The UK will benefit from more than £500m of added tourism revenue as a result of the 2012 Olympics, according to a new report.

The Olympic Games Impact Study by financial consultants PricewaterhouseCoopers predicts £518m of new business will be generated between 2005 and 2016.

Up to and during the 2012 games the boost to tourism will be marginal, with an additional £64m of value generated. But after the event, the Games will add £454m of value to the industry via new business generated by the halo effect of hosting the competition.

London tourism will benefit from £244m of additional value, with the majority (£162m) post event.

The Government-commissioned report places the overall value of the Olympics to the UK economy at £1.9b.

by Chris Druce

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