London 2012 Olympics

From Business to Charities, from National Bodies to Local Government – all unanimous in applauding London’s Olympic bid success.

Stakeholder Response: Transport for London

Bob Kiley, London’s transport commissioner said:

"I am delighted that London has been given the honour of hosting the 2012 Olympic and Paralympic Games and that the IOC recognised that the city can and will provide the transport to host an outstanding Games.

"Modern, reliable, safe and cost-effective transport for the Games will be in place well before 2012 and we will ensure that athletes, the Olympic family and spectators alike will get to every venue, on time, every day of the Games.

"I would also like to congratulate the Mayor, and the entire 2012 bid team, in their efforts to bring the Games back to London.

"Over £17bn will be spent on transport in London by 2012. This includes long term funding agreed by Government which enabled the Mayor and Transport for London to embark on a £10bn five year investment in the Capital's infrastructure and accelerate projects such as the East London Line extensions to be ready well before 2012.

"Work is well underway to deliver this and other major transport improvements on budget and in good time for 2012. The DLR City Airport extension due to open by December 2005, a seventh carriage on the Jubilee Line carrying an extra 3,000 people per hour by January 2006 and Europe's biggest engineering project, the £5.2bn Channel Tunnel Rail Link operational by Spring 2007." 

Stakeholder Response: The Prince's Trust

 

 

Martina Milburn, chief executive of the Prince's Trust said: "This is a fantastic chance for young people to get more involved in their communities and to take pride in their country. We know first-hand how sport can inspire young people to reach their potential. The London 2012 Olympics will provide new opportunities for our young people to learn vital skills and access new jobs."

 

Stakeholder Response: Construction Products Association

 

 

Commenting on the news, Allan Wilén, economics director of the association said:  "Winning the Games is a tremendous boost to the capital's economy and provides a heritage of improved sports and transport facilities.  The London bid set out an impressive £10 billion programme for sports stadia, accommodation and infrastructure investment, with the construction bill alone expected to be £2.5 billion.  Building work has, in fact, already started on two key venues - the £70 million Aquatics Centre and the £30 million Velopark.

"The Olympic Village itself will make use of an already planned £650 million public-private regeneration scheme and will be converted from Olympic use to become a mixed-use community of 3,600 new apartments and town houses, which will deliver badly needed housing to the east of London.

"The new challenge for the Olympic bid team and the construction industry is to ensure the timely and cost effective delivery of the promised facilities. Construction products manufacturers are ready to build on the Egan agenda and work together in a truly integrated way with the client, designers and contractors to realise this huge programme of much needed investment and regeneration in our CapitalCity."

Stakeholder Response: British Retail Consortium

 

 

London Retail Consortium spokesperson commented:

"The LRC are delighted with the news. Having the Olympic games in London is sure to generate a lot of excitement and a certain 'feel good factor'. Retailers generally benefit from this feel good factor as it usually means people have a positive attitude towards everything - including spending their money.

"Naturally, retailers in the capital would benefit most and such an increase in visitors to London would in itself boost sales and general activity on the high street. But often, the feel good factor that comes with a high profile sporting event like this, can be good news for retailers all over the Country, not just in London."

How much extra is the Olympics likely to generate for the retail sector?

Looking at Euro 2004 as an example...

Euro 2004 generated approximately an extra £200 million for the retail sector as a whole - an extra £80 million a week. (Based on BRC Retail Sales Monitor data)

This total incorporates the 'feel good factor' that boosts sales and activity generally and also increases in sales of food, drink, flags, t-shirts, souvenirs etc. The majority (£160mn) is from food and drink sales.

Looking at Capital Economics figures...

The Olympic games is likely to generate an extra £521 million to the retail sector.

Capital Economics say that hosting Olympics will boost economic output by £9.3 billion. Retail accounts for 5.6% GVA =  £521 million extra for the retail sector.

 

Stakeholder Response: Association of London Government



Association of London Government's Olympic lead member, Cllr Ruth Cadbury, said:

"This is fantastic news. It is testament to the hard work put in by the London 2012 team, with the full support of the boroughs, that we have won the race to host the greatest sporting spectacle in the world.

