MARKETING / MANAGEMENT

Assignment 2: Industry Essay on the London 2012 Olympic Games

A BRIEF INTRODUCTION TO THE LONDON OLYMPIC GAMES1

DISCUSSION1

The Local Community3

The Sponsors5

The Guests5

The Organizers5

The Volunteers6

Paid Workers6

CONCLUSION7

REFERENCES9

APPENDIX11

Assignment 2: Industry Essay on the London 2012 Olympic Games

A Brief Introduction to the London Olympic Games

This essay examines the negative and positive impacts of the London 2012 Olympic Games from the perspectives of all stakeholders that were involved, including the local community, the sponsors, the h=guests, the organizers, the volunteers and paid workers. Up till now, London has hosted the “Olympic Games” thrice, in 1908, 1948, and 2012. This paper focuses on the 2012 Summer Olympics. Through this event, London became the foremost city to host the contemporary Games of three Olympiads. This event is officially known as the “Games of the XXX Olympiad” and usually called “London 2012.” Approximately 180,000 audience and viewers in single day entered in the “Olympic Park east London” to enjoy the Games. The London 2012 entailed a four-year traditional Olympiad. It arrived at a peak with Olympic Games commencing ceremonial on July 27th, 2012, as the Paralympics' and Olympic fortitude crosses the globe all over again (www.olympic.org).

Discussion

Exceptionally not many things are entirely bad or good, in particular something as complex and big as London 2012. Still it is appealing and motivating to drill down into particular spots and arenas that are objective and measurable. The overall economic impact of the Olympic Games on the UK is extremely noteworthy. It was approximated that the London 2012 will facilitate contribution of £16.5 billion to the UK gross domestic product (GDP) doe more than 12 years. Out of this contribution, it was approximated that 82% will affect from the legacy construction and pre-Games activity, 12% from tourists and 6% from the expenses needed to stage the entire process of Games (Lloyds Banking Group, 2012).

“David Cameron” envisaged that the London 2012 would advantage economy of the UK through over £13 billion; however, majority of the hoteliers supposed the Olympics will have no affect on their business industry. Trip Advisor surveyed 2,500 hotel owners in the UK, out of which, over half (58 %) believed the London 2012 will have no affect, whilst just more than a third (35%) believed the Games will have either a long-term or short-term constructive impact. One of the participants in the survey also articulated the negative impact of the London 2012 as the year's most horrible revelation for his business.

Figure 1: Little impact: The eyes of the world are on London but hoteliers claim that the Olympics have been a “non-event for occupancy.” Source: (retrieved from: http://www.dailymail.co.uk/travel/article-2181137/London-Olympics-2012-Hoteliers-blame-negative-impact-Games-loss-business.html).

Once hotelier alleged the London 2012 has made summer business complex, as abroad custom was downwards considerably previous year. Whilst another participant said the London 2012 had been a “non-even for occupancy.” Nevertheless, 27% of the hoteliers in the UK uttered they assumed the financial system and market would enhance on outcomes as compared to the last year, December, 2011. On the other hand, 79% explained their businesses as advantageous or ...