Stat of the day: £5.1bn

The boost the Olympics will give to the British economy.

by
Last Updated: 09 Oct 2013
The Olympics may yet be a year away, but analysts are already predicting that the Games will give a much-needed cash injection into the UK economy. Apparently, British businesses stand to gain from an injection of £5.1bn over the next four years, as consumers splurge and tourists flood into the country, according to a report by Visa Europe. That accounts for about 3.5% of the overall estimated growth of the national economy in the two years to 2015.

The biggest immediate impact will be on consumer spending which is expected to hit £750m over the seven-week Games period next summer, as people get into the spirit of things by stocking up on supplies and memorabilia. The troubled UK high street will be taking the gold medal though – high street retailers are expected to receive a £184.8m sales boost.   

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