Skip to comments.The Olympics Called A 'Complete And Utter Disaster' For London Businesses
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 Londons 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 ...
They should speak out against homosexual marriage.
STUPID Inbred “Brits” DESERVE what they GOT! How that “Parliment” and “Monarchy” working out for ya!
It’s gotta be Romney’s fault.
Neat street. I like it.
What do they do for transportation?
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.
>>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.
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”.
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.
Who would actually want to eat Brit food?
Well, that's not surprising -- didn't I read a week or so ago that taxis were actually banned from the "Olympic area"?
That comment is timely, informative and very funny. Thank you
The juice is not worth the squeeze.
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.
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.
Plenty of curry and hummus places in London if you don’t like Brit food.
It's a U.N., global politically correct, cabal of crap.
ROMNEY WAS RIGHT!
The Romans put an end to the ancient Greek games long before they descended to the depths of these modern ones.
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.
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.
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.
Thank you, you just passed 3rd grade history.
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.
I remember Carnaby Street. Walked it many times. That’s the quietest I’ve ever seen it.
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.
why are so many shops empty? what’s the main cause of the drop in business? where is everyone
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.
At least you and Obama agree on one issue.
Outside of the ‘84 Los Angeles Olympics, has any host town/country ever turned a profit when the Olympics are in town?
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.”
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!
“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?
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)
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.
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
Britain needs apologise for nothing. And Romney was wrong.
Bar some teething troubles, this is turning out to be a great Olympics.
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.
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.
bigbob: Who would actually want to eat Brit food?
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...
Ignore him. I’d be grumpy too if my knuckles always sore from having to drag them around after me...
LOL. Britain is, and remains, a has-been.