The study, which analyses the impact of the Olympics on the meetings and events industry, suggests despite the buzz surrounding the success of the Games, the reality is the global financial crisis will have a greater impact.
It reports that contrary to common perception, history shows that staging the Olympics can have a dampening impact on the host economy and on business travel in the year of the Games itself.
It also predicts London’s event venue landscape will see little positive impact, since relatively few new event venues were built for the Games – most were either expanded existing spaces or temporary builds.
On a more positive note, it believes the Games highlighted the value of the events sector to the British economy and the upgraded transport infrastructure will be key to the sector going forward.
Jim Quintrell, BSI’s head of MICE product, said: "The stunning delivery of the Games has showcased the industry’s event planning, creative and logistical skills. On the back of the successful Royal Wedding and Jubilee celebrations and London’s transport network defying sceptics, we believe that the UK and London in particular, will become a global meetings and events destination of choice."
The report titled Leveraging the Legacy was based on research and interviews carried out with leading industry figures. Do you agree with the findings? Leave a comment below and let us know what you think.
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