Don't Believe The Hype

The Guardian reports that a new economic study of the British economy predicts that consumer spending will rise by £750M during London's Olympic Games in 2012, and that there will be a sustained boost to the economy over the next 4 years of £5.1BN.

Hoozah!

Well, before you pop the champagne corks, you may care to bear in the mind the following:

1 The "economic study" was published by Visa (one of the main sponsors of the event, who have a vested interests in people maxing out their credit cards).

2 During the the Beijing Games overseas visitors spent a mere £93M during the whole of the games.

£ The games are "budgeted" to cost around £12BN (including £2BN running costs).

Don't believe the hype!

Olympic Medals won during the Beijing 2008 Olympics

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