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Economic Impact of the 2012 Olympic Games in £ ondon

Economic Impact of the 2012 Olympic Games in £ ondon. Presented by Sebastian Hahn. Overview. State of the Economy Cost Benefit Analysis The Thames Gateway Benefitting Industries Economic Impact of past Olympics Questions. State of the Economy. 2 nd recession since the year of 2008

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Economic Impact of the 2012 Olympic Games in £ ondon

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  1. Economic Impact of the 2012 Olympic Games in £ondon Presented by Sebastian Hahn

  2. Overview • State of the Economy • Cost Benefit Analysis • The Thames Gateway • Benefitting Industries • Economic Impact of past Olympics • Questions

  3. State of the Economy • 2nd recession since the year of 2008 • Annual disposable income per capita fell by 3.3% between 2006 & 2011 • Budget deficit at 11% of GDP • Austerity Plan - Cuts in public spending & services - New wave of tax hikes

  4. GDP Growth Rate

  5. Cost Benefit Analysis Cost Benefit $15 billion in revenues $3.3 billion from tourism Improved Infrastructure Regenerated Stratford land 200,000 new short-term jobs 5,000 new housing units • $14 billion price tag • $4 billion original estimate • Soaring security costs • Higher reclaiming costs • Redirection of funding • Lack of long-term viability

  6. Thames Gateway

  7. Benefitting Industries • Construction and Engineering • Travel and Tourism • Hospitality & Entertainment • Environmental Technologies • Finance & Business Services • Education & Research • Creative Industries

  8. Construction & Engineering • In 2011, construction accounted for 5.4% of GDP and 8.5% of total employment • Olympic Park site contributed $3.6 billion • Main venues contributed $2.1 billion • Athlete’s village contributed $6.3 billion • Following the Olympic Games, 40,000 homes will be built in the vicinity of the Olympic Park • By 2017, construction will contribute $20 billion

  9. Construction & Engineering

  10. Past Olympic Games

  11. Questions

  12. A Special Thanks to

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