伦敦经济报告The London Economy Final Report

奥运会被认为是世界上最重要的体育比赛，有超过200个国家参加。他们被分为一个夏季和冬季奥运会，每四年举行一个城市。在2012，它在伦敦举行，并于七月25至12日举行了2012。根据（BBC新闻，19七月2013），它表示，伦敦2012奥运会”推动了英国经济的£亿”的贸易和投资。而系（2012届奥运会的英国贸易投资总署、结果），报道“提高£25亿美元的“额外投资”，£59额外的销售和£高价值15亿美元的海外合同。”这seemed2012奥运给伦敦的一些积极的经济影响。然而，这也可能是一些负面影响。因此，在这篇文章中，我将主要以2012奥运会对伦敦的经济影响和解释它的细节通过诸如劳动力市场方面，旅游，零售业，运输系统和房地产市场等。The Olympic games are considered to be the world’s foremost sports competition with more than 200 nations participating. They are divided into a summer and winter games, held every four years by a single city. In 2012, it was held in London and took place from 25 July to 12 August 2012. According to (BBC news, 19 July 2013), it said that London 2012 Olympics “have boosted UK economy by £9.9bn” in trade and investment. While the department (UKTI, results of 2012 Olympics), reported “it boosted £2.5bn “additional inward investment”, £5.9bn additional sales and £1.5bn high value overseas contracts.” It seemed2012 Olympics brought some positive economic impacts on London. However, it could be also some negative impacts. Therefore, in this essay, I will focuson the economic impact of the 2012 Olympics on London and explain it in details through some aspects such as labour market, tourism, retail sectors, transport system and housing market etc.

 

首先，我们可以从奥运会上看对零售业的影响。据（无形的商业，2012奥运会），它说，英国零售市场预计票价相当不错。他们预计酒店更广泛的零售行业内的主要受益者，受益于£371M调。同时，一个额外的£2.32亿元预计到餐饮业、酒吧一个额外的£2.32亿。同样，他们在英国商店的销售额将增加，他们相信他们将获得可观的经济效益，这是由于增加的活动和在英国的游客数量的增加。作为结果，（英国广播公司新闻，伦敦奥运会效应）说，伦敦的酒店录得的客房收益率上升了4%，在英国和威尔士的13%和增加了44.4%的收入在奥运会期间。虽然在餐馆和34%的收入增长了59.4%。这对英国经济似乎是一种乐观的态度。然而，爱丁堡和苏格兰的房地收益率下降了近5%，因此他们认为，从英国其他地区转移到伦敦的支出，而不是真正对英国经济产生积极的影响。Firstly, we can look at the impact on retail sectors from Olympics. According to (Intangible Business, 2012 Olympics), it said that the UK retail market was expected to fare pretty well. They were expected hotels are the main beneficiaries within the broader retail sector, benefitting to the tune of  £371m. Also, an additional £232m was expected to come to the restaurant sectors and an additional £232m in bars. Similarly, They were expected a boost increase of sales in UK shops and they believed they will receive a substantial economic benefit and this is due to increased activity and spend within the UK from the increase in tourist numbers. As results, (BBC News, Olympics effect) said London’s Hotels recorded room yields rose by 4% in England and 13% in Wales and an increase of 44.4% in revenue during Olympics. While there also increased 59.4% in restaurants and 34% in bars of their revenue. It seems an optimistic impact on the UK economy. However, it also presented that the room yields were down nearly 5% in Scotland and 5% in Edinburgh, so they believed that travellers shifting spending to London from other parts in UK rather than a truly positive impact on UK economy.
 

If we look at other parts of retail sector, the benefits from Olympics did not seem as good as the hotels, restaurants and bars. According to (Telegraph News, London’s Olympic legacy), it said “London was a “ghost town” during the Olympics games reflecting the absence of regular tourists in hotspots because lacks of attractions due to they thought it might be a crush of visitors. Locals were encouraged to stay off and dutifully did so and thereby lead to a “ghost town”. (The Huffington Post) says that the financial times reported some retailers in central London have reported a 30% decrease in sales when compared to the previous year in August 2012. They said the majority of roads are clear and the shops quiet and visitors came to UK were aimed to watch the competition rather than shopping. The Olympic games even decrease the attraction to regular visitors and local people and lead to a downward trend in the sales. Therefore, we can see that local hotels, restaurants and bars were gained revenues from 2012 Olympics, but local shops and hotel of other parts in UK were lost from the Olympics games and so it evidenced the games did not always bring positive economy impacts. 

