Last month’s Beijing Olympics were huge – but the London 2012 Games will be even bigger. They will be the largest ever staged with more than 10,500 athletes from 205 nations taking part in 300 events across 34 venues.
Some nine million tickets are expected to be sold and 20,000 media representatives will attend. But, while the public focus will be on medals and new world records during the Games themselves, South West businesses are being urged to look at them as an important way to take their growth to the next level by securing more public and private sector work.
Watching the Beijing Olympics gave us a glimpse of the sheer scale of the commercial opportunity. The most important events to take place in Britain for 50 years, the London 2012 Games will have a major impact on the national economy. The Games present one of the biggest procurement opportunities this country has seen for more than 50 years.
And yet, the £billions worth of contracts to be won is only part of the story - key industries and regions will enjoy huge further benefits.
Nick Weaver, Business Link spokesman said: “We must begin to think through the sheer scale of the impact that hosting the London 2012 Games will have on our region. Businesses must begin to pre-empt the opportunities – and get themselves into shape to meet these effectively.”
One obvious, crucial area for the South West economy is tourism. When Australia staged the 2000 Olympic and Paralympic Games, Sydney alone made in excess of £2billion from tourism.
In our region, tourism is one established sector that could reap great rewards from the London 2012 Games – not forgetting that all the sailing events will be held in the South West at Weymouth.
From the experience of the Sydney Olympics, an increase in visitor numbers can be expected before the Games as a result of an increasing focus placed on the UK – this will, of course, peak in the summer of 2012.
But, it isn’t just the tourism industry that will benefit. There will be increased demand in a wide range of sectors. The London 2012 Games will also serve as a useful platform for companies to access world markets and generate new business opportunities.
UK Trade and Investment, the Government’s exporting agency, is also promoting links for London 2012 suppliers looking to establish partnerships overseas, both for inward investment and exports.
Nick Weaver said: “Inevitably, it is the London 2012 Games that are focusing people’s minds – but local firms must also consider the broader opportunities. £billions of additional commercial benefits will be generated by peripheral activity including infrastructure developments and tourism.
“In planning for the London 2012 opportunity, businesses must be creative in identifying these opportunities and developing plans that allow them to capitalise on them.
“In helping local firms get in shape for the London 2012 Games, Business Link’s information and advisory teams are urging companies to focus in their planning on this wider opportunity.”
More info - London 2012 opportunities:
- Visit www.businesslinksw.co.uk/2012 and register with CompeteFor, the online matching service for Games-related opportunities.
- Download Business Link 2012 guide
- Watch the 2012 introduction video
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