Was The Olympics Worth It?

Allegedly, if a survey carried out by ComRes for the BBC of 3,218 adults is to be believed, then more than two-thirds of the UK public believe the £8.77bn cost of the London 2012 Olympics was worth the money.

That's all very nice and dandy, except that the cost of the Olympics was in fact £12BN.

Given that the survey is based on an inaccurate cost figure, why on earth should the result be seen as in anyway credible?

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The Olympics Boost?

A report, for the UK Trade and Investment department (UKTI), said that last year's Olympics resulted in:

• £2.5bn "additional inward investment", 58% of which was outside London
• £5.9bn additional sales following Olympic-related promotions by the Foreign Office and UKTI
• £1.5bn high value overseas contracts - such as helping to design venues in other host-nations

A grand total of £9.9BN.

The figures are of course unprovable, as there is no way of knowing what would have happened without the Olympics.

Additionally, the cost of the Olympics was around £12BN.

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The £1.2M Olympic Ticket Giveaway

How "nice" to see that the government spent £1.2M of taxpayers' money on providing ministers and their chums with free tickets to watch the London 2012 Olympics.

Aside from being a colossal waste of money, it highlights the fact that there was clearly a massive shortfall in demand from genuine paying spectators for some events.

Annex A – Summary

Annex B – Ceremonies

Annex C – List of recipients to sporting events

Annex D – Accreditation

Annex E – Parliamentary Ambassadors

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