15 August 2012
Press ReleasesThe nation’s estimated £13 billion Olympic economic legacy could bring an anticipated £1.2 billion injection into the economy of Southern England, says accountants and business advisers James Cowper Kreston.
Mike Farwell, Business Services Partner at James Cowper Kreston, comments: “Sustained investment and an unswerving focus on the best outcome have brought the greatest haul of medals for Team GB in 104 years. With a similar sense of purpose and consistent approach, counties across the region can now achieve some swift moves up the economic league table.”
Mike Farwell continues: “The overall figure could be even higher if you also take into account the much discussed feel-good factor and new impetus for volunteering.”
Looking specifically at counties in Southern England James Cowper Kreston estimates that the legacy could bring the following economic boosts:
Total £1.2 billion
James Cowper Kreston’s calculations are based on the Prime Minister’s statement at the beginning of July that he was confident the Games would benefit the UK economy to the tune of £13 billion over the next four years. The firm’s estimates take into account population size, with the benefits amassed from export orders, inward investment and an upsurge in tourism.
Mike concludes: “Throughout the last fortnight there has been a huge amount of pride and satisfaction in what can be achieved through individual and collective efforts. The Games have been an enormously successful UK marketing campaign and my advice to businesses is to take confidence from this and urgently consider how they can harness the Olympic momentum.”
Mike Farwell, Partner, James Cowper Kreston LLP, Tel +44 (0)1635 35255 or email
