Wednesday, September 15, 2010

Transport key concern for businesses ahead of Olympics

The London 2012 Games could be a spur to business growth in the region but transport issues will be a key concern, businesses have said.

Companies along east London's Thames Gateway belt have already noticed renewed commercial interest in the run-up to 2012 based on unrivalled levels of global media exposure, sponsorship and investment, plus support for redevelopment and infrastructure improvements.

The findings come from the Invest Thames Gateway (ITG) Home to Big Ideas report, which looked at the impact on investment of hosting the Barcelona, Atlanta, Sydney and Beijing summer Games, the Winter Olympics in Turin and Vancouver, plus the 1998 and 2010 World Cups in France and South Africa respectively.

Major transport infrastructure improvements were key advantages of locating a business in a city or region hosting a major global event, according to 65% of the 769 global businesses questioned by YouGov for the report.

In addition, 52% felt the distance and time to central London would be the most important factor in considering whether to invest in the area around the Olympic site in Stratford, east London.

Some 68% believed that the visitor economy would benefit the most

New sites, space, amenities and more competitive supply chains are starting to be exploited by new wide-ranging businesses in the region - dubbed "first movers", according to ITG, the lead international inward investment agency for the region,

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