British economy struggles to secure Olympics boost
With the London Olympics wrapped up yesterday, analysts said Britain's recession-hit economy was unlikely to have won a major boost from the Games that have been a triumph for the nation's athletes
While Britain’s construction sector benefited hugely before the Olympics, experts have said the 17-day sporting spectacle had not delivered significant financial rewards and neither was it expected to in the months and years ahead.
Mary Rance, chief executive of tourism body UKinbound, said the Olympics which have cost British taxpayers £9.3 billion ($14.5 billion) to stage have failed to lift her sector. “From a positive perspective, the Olympics have been a catalyst for huge investment in infrastructure in London,” Rance said.
“All the signs are that the Olympics have not delivered additional visitors to London and the UK,” she added.