July 15, 2005 Olympics a windfall or just a breeze?Organisation: London Olympics
Analysis and commentary by Echo Research. News of London's successful bid for the 2012 Olympics prompted an outpouring of euphoria across national, regional newspapers and trade press alike. Every one was keen to flag up the multiple benefits of the Games to London and beyond, and get a slice of the Olympic pie. "We've got 'em!(The Mirror, 7/7), "Games promise huge boost for East End"(Guardian, 7/7) "Olympics 'priceless' for East Anglia"(Eastern Daily Press, 7/7), ran typical headlines, and even Vogue joined in with predictions of designer sports gear and extra money for the retail sector. But even before the terrorist bombs had wreaked their terrible damage on London less than 24 hours later, commentators began to question the benefits of the win:
"And the winner is … London. Or is it?"(Daily Telegraph, 9/7),
"The Games are unlikely to generate much economic benefit beyond the direct impact of regeneration in London and a nebulous 'feelgood' factor"(FT, 7/7). The Sunday Times was more pessimistic:
"Does anybody seriously believe we can deliver an Olympics in under seven years without huge trouble and ballooning budgets?"(10/7). Maintaining positive PR and public opinion as the euphoria wears off and the real work begins will surely be a job of Olympic-sized proportions.
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