Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

The Olympics Called A 'Complete And Utter Disaster' For London Businesses
Business Insider ^ | 08/03/2012 | Ashley Lutz

Posted on 08/03/2012 10:19:10 AM PDT by SeekAndFind

London businesses are seeing a drastic drop in sales as natives avoid leaving their homes during the Olympic games.

From restaurants to hotels, everyone's hurting, reports Samantha Conti at Women's Wear Daily.

“The Olympic Games have been a complete and utter disaster. The shops are empty, the bars are empty, the restaurants are empty,” Steve McNamara, general secretary of the Licensed Taxi Drivers’ Association, said in the Daily Telegraph this week.

He also said that taxi drivers have seen a 20 to 40 percent drop in their income this month.

And WWD profiled a retailer that was disappointed by Olympic traffic:

The New West End Company — which represents businesses on Oxford, Bond and Regent streets — estimated earlier this year that retailers in London’s West End would make 16.6 million pounds, or $26 million at current exchange, in additional revenue as a direct result of the Olympics.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; United Kingdom
KEYWORDS: 2012olympics; business; london; olympics

An unusually quiet Carnaby Street in Soho on July 31, 2012 in London, England.
1 posted on 08/03/2012 10:19:17 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

They should speak out against homosexual marriage.


2 posted on 08/03/2012 10:22:39 AM PDT by Berlin_Freeper (Siri: Gold Baby, Gold!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

STUPID Inbred “Brits” DESERVE what they GOT! How that “Parliment” and “Monarchy” working out for ya!


3 posted on 08/03/2012 10:22:47 AM PDT by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

It’s gotta be Romney’s fault.


4 posted on 08/03/2012 10:23:22 AM PDT by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Berlin_Freeper

LOL!!!


5 posted on 08/03/2012 10:24:27 AM PDT by vlad335
[ Post Reply | Private Reply | To 2 | View Replies]

To: SeekAndFind

Neat street. I like it.

What do they do for transportation?


6 posted on 08/03/2012 10:24:41 AM PDT by TribalPrincess2U (0bama's Welfare, Food Stamps, Division and Disability 'Legacy')
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

It was like that in ATL when it came here.

The Chicken Littles had scared all the locals off, for one.

I can remember going to a Irish Pub to see and excellent band that had been hired to play the week for mucho $$$$ and there was no one there. Literally. I thought we had the wrong venue. The owner was tearing his hair out.

People started venturing out a little more than halfway through, IIRC.


7 posted on 08/03/2012 10:26:21 AM PDT by freedomlover
[ Post Reply | Private Reply | To 1 | View Replies]

To: US Navy Vet

>>STUPID Inbred “Brits” DESERVE what they GOT! How that “Parliment” and “Monarchy” working out for ya!<<

This is the kind of crap that just makes my head hurt. If you’re gonna call someone else stupid, you probably should do it in a way that makes you look marginally smart.


8 posted on 08/03/2012 10:27:13 AM PDT by Xenalyte (Settle down, Beavis.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: SeekAndFind

I’ve never understood why cities think the Olympics will be a big boon to local businesses. You basically lose all your paying customers while your city is taken over by foreign interlopers. And the city has to spend millions to “get ready” for the event. I’d never want to have them in Houston. We could never do it here anyway, unless every event occurs inside because it’s too hot. Or we’d have to have “Fall Olympics”.


9 posted on 08/03/2012 10:28:05 AM PDT by Sans-Culotte ( Pray for Obama- Psalm 109:8)
[ Post Reply | Private Reply | To 1 | View Replies]

To: US Navy Vet

Oh brother. Really? You think that. UK is pretty successful overall. I guess Atlanta and Salt Lake had the same problems. Olympics is not necessarily a money making venture but a way to celebrate the greatness of the athletes which is what is being done. America is number one again. We should be proud.


10 posted on 08/03/2012 10:30:29 AM PDT by napscoordinator (GO TO CHIC-FIL-A 1 AUGUST FOR BREAKFAST, LUNCH OR DINNER (OR ALL))
[ Post Reply | Private Reply | To 3 | View Replies]

To: SeekAndFind

Who would actually want to eat Brit food?


11 posted on 08/03/2012 10:31:17 AM PDT by bigbob
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
He also said that taxi drivers have seen a 20 to 40 percent drop in their income this month.

Well, that's not surprising -- didn't I read a week or so ago that taxis were actually banned from the "Olympic area"?

