1. Tourism, Regeneration and the London Olympic Games 2012

2. Tourism, Regeneration and the Olympic Games
The LDA’s Role
Regional Development Agency for London
“The Mayors Agency for Business and Jobs”
Supporting growth of London’s economy and promoting social inclusion in economic success
A Stakeholder for the Olympic Bid
Land assembly/Planning
Communications
Realising Economic Benefits from Games
17 June 2005

3. Tourism, Regeneration and the Olympic Games
Tourism in London
A major economic driver for London
Value of £15bn per annum = 10% capital’s GDP
Attracts 27.7m visitors each year, second only to New York
Leading visitor destination for overseas visitors with 13m in 2003.
But…drop in market share since 1980

4. Tourism, Regeneration and the Olympic Games
Tourism and the LDA
Obvious rationale for LDA involvement in the sector
One of 5 priority sectors for the Agency
Spend approximately £20m per year on the sector
Excludes specific capital visitor attraction, etc, projects
Resources Spent on Marketing, Promotion and Product Development
Key supporter of Visit London

5. Tourism, Regeneration and the Olympic Games
Tourism as a Driver of Regeneration
Key sector with potential for growth
Provides a range of employment opportunities
A sector that encourages an entrepreneurial culture – diversity of offer/ product development
Close links to important creative/cultural sector
Raises profile of the city – lead to inward investment
Business tourism/enhances London’s global position

6. Tourism, Regeneration and the Olympic Games
Tourism Benefits from Hosting the Olympic Games
Unlikely to be same as recent host cities; Barcelona, Sydney, etc
However, fantastic opportunity to re-establish London and UK as the world’s premier visitor destination.
Will require concerted effort to boost tourism industry, will not just happen by itself.
Important to focus on legacy benefits, where greater value/benefits can be derived.

7. Tourism, Regeneration and the Olympic Games
Tourism Benefits from Hosting the Olympic Games
Given London’s current position, focus is not to increase visitor numbers, but increase visitor spend
Achieve through improved quality and diversification of offer
Diverse product offer likely to result in greater repeat visits
Golden opportunity to showcase London and UK to worldwide audience of 4bn people
Access to new markets, Asia, etc.

8. Tourism, Regeneration and the Olympic Games
Tourism Benefits from Hosting the Olympic Games
A new Sports/Lifestyle visitor experience in London, based on new world-class recreation and sports facilities.
A focus for sporting and cultural events
A new, attractive green space for the capital
A new cultural quarter in conjunction with Stratford City, offering a mixed commercial/retail destination in East London
Opportunities for local entrepreneurs and existing firms to establish and grow tourism/hospitality businesses in East London.

9. Tourism, Regeneration and the Olympic Games
How to realise the Benefits
A concerted/coordinated effort to promote and market London and UK
The Games promoting a broader “sports/lifestyle” tourism offer.
Highlight London and the Games as a gateway to the UK
Develop a major events strategy for London to attract further sporting/cultural events
Develop an Edinburgh Fringe-style festival legacy

10. Tourism, Regeneration and the Olympic Games
How to realise the Benefits
Change perceptions of tourism as a career, programmes to promote skills and workforce development in HLTT
Business support for the tourism industry to improve competitiveness, enhancing quality assurance/standards
Identify and market potential training and preparation camps for national Olympic teams
Measures to guarantee quality of accommodation and to control costs during games period