Eight out of ten businesses expecting financial boost from London 2012

[richard]

Eight out of 10 large UK companies are anticipating an economic boost from London 2012, according to new research by Deloitte, the professional services business.

The report – based on a survey of 200 companies with 500 employees or more, two-thirds of which are London-based – suggests that staging the Olympic Games should provide the ailing UK economy with a short-term stimulus at a time when it is badly needed.

However, companies still harbour Games-related concerns, with 42 per cent citing staff "unavailability" as a worry, 41 per cent pinpointing security and 32 per cent transport disruption.

Deloitte says that companies are starting to consider steps they might need to take to mitigate the impact of these issues.

These measures include reviewing holiday policies (43 per cent), reviewing flexible working (33 per cent) and installing screens on working floors to allow staff to watch their favourite events (55 per cent).

Heather Hancock, lead London 2012 partner at Deloitte, which is itself the London Games' official professional services provider, said: "Businesses in previous host cities have typically underestimated the impact of the Olympic and Paralympic Games.

"It appears that businesses in London and around the UK are determined not to make the same mistakes.

"Fifty-four per cent of respondents to Deloitte's most recent CFO survey predicted a 'double dip' recession this year.

"We all want to minimise that risk – so it's even more important that business is prepared to sustain its usual performance, and ready to take advantage of any boost from the Games.

"Whilst the precise economic impact of the Games remains a topic of much debate, what is certain is that the best prepared and most agile businesses will grab the biggest share of the upside."

Looking further ahead, Hancock added: "With future Olympic Games and FIFA World Cups being awarded to emerging economies such as Brazil, Russia and Qatar, there is significant potential to capitalise on the experience developed around London 2012.

"However, as with the Games themselves, only those well prepared and ready for the opportunity will be in a position to take advantage."


Source
By David Owen
insidethegames.biz | Olympic, Paralympic and Commonwealth Games News

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