Olympics 2012

Olympics 2012

Executive Summary

The rationale of this report is to examine the success and achievement of the 2012 London's Olympic Games and implication it caused on the sustainability in East London area. The Olympic Games are said to be the biggest sports event of the world. The Olympics have been a major source of entertainment and innovation to the world as well. After Beijing Olympics of 2008, the standard for the Olympics was set even higher. The London Olympic, most commonly referred as London 2012 presented a great deal of sustainability in the Olympics future. The London Olympics was held from July to September in London. This site was historically an industrial land. The Olympics development had three stages. These phases included the construction of needed sites and venues, hosting the Games properly in 2012 and to form and maintain the legacy.

Introduction

The present studies have studied the relationship between Olympic Games, the planned regeneration of the area and property values. However, few have looked at the relationship between Olympic Games and desire for people to invest and relocate to this part of the city. It should, however, be noted that Olympics are never held in the same country twice, thus constructing predictions based on the previous case studies should be made with care, and take into account that all views are merely speculative as Olympic development is yet to be completed in London (Fussy,Pp.54,2012).

Discussion

The London Olympic was a hard battled victory. The national and worldwide pressure was huge. The wellbeing and transport concerns influenced the general observation of a great event; however the clauses were soon filled with determination and friendliness. The International Olympic Committee assessed the arrangements and preparations for the London Olympics and after the last assessment; it proclaimed that the London was primed to host the world.

The total economic impact of the Olympics can be summed up by analyzing the direct, indirect and stimulated economic impacts. Direct effect is the incorporation and using of the expense that was acquired for the arranging and execution of the event. Indirect impact includes all the physical goods and services used in the event.

The hosting of an Olympic Games has a noteworthy impact on the Host City however, publication “The environment and sustainable development update” asks a valid question: “to what extent, with what results and with what benefits”. The Sydney Games of 2000 and the Athens Olympics of 2004 and Beijing 2008 provided for less tourist spending during the games. The tourists were found to spend less during the games than normal days. Therefore the average expenditure of tourists during London 2012 also decreased (Coalter,Pp.92,2004).

The calculation of contribution of the construction activity for the London Olympics to the employment and GDP of the country needs a clear estimation of the construction costs. The construction activity is said to have contributed around £4.5 billion to the country's GDP. However, the measure of the multiplier effects of the construction activity shows a contribution of more than 5 billion ...