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SBD Global/July 24, 2014/Finance

Deals Signed During London Olympics Have Helped U.K. Generate $24B, Surpassing Target

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British PM David Cameron reported a "four-year target" of raising £11B ($18.7B) for the U.K. economy from deals signed during the 2012 London Olympics has been "surpassed two years early," according to STV. Contracts, sales and foreign investment linked to U.K. Trade and Industry's British Business Embassy during London 2012 have passed £14B ($24B) this year. A report on the legacy of the 2012 Olympics found £5.9B ($10B) of additional sales by U.K. companies as a "result of UKTI activity," £3.58B ($6.1B) of Olympic-related access to "high value overseas projects," and £4.72B ($8B) of "additional foreign direct investment" into the U.K., with 55% of the projects outside London. Cameron said, "Part of our long-term economic plan is about promoting every part of our country to the world and Glasgow's Commonwealth Games will give us another fantastic platform to do this" (STV, 7/23).
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