London 2012 could boost the UK's economy by at least £13bn over the next four years, claimed Prime Minister David Cameron. And a report from Lloyds TSB has claimed that the Olympics will deliver a £16.5bn boost to the UK economy by 2017 and help create the equivalent of 62,200 jobs.
"This has re-iterated the potential long-term benefits of this amazing event coming to London," commented Phil Smith CEO Cisco UK and Ireland.
"We've already begun to see the vital role the Games is playing in our economy. According to figures published back in 2011 by the Olympic Delivery Authority (ODA), 1,200 previously unemployed local people gained work on the Olympic Park. Additionally, more than 3,000 training places have been generated and 408 apprentices have been offered the opportunity to work on the Games."
As a supporter of London 2012, Cisco is working on a series of initiatives to help benefit the country in the long term. "Our British Innovation Gateway (BIG) aims to support today's entrepreneurs by providing the necessary resources for the start-up and SME community to flourish," added Smith.
"In addition, we have been working in partnership with STEMNet to enable young people all over the UK to take their first steps towards realising a career in technology and new media. Initiatives like the STEM Challenges and the Cisco Networking Academy programme aim to use London 2012 to inspire young people to study science and maths, developing their skill set and improving their long-term career opportunities.
"We see London 2012 as the start, but not the finish. We believe the Games can act as a platform for growth which spans far beyond summer next year. As long as Britain capitalises on this amazing opportunity, the London 2012 Games are sure to play an integral role in the UK's sustainable prosperity and long-term growth."
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Steve Harris, Managing Director, VCOMM