London Olympics 2012
There are many advantages and disadvantages to London for hosting the Olympic Games. Advantages:
the East-end of London will be the main focus of the Olympic Zone, Stratford being host to a brand new 80,000-seater Olympic Stadium. Housing
One of the long-term benefits of the games is the provision of 5,000 homes following the conversion of the Olympic Village after the games. However the cost of housing may increase as a result of the regeneration of the area, possibly forcing local poorer families out of their homes. Transport improvements
In order to transport the thousands of spectators, athletes, officials and media to the games, the transport links to the east of London are going to be upgraded. These improvements include: Channel Tunnel Shuttle link from Stratford to Kings Cross
45% capacity of Jubilee line
£1bn improvement to London East line.
Due to the increase in the profile of London during the period of the Games, the whole of the UK is likely to see an increase in tourism. Jobs
With the Olympic Zone being in an area with high unemployment, the several thousand new short-term jobs is likely to be a big boost for the area. Disadvantages:
The main drawback of hosting the games is the cost. It is predicted that the total cost of staging the Games will be £2.375bn. Currently with the funding sources of Council Tax, the National Lottery, and the London Development Agency, there could be nearly £500million operating loss. However this deficit is hoped to be offset by increased revenue from tourism as a whole.
Lack of long-term jobs
The benefits the Olympics brings to the area are numerous, however there is a risk that the public is being misled of the opportunities for jobs, as nearly all of the jobs are likely to be short-term, and after the games it could leave the area still with a high level of unemployment.