"I am proud of the efforts that have gone into this excellent bid and the support it has received from millions of people from across the country.

"This success provides a win-win situation for everyone. People across London will be able to see world class athletes in action virtually on their doorstep, and the Games will generate a huge feel good factor across London and throughout the UK.

"It's also a great way to encourage more people to get involved in sport at a grass roots level and adopt a healthier lifestyle.

"Thanks to the foundation of a unique planning process set up by the boroughs involved in the Games a 126 hectare Olympic Park will be created. This will include a top class multi purpose stadium, world class aquatic centre, and a three-arena multi sports complex.

"The lives of ordinary Londoners will also be hugely improved with 9,000 new homes being built and billions of pounds of investment in the capital's transport system. As well as benefiting from the new sporting facilities the country's economy will also receive a major boost through jobs, services and tourism.

"Up to 70,000 volunteers will also be trained to work on the Games, giving them new skills to help develop their future careers. London's diversity will also be celebrated in a four year culture programme prior to the Games.

"The race to host the Olympics may have been won, but now we are about to start on the marathon process of staging a Games that will last in the minds of the billions of people who will watch them."

Stakeholder Response: Local Government Association

 

Cllr Chris White, chair of the Local Government Association's regeneration board, said:

"A successful Olympic Games will not only bring significant regeneration to a relatively deprived area of the capital, but should also be capitalised upon to build a legacy that benefits the nation as a whole."

"The opportunities for business and tourism are clear and the Games will bring with them real investment in our sporting infrastructure in the form of fantastic new facilities. The main stadiums will be built in the capital but the development of further training camps across the country represent an opportunity to establish regional sporting centres of excellence".

"However, the long term legacy of the Games will be the fostering of a real interest and excitement in sport. Sport plays a central role in creating stronger, more sustainable and healthier communities, helping to build community spirit, creating employment and giving young people a purpose in life. This is a legacy from which the UK as a whole will be able to benefit."

Cllr White also made clear the important part that local councils have in ensuring that this legacy is long-lasting. He added: "With the bid won, it's now down to councils to step up to the mark and encourage people to get down to their local leisure centres, playing fields and swimming pools.

"We must capitalise on the opportunity to invigorate of whole generation of youngsters and build a legacy that will aid regeneration for decades to come."

Stakeholder Response: Institute of Directors

 

Miles Templeman, Director General of the Institute of Directors (IoD), said:

"Following London's successful Olympic 2012 bid the whole nation can look forward to an economic upswing."

"This really is excellent news. The IoD has been behind London's bid from the outset and is delighted that the Games will be coming to London in 2012. This is not just good news for business in London but for the whole country. Long-awaited regeneration of parts of London will now proceed, including the much needed upgrade of the public transport system."

Stakeholder Response: Finance & Leasing Association

The Finance & Leasing Association is delighted that London will host the 2012 Olympics.

Martin Hall, FLA Director General, comments, "This is fantastic news for London, the UK and the finance and leasing industry. The high level of investment needed to mount the 2012 Olympics, has got to be good news for asset finance. The sheer scale of the development, will provide tremendous opportunities for FLA members. Across the board, construction, technology, transport, service sector, community regeneration - every project will need flexible, competitive and secure financing - all of which asset finance can deliver on.

"This is our chance to show the world that the UK still leads the field on large scale initiatives and I look forward to the leasing industry playing its part. We support the Olympics as a London-based organisation and as the industry's representative."

Stakeholder Response: Rotary International

 

 

Mike Webb President Rotary International in Great Britain and Ireland said "I am delighted that the 2012 Olympic and Paralympic Games will be coming to London.

 

"I  congratulate the Mayor, Lord Coe and the entire 2012 bid team, in their efforts to bring the Games back to London and  assure them of the support of our membership in helping the organisers to make these games the very best ever.

 

"We know first-hand how sport can inspire young people to reach their potential through Rotary’s support for Sports Aid and through the Rotary Disabled Games.

 

"The London 2012 Olympics will provide new opportunities for our young people to participate at the highest level and learn vital skills for life.

 

"We will draw on the experience of the help given by Rotarians in the planning, organising and running of the Athens games and we would be willing to assist in a similar way for the 2012 Olympics."