Summer 2012 will bring the Olympics to the UK, with several million spectators following closely behind.
“The Olympic Games give the host country exposure on the front page, in the middle pages and on the back pages of every newspaper in every country on Earth over a six-week period.”
Michael Payne, International Olympic Committee.
This is seen widely across business as a real opportunity to increase profit in a time of austerity. Criticisms of the cost have arisen; but many advantages are brought with the extra footfall.
Visit Britain is targeting 4.6 million extra overseas visitors generating £2.3 billion in extra visitor spend by 2014/15 as a consequence of successfully hosting the Games and the Jubilee celebrations.
Despite the potential for revenue this infographic shows that as the games draw nearer, people’s worries are rising. Main concerns are in the area of security, transport and costs. Lord Coe, chairman of the London organising committee, has urged protesters against taking action during the event.
However, research commissioned by the department for culture, media and sport found 70% think the Games will have a positive impact on the UK. The increase in footfall has been recognised as a huge opportunity for the UK tourism trade. British stars have endorsed advertising campaigns encouraging people to holiday at home in the UK during 2012.
The retail industry is also set to benefit laws restricting shopping hours on Sundays will be suspended for the summer months to help retailers to make the most of the event.
Sponsorship is essential to the games, holding 55 sponsors currently. Large brands fear negative impact if they are not part of such a global event. PR guru Mark Borkowski explains sponsorship as an opportunity to tell a story about your brand with consumers. A strong example of this is IBM’s partnership with Wimbledon . IBM communicates information in real time about the tournament whilst demonstrating their brand’s proposition.
Branding “police” have been placed to ensure any products that feature around the arenas are masked if not an official sponsor.
After tennis appearing in the Beijing Summer Olympics in 2008, an increase of 1.5 million people participating in the sport was observed. This shines as an opportunity for leisure retailers across the UK to benefit post-games.
The Olympics immediately provide opportunity for those in surrounding areas to the hosting stadiums –ad campaigns to visit Britain in 2012 will also benefit the tourism industry up and down the country.
‘Involving UK rural business is the only way the Games will be truly sustainable’
Tim Isaac - Olympic Enterprise Coordinator.
Investment in the Olympics 2012 has been vast, if successful there is plenty of potential for the country to gain, however there are fears that lie with the alternative.
Lauren Overton
Consumer Analyst
Cool blog,I like it
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