Olympics pays off early for UK economy

A four-year target of raising £11bn for the UK economy from deals signed during the London Olympics has been surpassed two years early, the British Prime Minister announced.

Olympics pays off early for UK economy

A four-year target of raising £11bn for the UK economy from deals signed during the London Olympics has been surpassed two years early, the British Prime Minister announced.

Contracts, sales and foreign investment linked to UK Trade and Industry’s (UKTI) British Business Embassy during London 2012 have passed £14bn this year, the second annual report on the legacy from the Olympic and Paralympic Games said.

The success demonstrates how hosting major sporting events can generate economic benefits, David Cameron said, as the Commonwealth Games opens in Glasgow today.

The report found £5.9bn of additional sales by UK companies as a result of UKTI activity, £3.58bn of Olympic-related access to high value overseas projects, and £4.72bn of additional foreign direct investment into the UK, with 55% of the projects outside London.

more courts articles

Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van
Man in court over alleged false imprisonment of woman Man in court over alleged false imprisonment of woman
Coronation Street actor William Roache (91) given three months to settle tax debt Coronation Street actor William Roache (91) given three months to settle tax debt

More in this section

Nottingham City Centre Stock Irish staff at the Body Shop wait for wages as retailer shuts stores in the Republic
Ryanair comments on Norwegian Ryanair boss O'Leary's spat with Transport Minister over Dublin Airport escalates
Lord Rothschild death Tony Blair leads tributes on death of financier Rothschild at age 87
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited