How do the Olympics benefit a country? In the UK, the 2012 Olympic Games transformed the capital into a sports-mad centre of excellence. Team GB, standing for Great Britain, won more gold and silver medals, than at any time in the history of the games. The nation grew enormously proud of its athletes and their achievements.

Economic Benefits of the Olympics in the UK

London 2012 Olympic Partners who sponsored the Games included big hitters Coca Cola, Acer, Dow, General Electric, McDonald’s, Omega, Panasonic, Visa, Proctor and Gamble, Samsung, Adidas, BMW, Atos, British Petroleum, British Airways, British Telephony, EDF power, and Lloyds TSB. These companies, all listed as top 500 global organisations, added the quantifiable impression of economic stability and confidence in the UK economy.

Holding an Olympic Games is going to attract corporate sponsorship, and all of these companies received tickets and paid-for corporate seats, in trade for their participation. Some critics called it a corporate Olympic Games, but others see this as a good way to secure a portion of big advertising and marketing budgets, benefitting the UK economy.

London Olympic Venue Planning and Economic Benefits

Many Londoners wondered how an Olympic Games would fit into the geography of the capital. Inventive Olympic planners utilised existing venues, built the magnificent Olympic Stadium and complex at Greenwich, and pioneered the use of pop-up and pack-away venues, that were transported for use afterwards to Brazil for the 2016 Olympic Games.

How One Year On the UK Olympics are Paid For

The total expenditure for the Games, published by HM Treasury in 2013, was 10 billion pounds. As at July 2013, the Treasury stated that the Games had resulted in 10 billion in revenue receipts for Britain’s economy. So it would seem as if the Games have paid for themselves in one year. With Britain suffering economic austerity and severe cuts to social welfare benefits, many would be relieved to hear the Games have come out cost-zero to the UK taxpayer.

Sustainability and Future Sports Projects in the UK

The 2012 Olympics caused a revolution in attitudes to sport in the UK. Many local organisations have benefitted from increased funding for sports since the Games. The increased interest in sport, and the subsequent health benefits, will create economic gains in the future for the National Health Service in the UK.

The pop-up and pack-away Olympic Venues transported to Rio for use in the next Olympics, shows adherence to United Nations’ sustainability goals and an economic benefit for the global environment. Recycling and reusing expensive materials and construction products, makes for a greener future, where ecological benefits become economic benefits in the long-term.

Economic Benefits and UK Olympics Organisation

The superb way the London Olympics Committee organised the Games, gained accolades of support from the International Olympics Committee. The famous London Tube Underground ran flawlessly, and the co-ordination of security, VIP transport, and spectators, to and from venues, went by without incident. The main economic benefit to hosting a well organised Olympic Games, is in gaining the respect of the international community. This gives people confidence about visiting London, and as Prime Minister David Cameron stated after the Games: “Britain is open for business.”