12 posted on 08/03/2012 10:31:25 AM PDT by workerbee (June 28, 2012 -- 9/11 From Within)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Berlin_Freeper

That comment is timely, informative and very funny. Thank you


13 posted on 08/03/2012 10:32:58 AM PDT by patriotUSA (Thank you Jesus.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Sans-Culotte
If I traveled to the Olympics I would be seeing every Olympic event I could and grab some food on the run between venues. I'm not there to see the local nightlife or shopping. On the other hand if I was a local who wasn't interested in the Olympics I would either stay in my house to avoid the crazy sports fans or take a couple weeks to get out of town. Neither one is good for local businesses.
14 posted on 08/03/2012 10:35:16 AM PDT by KarlInOhio (Recycled Olympic tagline Shut up, Bob Costas. Shut up! Shut up! Shut up! Shut up! Shut up! Shut up!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: SeekAndFind

The juice is not worth the squeeze.


15 posted on 08/03/2012 10:36:08 AM PDT by ryan71
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sans-Culotte
I’ve never understood why cities think the Olympics will be a big boon to local businesses. You basically lose all your paying customers while your city is taken over by foreign interlopers.

The places that do well in the Olympics are places that derive most of their money from tourism anyway. Usually with the Winter Olympics as it establishes the location as a vacation destination for the ski set. Summer Olympics are almost a guaranteed money loser. Useful if you want to show off and don't care how much it costs. Kind of like when millionaires buy a Guestroom. There is no way to economically justify it (leasing the jet only when you need it would always be cheaper), it is just something flashy to show that you have money to blow.

I'm so glad Chicago didn't get the Olympics.
16 posted on 08/03/2012 10:36:17 AM PDT by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: SeekAndFind

Doesn’t it normally work out that way?
The idiot local government sells it promising hordes of visitors with pockets full of cash, the local business lose their normal custom, and the taxpayers get stuck with a huge bill.


17 posted on 08/03/2012 10:37:58 AM PDT by Little Ray (AGAINST Obama in the General.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

As much as I detest Romney (only slightly less than Obama), apparently the Londoners need to apologize to Romney.

Once their mayor gets unstuck from that wire contraption, that is.


18 posted on 08/03/2012 10:38:17 AM PDT by TheThirdRuffian (I will never vote for Romney. Ever.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bigbob

Plenty of curry and hummus places in London if you don’t like Brit food.


19 posted on 08/03/2012 10:38:43 AM PDT by 353FMG
[ Post Reply | Private Reply | To 11 | View Replies]

To: SeekAndFind
I avoid anything with the word 'Olympic" in it and do not watch any of it.

It's a U.N., global politically correct, cabal of crap.

20 posted on 08/03/2012 10:40:19 AM PDT by dragnet2 (Diversion and evasion or tools of deceit)
[ Post Reply | Private Reply | To 1 | View Replies]

To: vlad335

LOL!!!

ROMNEY WAS RIGHT!


21 posted on 08/03/2012 10:41:31 AM PDT by DefeatCorruption
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind

The Romans put an end to the ancient Greek games long before they descended to the depths of these modern ones.


22 posted on 08/03/2012 10:43:48 AM PDT by 1raider1
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

They have done it to themselves. My understanding is that London has become a police-state.

Had a relative who visited London in June, and they were told by Londoners that everything would locked down, and there would long queues by early July - and they should definitely plan on getting out before then.

No way to attract tourists.


23 posted on 08/03/2012 10:44:24 AM PDT by PGR88
[ Post Reply | Private Reply | To 1 | View Replies]

To: freedomlover
Ditto in LA in '84.

I was living there then, even attended opening ceremonies. We were all told that traffic would be a disaster, some companies went on staggered work hour starting times: 7:00, 7:30, 8:00.

Traffic problems never materialized, nor did the hoards of tourists.

Olympics only benefit: IOC, NBC, some hotels and the improved infrastucture of the facilities.

They are usually a disaster for: Taxpayers, small businesses, local population who pay the bills but do not get the tickets to attend events.

24 posted on 08/03/2012 10:44:25 AM PDT by Michael.SF. (Romney was right about the Olympics, but neither the Brits or the Dems will admit it.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: bigbob
Fish and chips, 'nuff said.


25 posted on 08/03/2012 10:47:06 AM PDT by patriotUSA (Thank you Jesus.)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Michael.SF.

They don’t benefit NBC, they were going into this projecting losing $200M, thanks to higher than expected ratings they’re now saying they’ll break even.

Really the only anybody that benefits is the IOC. Any infrastructure improvement are far out weighed by the other things built that nobody will ever use.


26 posted on 08/03/2012 10:48:33 AM PDT by discostu (Welcome back my friends to the show that never ends.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: US Navy Vet
What does “Parliment” and “Monarchy” have to do with the local London merchants losing money at the Olympics? As for being stupid 'Brits", what country established the early colonies along the Eastern Seaboard of the present day U.S.? From what country did the U.S. receive it's governing principles?

