London 2012 helped UK economy

The London Games 2012 has given the UK economy a boost of approximately £10billion, a report says

By Nicole Hamer |

12:49 19 July 2013

A report has said that because of the London 2012 Games the economy in the UK has had a boost of £9.9billion in investment and trade, it has emerged on Friday, 19th July, 2013.

The report from the government says contracts, investment from abroad and extra sales with regards to the past 12 months have come about due to the London Games.

The report is entitled; ‘Inspired by 2012: The legacy from the London 2012 Olympic and Paralympic Games’.

 

Not only this, the report also says that the London Games has had an effect on sport also.

It said as well, that those individuals who offered to help the Games for free had an encouraging effect in regards to others pursuing comparable posts in their communities.

PM David Cameron has said that businesses across the country were “harnessing the Olympic momentum and delivering the lasting business legacy of the Games”.

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

Vince Cable, Business Secretary, is reported by the BBC saying: “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.”

Mr. Cable commented that there was an ‘upward estimate’, and that by the year 2020 the plus side from the Games for the UK could potentially increase to as much as £40billion.

The 2012 Olympics and Paralympics in London last year were watched by many people.