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Impact of Olympic Games on British Economy

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  • Description

    How is it affecting local businesses?

  • Duration 2:10
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-- -- -- Probably no one watched the Olympic Torch -- down the -- on the way to the opening ceremonies later today would more anticipation than UK.

Business people there are big hopes for strong showings from these games.

You're just some of the projections we've been seeing the last couple months a billion dollar Plosser boost in spending 50000 temporary jobs -- 80% increase.

And consumer demand.

And it couldn't come at a more -- full time just announced in the past week the British economy contracted again.

In the last quarter UK firmly in the grip of a double dip recession however.

Few with the economists that we have been speaking to think that the UK can make back and win back to fifteen billion dollar investment in these games.

The fear is that high cost congestion confusion could be scaring people away.

Creating problems for people like taxi drivers and hotel owners already there reporting -- worse than expected occupancy rates.

The small business people that I have been speaking to are just -- -- still.

Others say kind of -- hard to quantify feel good factor in image could be the most important.

Victory from these games not just for the many corporate sponsors involved but for London itself.

Which has that habit I must have to say.

A bit of self criticism so maybe there could be a post Olympic glow.

Not just for the athletes for the for the for the for the business people -- I even all over the world Craig and so many different places -- live in -- for how long.

Oh about 67 years did you feel it on the streets is it exciting does it feel like everyone's really excited about that's.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Folks from all over the world including yankees have a -- around the streets and enjoy even the Yankees.

You know accidentally absolutely well hopefully that brings -- -- home -- over there Greg.

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