There has been a lot of focus on the construction of the Olympic site, but the opportunities to get involved are much more varied than many might assume. Although the games last only a few weeks, the benefits will come before, during and long after the closing ceremony is over.”
© Crimson Business Ltd. 2007
