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London 2012 Olympics has boosted UK economy

The London 2012 Olympics was extremely successful last year and reports have been released claiming that the World-wide sporting event has raised a total amount of just under £10 billion for the UK economy. The United Kingdom’s Prime Minister, David Cameron, believes that the London 2012 Olympics helped out many small businesses around the round nation and claimed that some are still in the being helped today. The London 2012 Olympics has been thought to have generated 31,000 jobs nation-wide reducing the total amount of unemployment.

The report which matched up where all of the money came from claimed that £2.5bn came from additional inward investment with the majority of the inward investments coming from outside of London. There were additional sales following the London 2012 Olympics related promotions by the Foreign Office and the UK Trade and Investment department which produced £5.9 billion. Additionally, the remaining £1.5 billion came from high value overseas contracts from countries all around the world giving the UK a total of £9.9 billion into our economy.

London 2012 Olympics helped the UK massively

The London 2012 Olympics broke records on TV getting the highest TV Audience since the famous Eastenders episode in 1987 which racked up 28 million viewers. The London 2012 Olympics Closing Ceremony just did a tad better than the Opening Ceremony as they recorded 24.46 million people watching the closing ceremony whilst 24.24 million people watched the opening. It would be surprising if there was anyone in the United Kingdom that did not know about the London 2012 Olympics as it was massively watched and brought in tourists from all over the globe.

Not only has the London 2012 Olympics helped the economy in the United Kingdom, but it has also helped the fitness of the country. Ever since the UK won the bid to host the 2012 Olympics, more than 1.4 million people in the United Kingdom have started playing more sports that are in the Olympics. The Olympics boosted so many of people’s spirit and made them want to do more sports, especially the one Team GB excelled in such as Cycling, Rowing and with the help of Andy Murray and Laura Robson, Tennis.

The business which came up with this report have estimated that by 2020, the London 2012 Olympics would have brought in around £40 billion into the United Kingdom. Olympics ambassador Lord Coe also commented, “Progress reflected in this report against each of the legacy commitments is a promising start. There can, however, be no room for complacency. Just as the Games took 10 years to win, plan and deliver, so legacy must be seen as a 10-year project to realise lasting change.”

Author Daniel Foster.
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