London Olympics 2012 Flashcards
For an air or investment project that you have studied name and locate is Descrive with speific detail the main features For an area that is undergoing economic change: Name the area Will the changes bring imporvements to quality of the environment and quality of life of local residents?
Political: Olympics Minister to
‘Regenerate one of the most deprived areas in the UK’
‘Spread the magic of 2012 outside the Olympic park so that all communities in the UK feel the benefits of hosting the London Games’
What Tony Blair said
‘The Olymic Games and Paralymic Games are not only a showcase of sporting excellence but also a celebration of different cultures’
Good Political effects (why the UK won the bid)
WHY THE UK WON THE OLYMPIC BID
- Focuses on young people around the world beeing inspired by Olympic sport
- The Olympics makes sport do a positive effects on peoples futures around the globe
- people around the world can see London , international awareness of London as a business and tourist location will increase
Number of jobs creased
12,000 new permanent jobs in Olymic park (+ thousands of temporary jobs)
Infrastructure improvements (money spent of transport inprovements)
£17bn, including extensions to the Docklands Light Railway and East London rail lines
Economic good effects (Multiplier effect)
Multiplier effect e.g. the building companies constructing the stadium will need to but concrete, steel and other materials from suppliers, creats jobs in the companies that supply these goods
Economic good effects MultiNational Companies- why they like it
- Inward investment, good transport links are attractive to MNC’s
- world’s largest financial centre
- bussiness centre
- low taxation (attracts over seas workers for MNC’s)
Number of people in london with languages (another reason why MNC find it attractive)
7.5 million people 300 different languages
Tourism a economic good effect
Uk could see a boost in Tourism and spectators will spend money on accommodation and restaurants in London
Amount of money boost because of tourism
£2.1 billion
Number of spectators
180,000
Bad political effects
The rest of Uk may not see a benefit pf having the games, almost all events in London
Economic bad effects
Local bussiness are required to move away because of the games, they cannot afford the cost of relocation
The Thames Gateway Forum survey number of people that said the Olympics would not be good for them (Economic bad effects)
26%
Number of Bussinesses required to move away (Economic bad effects)
212