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Olympics fail to Provide Economic Boost

Analysts have delivered a blow to the hopes that the Olympics would provide the UK with a major economic boost, after it was claimed that the event had not returned significant financial gains to the UK, after £9.3bn was spent in preparing for, and running the games.

The construction sector did reap huge benefits from the preparation for the Olympics, and the games also provided a good chance for the security sector to benefit, but this was hampered by G4S, who failed to provide the necessary staff and subsequently cost the tax payer more as public sector staff were deployed.

The tourism sector was another sufferer, and although the new infrastructure in London was expected to attract more visitors, it is believed that tourism actually fell by around 30pc over the course of the games. This will be predominantly down to visitors staying away amid fears London’s transport infrastructure would not cope under the increased pressure higher levels of commuters would bring.

Chief executive of tourism body UKinbound, Mary Rance, added: “All the signs are that the Olympics have not delivered additional visitors to London and the UK. In fact it may end up that numbers have fallen by well over 30pc”.

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