Most London firms think Olympics will boost tourism and help promote the capital

Most London firms think Olympics will boost tourism and help promote the capital

By: Jeff James

Listed Under: News

Published: Tuesday, June 26, 2012

A CBI survey of more than 250 London companies has revealed the majority are positive about London 2012.

Ninety-two per cent of firms think that hosting the Olympics and Paralympics will help promote London internationally, 76 per cent believe they will boost tourism and 63 per cent say they are looking forward to the Games.

Twenty-five per cent of respondents expect their businesses to benefit directly from the events, while 64 per cent expect at least the same level of customer and business activity during the Games.

However, while the number of businesses that feel confident about dealing with the transport and logistics issues during London 2012 has risen five per cent since last year to 37 per cent, the scale of the challenge is becoming increasingly clear, as 46 per cent are still nervous about their level of preparedness.

Fifty per cent of employers intend to let their employees work from home during the Games, 57 per cent will adapt their working hours and 46 per cent say they will allow employees to have time off to attend events.

Sara Parker, CBI London director, says: “The 2012 Games will help showcase London around the world and will be good for the economy.

“But with only a month to go the scale of the challenge is becoming clear and some businesses are still nervous about their levels of preparedness.

“That’s why it’s crucial that all companies ensure they plan ahead, particularly for the transport and logistical challenges.

“It’s encouraging that many firms are already thinking about flexible working during the Games, but with a huge influx of people expected in the capital in a matter of weeks, those who haven’t prepared need to turn their attention to this as a matter of urgency.”

In terms of logistics planning during London 2012, 13 per cent of companies said they will stockpile supplies and 12 per cent will reduce deliveries.

Although 80 per cent of respondents have not planned any special measures, 29 per cent are unsure of suppliers’ ability to get deliveries to them during the Games period.

The number of businesses that do not feel they have enough information in order to plan for London 2012 has fallen in the last six months.

When it comes to what businesses think about London 2012, 76 per cent of respondents think the Games will have a positive impact on regeneration and 51 per cent think they will help improve transport.

Enhancing skill levels remains the area where firms think London 2012 will have the least impact (37 per cent).

Picture credit: LOCOG