 

Secondly, excellent transport will be a key factor in running successful Olympic games. In order to operate an excellent transport system and in support of the Games, UK government had done a lot before the 2012 Olympics began. According to (Transport for London) it shows almost £6.5bn was invested in transport improvements around the Olympic Park and across the capital. It also include line upgrades and new trains on the Tube, the complete refurbishment of Stratford and King’s Cross St Pancras Tube stations, the extension and transformation of the London Overground network, and a line extension and extra carriages for trains on the Docklands Light Railway. As results, (BBC News, London 2012) says that the Olympic games saw more people use the Tube than at any other time in its 149-year history. Transport chief have hailed its success and saying transport for London had done a good job in the period of time. Therefore, it shows that transport system had done very well even if a crowded tube station and thereby an increase of income from fare. However, (Telegraph News, My Olympic experience) explains that the shops are empty, the bars are empty, the restaurants are empty and the overall effect on London’s economy has been devastating. It had concluded the income of taxi. Cab drivers are anything between 20 and 40 per cent down on their usual income and this was the worst time for the cab trade since the recession of the 1990s. The reason that people did not come out because they thought the road would be crowed due to the games. Therefore, it evidences that Olympic games brought crowed in underground and decrease income of cab driver and so it was not come out very good of transport from London 2012.

 

Thirdly, Olympic games had also brought some impact on UK tourism. According to (Telegraph, Tourist boosts UK economy) says that more than 3 million overseas residents visited Britain in August, a 5 percent drop on the same month last year, according to the Office for National Statistics. However, Britain’s Earnings including Olympic and Paralympic tickets bought before and during the Games rose 9 percent on the year. The data showed that the 590, 000 people who visited for the Olympics or attended a ticketed event spend an average of £1,290 during their visit, compared with £650 by other visitors. Therefore, it evidences an increase of UK income. While (London and Partners) explains that 2012 was an amazing year in which UK had a string of golden opportunities to show the world why London is the best big city on earth and it gave UK a platform to shine to audience of billions through Olympics games. As results, the total expenditure from tourism rise to £10.08 billion, which is an increase 7.0%. This very robust boost in tourism receipts for 2012, almost two-thirds of a billion pound increase. However, (Reuters News, Olympics) says that the noticeable lack of visitors in London’s theatres, museums and shopping mall during the Olympics have raised concerns that the games could hurt British businesses as other tourists stayed away to avoid the crowds. It evidences Olympics boosted income from the increase spending on tickets and sport events but lost income from usual tourists, so it had both of positive and negative effect on the UK economy.

 

Moreover, Olympics 2012 had improved the unemployment rate in the UK. According to (Guardian News, Olympics jobs boost) explains that the number of Britons out of work had fallen to its lowest level in almost a year, with the decline partly due to jobs created by the London Olympics as well as an increase in self and part time employment. Unemployment on the internationally recognized International Labour Organizational measure fell by 46,000 in the three months to June to 2.56m, according to the Office for National Statistics, to 8%, the lowest rate since the three months to July 2011. While (Telegraph News, UK employment boosted) also says that the holding of the Olympic games appeared to provide a temporary boost to employment of the London labour market due to increase the jobs opportunities of preparing for the London 2012. Therefore, it evidences that the improvement in the labour market comes from the Olympics games. However, (Guardian News, Olympics jobs boost) also emphasizes that many people were working for a part time job because they cannot find a full time job. Also, Long-term youth unemployment is still going through the roof. Therefore, it evidences just a temporary to improvement of unemployment through the Olympics games. The rate of employment might decrease when the London 2012 is over and thereby the unemployment is not really has been improved from the Olympics games.