London Olympics Economic Boost Failing to Materialise

Graham_Devon

Jeremy Hunt has been lambasted today after he stated that it's absolute nonsense that business is suffering, and actually, London business is quids in.

Traders have labelled him an idiot. The British Hospitality Association is seeing a decline of takings of 40%.

David Cameron is now urging people to come back, as is Boris.

How stupid do you have to be to suggest business owners are talking nonsense. The pictures of London speak for themselves!!

shortchanged_2

Businesses have only got themselves to blame. They saw the Olympics as this massive money making machine, so they go ahead and whack up all their prices.

What they failed to take into account is that we are in recession. Many people are not willing to throw around silly money at the moment like they did in the good times no matter what the occasion.

Classic case of capitalist and corporatist greed I'm afraid.

robmatic

The city of Newcastle is claiming to be experiencing increased footfall due to the Olympic football games that are being played there. St James' Park is a 52000 sellout crowd for the Brazil vs Honduras quarter final later today.

Arthurian

It might help if much more of the TV build-up commentary was replaced by more of a focus on things which could motivate tourists to visit in years to come. So, in setting the scene before an event, we see more London (or Weymouth, etc) historical buildings, inside and out, with commentary on famous people who lived and worked there. Benjamin Franklin's house, perhaps, or John Lennon's, or the places where old world explorers set sail. I know Stratford isn't the centre of such historical tourism, but as far as the rest of the world is concerned, it's right next to it.

Sapphire

Arthurian wrote: »

It might help if much more of the TV build-up commentary was replaced by more of a focus on things which could motivate tourists to visit in years to come. So, in setting the scene before an event, we see more London (or Weymouth, etc) historical buildings, inside and out, with commentary on famous people who lived and worked there. Benjamin Franklin's house, perhaps, or John Lennon's, or the places where old world explorers set sail. I know Stratford isn't the centre of such historical tourism, but as far as the rest of the world is concerned, it's right next to it.

The BBC has unfortunately degenerated into celebrity-driven drivel when it comes to big events – although I have to say the sports commentary during the Olympics, for the rowing and swimming in particular, has been first class.

pqrdef

Well I have to think the Olympic feel-good factor is responsible for the state of the stock market, since there doesn't seem to have been any other good news lately.

So after yesterday I'm expecting the Footsie to hit 6000 on Monday.

ash28

robmatic wrote: »

The city of Newcastle is claiming to be experiencing increased footfall due to the Olympic football games that are being played there. St James' Park is a 52000 sellout crowd for the Brazil vs Honduras quarter final later today.

Newcastle has an advantage in that St James' Park is just a short walk from the city centre and main shopping area, Eldon Square and Norhumerland Street, (not the Metro Centre as it's in Gateshead).

I read footfall in Northumberland Street was up almost 20%. The proximity of the stadium to the city centre should make it relatively easy for businesses to capitalise on Olympic visitors.

The hotel occupancy rate is better than a normal July and August - 81% vs 75% - despite 6 new hotels opening in the last year. So the figures are better than they look vs last year.

Let''s hope the increased footfall is resulting in increased spending in the city. Which I'm sure it is.

It used to be my old stomping ground when I was a young thing and an avid Newcastle United supporter.

homelessskilledworker

Well is'nt Joe looking a prat now, three MORE golds yesterday.

I am going to have to stop watching, everytime I see us get a gold(any medal actually) the olds tears start flowing.

This has to be giving GB a massive lift in spirits

pqrdef

Well, since our sportspeople are unstoppable, the obvious answer now is for the Queen to sack our whole lacklustre government, which couldn't win a bronze in making excuses, and appoint Lord Seb as PM with a Cabinet full of athletes.

Out,_Vile_Jelly

The West End looked pretty busy to me on Saturday; British Museum and National Portrait Gallery had the usual crowds, cafe off Trafalgar Square was full and the South Bank was absolutely heaving. Plus I spent money in Blackheath, a place I've never had reason to visit before, after the equestrian on Friday.