London Olympics 2012 Business Opportunities and Benefits
In the lead up to the London 2012 Olympic and Paralympics there are extensive business benefits and opportunities for companies looking to invest in the Thames Gateway.
Invest Thames Gateway’s recent report, Home to Big Ideas: The Impact of Major Events on Inward Investment, which looks at Barcelona, Atlanta, Sydney, Beijing and the Winter Olympics in Turin and Vancouver, plus the World Cup in France and the 2010 World Cup in South Africa draws far-reaching conclusions about the positive business benefits of hosting a major global event.
The report identifies a number of advantages that companies in the Thames Gateway region have begun to experience or anticipate in connection with the London 2012 Olympics. The 2012 Olympics and Paralympic Games will create a step change for the Thames Gateway brining a global market and universal brand to the existing redevelopment and investment programme. Companies that take the opportunity will be part of a new agenda for world cities and their regions.
“First movers” to the region will benefit from a huge range of business advantages, from new sites, space and amenities, to more competitive supply-chains to exceptional world class infrastructure and global exposure. These companies are optimistic that the 2012 Olympic Games will provide the unique spur for business development and economic growth.
The Games alone are estimated to contribute £5 billion to the London economy and represent a huge opportunity for international business. Over 70,000 business contracts will be awarded by the time of the Olympic and Paralympic Games, and many have already been won by overseas companies. Successful businesses will benefit from worldwide exposure – for years before and after the event.
By 2012, when London will host the Olympic and Paralympic Games, the London economy is forecast to have grown by more than £50 billion, and by 2020, it’s expected to be the 4th largest city economy in the world.
Key London Olympics Facts
- Companies and institutions that have already invested in the Thames Gateway are experiencing benefits from the London 2012 Olympics – Westfield’s major development in Stratford City has been accelerated by the 2012 Games
- The 2012 Games will make the Thames Gateway more visible and encourage massive co-investment that has huge potential to change perceptions and boost enthusiasm
- By 2020, the Thames Gateway has the potential to be a truly successful new business and residential region – London 2012 brings the promise closer