London To Host Olympics In 2012 | Provides A Huge Boost For The Tourism Industry Says Deloitte's Alex Kyriakidis

London has been named the 2012 Games bid winner by the International Olympics Committee, beating the favourite Paris. What will happen now London has succeeded?

Dan Jones, Head of the Sports Business Group at Deloitte says: "There are a multitude of benefits for London hosting the Olympics, for the sport sector in particular, it provides a unique opportunity for the UK to develop world-class facilities to enable the country to host future first rate sporting events. These venues would also provide an inspirational training ground for future generations of athletes."

Alex Kyriakidis, Global head of Tourism, Hospitality and Leisure at Deloitte, comments: "As proven by previous host cities, the Olympics generate opportunities across the entire job market, which in turn, would be of significant benefit for the UK economy. It would also provide a huge boost for the tourism industry.

"In addition to the benefits the Olympics bring to the sporting arena, they will also provide the catalyst to the regeneration of one of London's most underdeveloped areas - the Lower Lea Valley - into a new London park.

"Olympic Park will act as a model for future sustainable communities throughout the UK. Around half of the Olympic Village will be made available as affordable housing following the games.

"Infrastructure and construction for Sydney 2000 cost $3.8 billion. The economic benefits are estimated at more than $3 billion for 1994-2006 and the number of visitors to the country has increased by 10% since the event.

"The Olympics helped secure Athens an improved image as well as raise the city's and the country's profile as a tourist destination. Capitalising on the success of the Games, Greece developed a strategic plan to help increase the percentage of gross domestic product (GDP) earned from tourism revenues from 18 to 40% by 2010.

"After hosting the 1992 Olympics, Barcelona tourism arrivals increased by around 40 % and Barcelona is now one of the leading conference and incentive markets in Europe.

"London 2012 is not just good for sport, the capital, or for the economy - it's great for the whole nation in the long term," adds Kyriakidis.

For more information please contact Sarah McFarlane.