The 2012 Olympic Games Sustainable Legacy

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Introduction When London secured the hosting of the Olympic Games in 2012 Tony Blair called it a ‘momentous day’ for London (Oliver, 2005). The bid promised to build a sustainable games, that would encompass a legacy in turn leaving a lasting impact upon the city. The London Organising Committee for the Olympic Games, LOCOG, suggested that the games would ‘set new standards, creating positive, lasting change for the environment and communities’ (London 2012, 2011). The bid for London 2012 was recognised for the sustainable legacy it intended and centred around its regeneration opportunities. Many organisations are involved in realising the Olympic legacy including the UK Government, the Mayor of London, London Development Agency and Local Authorities (CS London, 2011). This essay will investigate the factors which justify public expenditure during a significant and sustained economic downturn. Paul Deighton, LOCOG chief executive has previously stated, ‘the games is a principal asset to the country’ (Magnay, 2010) however do the actions so far of the Olympic Committee reflected this statement and thus conclude that the Olympic Games is beneficial to London and the country as a whole. Taking into consideration the impacts of events is a growing concern for event professionals although this is sometimes difficult due to the diverse nature of such events. Barker et al (2002) suggested that through every stage of the planning process managers are striving to minimise the impacts of events and the negative externalities associated with them in order to justify event spending. A theoretical practise of cost benefit analysis is difficult when assessing impacts as it is not easily measureable (Crandal, 1994) however hosting the Olympic Games has proved advantageous to the host country as Sydney noted a £5billion boost to the economy in a 5 year period after the event

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