Saturday 1 November 2014

Sport: Olympic investment boost as targets beaten

Published 24/07/2014 | 02:30

LONDON, ENGLAND - AUGUST 04:  Jessica Ennis of Great Britain celebrates winning gold in the Women's Heptathlon on Day 8 of the London 2012 Olympic Games at Olympic Stadium on August 4, 2012 in London, England.  (Photo by Paul Gilham/Getty Images)
Jessica Ennis of Great Britain celebrates winning gold in the Women's Heptathlon on Day 8 of the London 2012 Olympic Games at Olympic Stadium on August 4, 2012 in London, England. (Photo by Paul Gilham/Getty Images)

THE UK has already passed its four-year target of £11bn (€14bn) in extra investment from the OLympic Games held in 2012, Prime Minister David Cameron's office said.

Additional sales, contract wins and foreign investment valued at £14.2bn were as a result of UK Trade and Industry's British Business Embassy, it added.

The report was published as the UK presses for similar benefits from the Commonwealth Games in Glasgow, Scotland.

"Part of our long-term economic plan is about promoting every part of our country to the world and Glasgow's Commonwealth Games will give us another fantastic platform to do this, said Mr Cameron.

"It follows on from London 2012, which was not just an amazing sporting event, but also a great opportunity to secure a lasting economic and sporting legacy for the whole UK."

Politicians on all sides of the independence debate are understood to be keen to avoid politicising the Commonwealth Games.

"During the Commonwealth Games we are giving another major push to encourage firms across the UK to sell overseas and foreign businesses to invest here," said UK business secretary Vince Cable.

Indo Business

Promoted articles

Read More

Promoted articles

Editors Choice

Also in Business