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 ...
LOL!!!
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 UtahOfficial 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
Britain needs apologise for nothing. And Romney was wrong.
Bar some teething troubles, this is turning out to be a great Olympics.
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