Lloyds Banking Group

UK economy set to benefit from £16.5 billion ‘Olympic effect’

03 July 2012

  • £16.5 billion GDP contribution expected from Games, its build-up and legacy
  • Construction and tourism are the key sectors driving this increase
  • More than half the GDP impact from tourism and construction is being generated by small and medium sized businesses.
  • First five legacy years set to provide £5 billion of games-related GDP
  • ‘Happiness effect’ equivalent to a £165 gift to each of the UK population
  • Games set to support 354,000 years of employment nationwide
  • Economic impact of the Games can be seen across the UK

The UK economy is set to benefit from £16.5 billion of GDP, as a direct result of the London 2012 Olympic and Paralympic Games and its legacy, according to a new study from Lloyds Banking Group.

Read The Economic Impact of the London 2012 Olympic & Paralympic Games

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