News
London 2012 Olympic Games and Paralympic Games could bring £600m to East of England
Date: 03 August 2006
An economic study of the potential effects of the 2012 Games on the East of England shows that the gross benefits to the region could exceed £600 million.
The ‘Economic Impact Study of the London 2012 Olympic Games and Paralympic Games’ commissioned by the East of England Development Agency (EEDA) and partners (that include the Greater Essex Prosperity Forum), indicates that there is the potential for economic benefits in the areas of tourism, business, culture and sport.
In addition, it suggests that The London 2012 Games should be used as a catalyst to drive forward the economic, social and cultural agenda for the East of England, as it provides an opportunity to raise the region’s aspirations.
While the study highlights the potential benefits of the 2012 Games, it also stresses that the East of England's proximity to them alone will not guarantee benefits, and success depends upon appropriate regional interventions. Fortunately, this has always been part of the region’s strategy, and plans are already firmly in place to ensure that these benefits are realised.
The study indicates that Essex is set to benefit from the expecetd economic impact with estimates of a share of approaching 25% of the regional total.
A full copy of the economic impact study is available from the EEDA website by clicking here.
