Olympics to boost tourism spend by £1.2bn
The 2012 Olympics will boost tourism spend in the UK by £1.2bn in the 10 years after the Games, according to a new report.
Business Monitor International’s United Kingdom Tourism Report claimed the ‘legacy effect’ of the Olympics could last for up to a decade.
It said that, according to research by VisitBritain, VisitLondon and Oxford Economics, the capital alone would earn an additional £880m from the Games and the country as a whole would benefit to the tune of £1.2bn.
After dropping in 2009 to US$27.2m in 2009, tourism expenditure is expected to climb back up in 2010, reaching an estimated US$28.38m by the end of the year, it said.
BMI forecasts expenditure by tourists in the UK to continue to increase to nearly $40m by 2014.
In 2010, tourism expenditure is forecast to account for 2.01 percent of GDP. This is expected to increase to 2.40 percent as a result of the Games. Direct industry employment, which in 2009 stood at 1.43m, is also forecast to increase.
Europe, which is the UK’s main source for inbound tourism, is forecast to account for 24.43m tourists in 2010, rising to 30.98m by 2014.
In 2010, 4.37m tourists are expected to visit the UK from North America, while 3.4m will come from the Asia Pacific. By 2014, Asia Pacific and North American arrivals are forecast to be level at about 4.45m arrivals each.
In terms of individual countries, the US was in the first place in 2007, but has since been overtaken by France, which is forecast to provide 4.15m tourists by 2014.
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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