Olympic Games are considered the most prestigious sports events in the world. Sport is one of the opportunities to generate income and support or help economic growth. London 2012 could give a significant boost to the UK economy in winning the effect of the recession. There are many impacts toward economics to develop and support economic recovery of UK during hosting London 2012 Olympic. London 2012 successfully stimulate business and investment until reach 9.9 billion pounds (RM50 billion) compared to the overall cost incurred of 8.9 billion pounds (RM45 billion) to host the 2012 London Olympics (Kosmo, 2008). According to the report of the Economic Effects of the Olympic Games and Paralympic Games London 2012 provided by Oxford Economics, the sports events had contributed to the tourism industry as much as 2 billion pounds (RM10.32 billion) of GDP (Kosmo, 2008). But, for construction industry, this event will support an estimated £13.5 billion …show more content…
According to Blake (2005), the Games will create the equivalent of more than 62,200 jobs for workless Londoners and all over UK. Construction activity will create opportunity for 3,000 formerly jobless who are employed as contractors on the Athletes’ Village and Olympic Park development (Blake, 2005). Thus, it can reduce the impact of unemployment and can give bright future careers to them. They will receive £121 million of wages throughout their lives with an average of £40,000 each (Blake, 2005). The Olympic Development Authority (ODA) has prepared 4,000 training for construction workers before construction of London 2012 begin. It can give good legacy impacts on the labour and have more highly-qualified workforce. Individuals who attend the training are likely able to work longer and receive higher wages. Provide training for workers will give an impact to the employer which is can enhance competitiveness of their product and increase the profitability of