Majority of THL companies boosted by Olympics
The majority of companies belonging to THL (travel, hospitality and leisure) sectors experienced a pick-up in fortunes over the course of London 2012, Deloitte has revealed.
Cited by e-tid.com, researchers found that 68 per cent of companies reported an increase in demand for their services during the Olympics, while a mere 18 per cent recorded a decline.
Although 80 per cent of THL businesses had expected growth to arrive in some form when surveyed in January, Deloitte stated on Friday 10 August that the Games is currently “providing a net positive impact to large businesses in London”.
Furthermore, Deloitte acknowledged that the companies benefiting most from the Olympic lure were those who had planned ahead and targeted tourists with their offering. Deloitte’s lead London 2012 partner, Heather Hancock also stated that location has been hugely important in attracting customers.
Ms Hancock highlighted that “sharp, nimble” hotel groups and retail chains moved staff between branches to cope with the extra demand, but event venues and independent retailers in east London were always the best positioned to benefit.
“As the heart of London moved east, location has clearly been important, especially for smaller businesses with fewer locations,” she stated
Talking to reuters.com, Ms Hancock concluded: “In the longer term, there is no doubt that London 2012 has been fantastic showcase for London and for the United Kingdom.”