Moody’s, the credit rating body, has produced an economic impact assessment of the London 2012 Games which predicts that the Olympics and Paralympics present a “golden opportunity” for the hotel sector.
Within the total economic impact from tourism, the lion’s share (68 percent) is accounted for by domestic spending, with foreign visitor spending accounting for a little under a third of the total.
Moody’s predicts that the hotel sector will be “a clear beneficiary”.
Hotels can expect “some very positive revenue per room numbers during and around the events themselves”, although “this could result in some weak year-on-year comparable results in 2013”.
Moody’s predicts that retail and consumer products will be the next largest beneficiaries.
“The mere presence of approximately 500,000 new potential shoppers in and around London can only be beneficial for the retail sector,” it says.
It predicts that corporate sponsors will benefit from the Games the most.
Click here to read Moody’s report online.
