LONDON: UK Sport, the British government-backed sports investment agency has claimed that sporting events have raised more than 130 million GBP ($176 million) since the Olympic and Paralympic Games were conducted in the capital city since in 2012. It has been exactly six years since the marquee sporting competition took place.
The Olympic Park in the city also hosted the 2017 IAAF Athletics World Championships and the economic impact it created in London solely is estimated to be worth 79 million GBP ($104 million).
In its research report posted on Monday, UK Sport has said that there were 25 events from 2012-2018 that it has supported alongside those that are earmarked by the government’s National Lottery Fund.
These were attended by more than 1.3 million people and include the likes of 2013 Triathlon World Grand Final in Hyde Park (generating an economic impact of £8 million or $10.5 million), the 2016 UCI Track Cycling World Championships at the Lee Valley VeloPark (£3 million or $3.95 million) and the 2016 European Aquatics Championships at the London Aquatics Centre (£5 million or $6.57 million).
The ongoing 2018 Women’s Hockey World Cup at the Lee Valley Hockey and Tennis Centre in London has seen an increase in demand of tickets by 10,000 with more than 100,000 seats already sold to fans across the country and the world. It is estimated that a television audience of 1 billion are set to watch all games featuring England, which are naturally sold out.
UK Sport is working hard towards helping London host more sporting events till 2025 and they have succeeded to an extent courtesy the 2019 Netball World Cup, the 2019 World Road Cycling Championships and the 2022 World Gymnastics Championships. The organization has spent nearly 30 million GBP ($39.4 million) in the process. The ICC Cricket World Cup 2019 is all set to add to the economic impact sport has on the city, with the final to take place at Lord’s.
International Olympic Committee (IOC) Executive Director, Christophe Dubi commented on the findings of the report.
“We congratulate London and UK Sport on continuing to deliver an impactful Games legacy that is adding value to the city and its citizens six years on from hosting the Games.
“This is a great example of how the Olympic Games can transform lives and provide diverse long-term benefits for a city for years and decades to come.”
Head of Major Events at UK Sport, Esther Britten said:
“Six years on from London 2012, it is fantastic to demonstrate such a strong major events legacy from the Olympic and Paralympic Games and our work in this area has significantly enhanced our international reputation.
“The significant economic impact comes on top of the benefits athletes receive when competing on home soil, in addition to the phenomenal opportunities spectators and volunteers enjoy when experiencing live sport.
“Every London 2012 venue has hosted world class competition since the Games, while they have also been open to the general public, allowing people of all ages to use the same arenas as their inspirational Olympic and Paralympic heroes.
“London 2012 established the UK as a world-leading host of major sporting events and, as the government’s specialist major events agency and with support from the National Lottery, we will continue bringing some of the world’s top sporting events to London and the rest of the UK.” she signed off.