Thank you, you just passed 3rd grade history.

27 posted on 08/03/2012 10:50:31 AM PDT by muleskinner
[ Post Reply | Private Reply | To 3 | View Replies]

To: freedomlover

I drove home from work one afternoon during the ATL Olympics. When I got on the interstate (I-75 N), it was almost deserted. I immediately thought Jesus had come back and I’d been left behind. Scared me to death.


28 posted on 08/03/2012 10:50:40 AM PDT by Crawdad
[ Post Reply | Private Reply | To 7 | View Replies]

To: KarlInOhio
If I traveled to the Olympics I would be seeing every Olympic event I could and grab some food on the run between venues. I'm not there to see the local nightlife or shopping. On the other hand if I was a local who wasn't interested in the Olympics I would either stay in my house to avoid the crazy sports fans or take a couple weeks to get out of town. Neither one is good for local businesses.

That's more or less what I did in Atlanta and Salt Lake. In both, I stayed in a private residence (guest of friends in an Atlanta suburb, rented a condo just outside Salt Lake). I frequently ate in, as I had access to a kitchen, or brought food with me to the venue. When I ate out, I ate near the venues, or on my way to or from a venue. I think I only ate at a local non-chain restaurant once--that was in a small tourist-type mall in Salt Lake City, but away from the main Olympic area.

Would it have been different had I gone to London as I was hoping to do? Probably--I would have gone to London knowing that there was more to do than the Olympics, and I might have spent a day in which I didn't have any event tickets visiting the non-Olympic parts of the city or possibly catching a show.
29 posted on 08/03/2012 10:54:46 AM PDT by JeffChrz (ObamaCare is now ObamaTax. Vote for Romney.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: SeekAndFind

I remember Carnaby Street. Walked it many times. That’s the quietest I’ve ever seen it.


30 posted on 08/03/2012 11:14:02 AM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TribalPrincess2U
Neat street. I like it. What do they do for transportation?

London has about the best transportation system you've ever seen in a modern metropolis, but some streets are permanently closed to vehicular traffic. Mostly, they're tourist magnets or streets that are too narrow for modern cars and trucks to safely navigate.

Carnaby Street is in the former category.

31 posted on 08/03/2012 11:18:28 AM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: SeekAndFind

why are so many shops empty? what’s the main cause of the drop in business? where is everyone


32 posted on 08/03/2012 11:20:30 AM PDT by Bronco_Buster_FweetHyagh (I cling to guns and religion.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bigbob
Who would actually want to eat Brit food?

Having lived there for a spell, I can sympathize with your question, but one thing the Brits do excel at, is fish and chips. I thought I'd had fish and chips before living in England, but the first time I tried them there, I realized I'd been had.

Let me tell you, there ain't nothin' like a hot serving of authentic British fish and chips when you're walking home from the pub on a cold British night.

33 posted on 08/03/2012 11:27:28 AM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
[ Post Reply | Private Reply | To 11 | View Replies]

To: US Navy Vet

At least you and Obama agree on one issue.


34 posted on 08/03/2012 12:02:47 PM PDT by Eurotwit ("Every saint has a past and every sinner has a future.")
[ Post Reply | Private Reply | To 3 | View Replies]

To: SeekAndFind

Outside of the ‘84 Los Angeles Olympics, has any host town/country ever turned a profit when the Olympics are in town?


35 posted on 08/03/2012 12:27:22 PM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bigbob

RE: Who would actually want to eat Brit food?

One Irish man told me : “The British conquered the world to get away from local cooking.”


36 posted on 08/03/2012 12:33:28 PM PDT by SeekAndFind (bOTRT)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Windflier

I was in England 88-91

First experience with Brit Fish and Chips was I took a big bite of the sandwich and searing oil squirted out onto both sides of my mouth. I had a big burn sore on both sides of my mouth for days. I looked like the Joker from Batman.

Never ate at THAT place again. Best F&C I ever had was at a little pub outside RAF Sculthorpe near Kings Lynn. Yum!


37 posted on 08/03/2012 12:38:04 PM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
[ Post Reply | Private Reply | To 33 | View Replies]

To: bigbob

“Who would actually want to eat Brit food?”

Bangers and mash, toad in hole, and spotted dick aren’t so bad. Would you prefer some haggis instead?


38 posted on 08/03/2012 12:50:39 PM PDT by TexasRepublic (Socialism is the gospel of envy and the religion of thieves)
[ Post Reply | Private Reply | To 11 | View Replies]

To: hattend; SeekAndFind
"Outside of the ‘84 Los Angeles Olympics, has any host town/country ever turned a profit when the Olympics are in town?"

