The harvest of the London Olympics

  This year’s Olympic Games in London, England, are among the top three most expensive in history, according to Forbes magazine’s list. However, for British Prime Minister David Cameron, the closing of the Olympic Games does not mean that the troubles are over. The media began to settle accounts for the London Olympics: Against the backdrop of the raging European debt crisis, how much direct income and economic benefits did the London Olympics bring to the UK? How to make good use of the various resources left by the 2012 Olympic Games in the “post-Olympic” period? Only 100,000 visitors to London
  Although the British Olympic team has made a comeback in sports this time, the British economy is not so vibrant. More than half of the entire budget for the London Olympics was spent on improving infrastructure in East London. With new sports venues, high streets and residential areas rising from the ground, the East End of London has been transformed. The shopping mall Westfield Stratford City is the first economic gift brought to East London by the Olympic Games. It has brought 8,000 jobs, of which a quarter is to local residents. more importantly. The urban infrastructure that has been upgraded for the Olympics will not go away when the Olympic flame is extinguished. They will continue to serve an entire generation of Britons.
  However, figures show that the total number of tourists visiting London during the Olympics was only about 100,000, only one-third of the same period in previous years.
  British media reported that during the Olympics, because Londoners responded too much to the government’s call to be a “homemaker” at home, the streets in central London were empty, shopping malls, hotels and theaters were scattered, and the city fell into a “ghost town effect”.
  According to data from the British Travel Association, the number of tourists to famous tourist attractions in London has dropped by 30% to 35% recently. The number of customers shopping in central London in the week before the opening of the Olympic Games fell by 10.4% compared with the same period last year. A week after the start of the Olympic Games, the traffic in traditional tourist areas in London decreased by 11% compared with the same period last year, the transaction volume of restaurants dropped by 40%, and the box office revenue of theaters and cinemas decreased by 30%.
  During the Olympics, the average price of a hotel in London was around £200, and there was a “housing crisis” around the Olympic site. Some landlords required tenants to move out before the Olympics in their rental contracts, in order to rent empty houses at higher prices. Olympic tenants. Even the Queen of England has joined the ranks of the Olympic landlords renting out. The British royal family has decided to rent out some luxury suites in St. James’ Palace for £30,000 a day during the opening of the London Olympics in July. There are also many tourists who choose to put their “home” in a temporary tent area of ​​20 pounds a night.
  However, Chinese tourists have become a life-saving straw for London. According to the British “Guardian” report, Zhongwei tourists spent an average of 203.5 pounds during the Olympics, nearly 10% higher than the second-placed UAE tourists.
  Sponsor fees top £1.276bn
  Ratings agency Moody’s says the real “gold winners” at this year’s Games are corporate sponsors, and VISA, the international card organisation for Olympic sponsors, says London Olympic tourists use VISA during the two-week competition The card cost $1.4bn (£900m).
  In addition to the 11 TOP sponsors of the IOC, there are 42 business partners at all levels of the 2012 London Olympics.
  According to reports, the sponsorship income of TOP sponsors has exceeded 570 million pounds, and the overall sponsorship fee will also exceed 1.276 billion pounds.
  The business partners of the London 2012 Olympic Games are divided into four levels:
  the first level is the highest level “TOP sponsor”, which is the global partner of the International Olympic Committee. According to the list of sponsors published on the official website of the London Olympics, the ones that have signed contracts with the International Olympic Committee include Coca-Cola, Acer, Atos, Dow Chemical, General Electric, McDonald’s, Omega, Panasonic, Procter & Gamble, Samsung and Visa11 Family. Eleven global sponsors have paid huge sums to the IOC for the rights to use the Olympic logo, only one per commercial sector. According to reports, in this issue of the TOP program, Acer became the TOP sponsor with a sponsorship fee of more than 80 million US dollars (about 51 million pounds).
  The second level is the 2012 London Olympic Games partners, including Adidas, BMW, BP, British Airways, BT, EDF, and Lloyds Banking Group. Adidas’ sponsorship costs are not accurate, but its high-profile announcement that it will invest more than 78 million pounds in the London Olympics.
  The third level is the sponsors of the 2012 London Olympics, including ArcelorMittal, Cadbury, UPS and other 7 sponsors.
  The fourth level is the suppliers and service providers of the 2012 London Olympics, including 28 companies such as Rio Tinto and Holiday Inn, including the only company from mainland China that provides digital image services for the London Olympics.
  According to foreign media reports, the amount of crystal stone sponsorship is as high as 14.7 million US dollars (about 9.38 million pounds), but this figure has not been confirmed from the crystal stone.
  Ticket sales or record -breaking prices for
  the London Olympics are not cheap. There are a total of 8.8 million tickets including the opening and closing ceremonies and various competitions. The highest ticket price for the opening ceremony was 2,012 pounds, or about 20,356 yuan. Tickets for the closing ceremony also cost 1,500 pounds, or about 15,000 people
  . By 2017, the London Olympics will bring 16.5 billion pounds to the British economy and help create 62,275 jobs. currency. In terms of competitions, the highest ticket price for the 100-meter trapeze competition in the track and field field reached 725 pounds, or 7,335 yuan; the highest ticket price for the diving men’s 10-meter platform final also reached T450 pounds, or about 4,553 yuan. However, the most amazing thing is the VIP joint package for the London Olympics. According to the British “Daily Mail” report, some VIP joint packages are priced as high as 270,000 pounds, or about 2.7 million yuan. The London Olympic Organizing Committee predicts that ticket revenue for the London Olympics may reach a record 376 million pounds, or about 3.68 billion yuan.
  Over a four-year period, including the London Olympics and the 2010 Vancouver Winter Olympics, the IOC received $4.87 billion in broadcast fees and sponsors. International Olympic Committee President Rogge revealed in an interview with the media in July that the revenue from the 2010 Vancouver Winter Olympics and the 2012 London Olympics has risen to 3.9 billion US dollars (about 2.4884 billion pounds).
  According to reports, the London Olympic Organizing Committee, which is responsible for the specific work of the London Olympic and Paralympic Games, has reaped 700 million pounds through ticket sales and souvenir licensing.
  According to Cameron’s government estimates, the Olympic Games will bring more than 13 billion pounds of economic benefits
  to the UK in the next four years, “but this is only equivalent to 0.8% of the UK’s GDP, On average, it is equivalent to 0.2% per year.”
  Lloyds Bank said that by 2017, the London Olympics will bring benefits of 16.5 billion pounds to the British economy. And help create 62,200 jobs. Lloyds Bank believes nearly a third of the earnings will be around £5bn in the five years after the Olympics. During this period, the Olympic venues will be repurposed for other purposes, and tourism will continue to thrive. The Olympics can also bring a “joy effect” to the mood of the British public, thereby boosting their appetite for consumption.
  According to the forecast of the credit rating agency Moody’s. The UK economy has been affected by Olympic infrastructure spending, while the benefits of the Games are “likely to be short-term” and “unlikely to be of any material help to the UK economy”.
  Goldman Sachs believes that the Olympic Games will stimulate the British economy to grow in the third quarter of 2012, but the growth momentum may be significantly reduced in the fourth quarter. In the long run, the growth of tourism revenue and foreign investment brought by the Olympic Games to London is also relatively limited, “because London is already at a relatively high level in these two aspects.”
  British economist Spencer Dale also said the London Olympics only provided “an hour of positive contribution” to the UK economy. “The UK has received some tourism revenue, but the travel of the British people has been hindered. As a result, the income and expenditure have been balanced, and the UK has not gained any income from it.”