Cameron: Britain to Get £13 Billion Olympic Boost
The London 2012 Olympics could give a £13 billion stimulus to the British economy over the next four years, Prime Minister David Cameron said Thursday.
Outlining his vision for turning the event "into gold for Britain," the premier said the country was set to host an "outstanding Games" and that he expected their full cost to be recouped over time.
"It's what I'll be devoting my energy to. Making sure that we turn these Games into gold for Britain," he said.
"Our inspiration for this should be the Festival of Britain in 1951, which was a showcase of national enterprise and innovation.
"Now, as then, we need to drum up business for Britain -- sell Britain to the world on the back of British success."
The government will use the Games, which run from July 27 to August 12, as an opportunity to host a raft of business summits and a global investment conference.
"I am confident that we can derive over £13 billion benefit to the UK economy over the next four years as a result of hosting the Games," said Cameron.
"I am certain that when you add in the benefits from construction the total gain will be even greater."
The figure, which is made up of expected boosts in sales, foreign direct investment and tourism, was calculated by UK Trade and Investment, according to a government spokesman.