The 2002 Salt Lake Winter Olympics were extremely successful in Utah from a financial perspective. A summary is given below and more information is available in a recent article: Economic impact of 2002 Olympics still felt

Estimated economic impacts of 2002 Olympics on Utah

Official state estimate of economic impact for the period leading up to and through the end of 2002:

$4.8 billion in sales

$1.5 billion in earnings for Utah workers

35,000 job years of employment

Approximately $1.02 - 1.25 billion in direct economic impact to Utah from hosting events (in 2002)

An estimated $210 million value in media exposure from Utah events (in 2002)

Profits

The Olympics yielded about $100 million in profit, which were distributed throughout the local community after the Games:

$72.0 million endowment to maintain facilities

$10.2 million for Olympic Legacy Plazas

$11.5 million charitable donations

$7.0 million in USOC business credits.

Tourism

Hotel room rents = 25 percent increase from 2002 to 2009

Rocky Mountain Lodging Report: Statewide occupancy increased from 58.8 percent in 2003 to 59.7 percent in 2010

Utah has seen a 42 percent increase in skier visits since the Games.

Direct expenditures from skiers and snowboarders have increased 67 percent from $704 million in 2002-03 to $1.2 billion in 2010-11.

Sources: Utah Sports Commission, Salt Lake Chamber


39 posted on 08/03/2012 1:02:07 PM PDT by Unmarked Package
[ Post Reply | Private Reply | To 35 | View Replies]

To: TheThirdRuffian; DefeatCorruption

Britain needs apologise for nothing. And Romney was wrong.

Bar some teething troubles, this is turning out to be a great Olympics.


40 posted on 08/03/2012 1:14:30 PM PDT by the scotsman (i)
[ Post Reply | Private Reply | To 18 | View Replies]

To: SeekAndFind
Same thing happened with Boston hosting the DNC a couple of years ago...they shut down the whole city including Interstate 93 running through the city, and then wondered why no one was coming into the North End to eat, or walk around Fanueil Hall to see the shops..

Idiots..

41 posted on 08/03/2012 1:18:10 PM PDT by Fedupwithit ("Live Free or Die: Death is not the worst of evils" - Gen. John Stark)
[ Post Reply | Private Reply | To 1 | View Replies]

To: hattend
Best F&C I ever had was at a little pub outside RAF Sculthorpe near Kings Lynn. Yum!

I'm surprised you were willing to give it a second try after that disastrous first experience. I tried what they called a 'beef burger' once while I was there. First and LAST time I did that. I still get a nasty taste in my mouth just thinking of it.

There are still some British eats and drinks that I sorely miss. I grew to love Branston pickle and just about all of their draft beer. I still think PG Tips beats that Lipton crap hands down.

I was there in '89 - '90. South of England the whole time.

42 posted on 08/03/2012 1:26:37 PM PDT by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
[ Post Reply | Private Reply | To 37 | View Replies]

To: SeekAndFind

The last time that I was in London was in 2005.

I don’t remember whether they had just gotten the selection for the 2012 Olympics or whether they were still campaigning for it. But I remember that London Olympics 2012 banners were ‘everywhere’.

It seemed like the normal daily routine was already maxed out for touristy stuff. Restaurants were crowded, local attractions were crowded, hotels were pretty full.

I can well imagine that actually running the games and putting in all sorts of security restrictions and transportation restrictions could have the effect of decreasing, rather than increasing the amount of tourist spending.


43 posted on 08/03/2012 1:35:43 PM PDT by Zeppo ("Happy Pony is on - and I'm NOT missing Happy Pony")
[ Post Reply | Private Reply | To 1 | View Replies]

To: bigbob

bigbob: Who would actually want to eat Brit food?


Let me see if I remember this right:

Hell: The British cook, the French run the railroads, and the Germans are the police.

Heaven: The British are the police, the French cook, and the Germans run the railroad.

I think that’s how the joke went...


44 posted on 08/03/2012 2:36:48 PM PDT by Peet (Everything has an end -- only the sausage has two.)
[ Post Reply | Private Reply | To 11 | View Replies]

To: muleskinner

Ignore him. I’d be grumpy too if my knuckles always sore from having to drag them around after me...


45 posted on 08/05/2012 11:15:00 AM PDT by sinsofsolarempirefan
[ Post Reply | Private Reply | To 27 | View Replies]

To: the scotsman

LOL. Britain is, and remains, a has-been.


46 posted on 08/06/2012 9:06:34 AM PDT by TheThirdRuffian (I will never vote for Romney. Ever.)
[ Post Reply | Private Reply | To 40 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson