After years of preparation, London is in the starting blocks for the Olympic Games which begin in three weeks’ time.
The British capital’s already world famous landmarks will reach a huge worldwide audience.
New sporting venues, transport links and buildings such as The Shard – the EU’s tallest building – are designed to take British pride to dizzy heights.
They have also sent costs through the roof: London looks set to be among the most expensive Olympics ever, reaching a total of some 12 billion euros.
One recent report from the ratings agency Moody’s says the games are unlikely to provide a substantial boost to the UK economy.
“It’s because there will be some off-setting implications so on the one hand people who might have been coming to London anyway may avoid London because of the Games and don’t want to get caught up in it. At the same time there may be a degree of business disruption which might affect local businesses in the area,” said Moody’s spokesman Colin Ellis.
Much of the investment has been made in the east of London.
The landscape in Stratford – once one of the poorest areas in England – has changed massively since it was chosen as the main venue for the games.
As well as the Olympic Park, Westfield is now Europe’s biggest urban shopping centre.
Reporting from London for euronews, Veronika Kormaier said: “Olympic Fever hasn’t yet arrived in Stratford. The area is still under construction. Although the Olympic site is impressive, local people are worried that the games will influence their everyday life too much.”
Inside the Stratford Centre, there is no sign that the games will be unfolding only a couple of hundred metres away.
Some local people – rather than seeing a potential boost for their businesses and the local community – are concerned at what they stand to lose.
“Well I’m not too pleased with it myself, because I think it’s going to disturb us. It will possibly fetch a bit of trade here, but it’s going to cause havoc on the roads around here, that’s for sure,” said 80-year-old fish seller Ronald Harvey.
“When I didn’t get any tickets, because I work in the area I did feel a bit (upset). I know people who are in Australia who got eight pairs of tickets. They’re coming from Australia and we didn’t get any,” said Paul Smith, a butcher.
The build-up to the Olympics has seen an avalanche of figures in terms of potential costs and benefits to the British economy.
Local people will find out soon what the Games will bring them in reality.
Copyright © 2014 euronewsMore about:
- 1Pakistanis protest against Taliban as army intensifies offensive in north-west
- 2Israel launches airstrike on Gaza in apparent retaliation for rocket attack
- 3Australian mother arrested after eight children stabbed to death
- 4Kyiv terror plot foiled, says Ukrainian security service
- 5Obama says Sony made a “mistake” in cancelling movie over cyber threats
- 1Rosetta team is euronews’ people of 2014
- 2Thailand’s Princess Srirasmi renounces royal status and will divorce
- 3Pakistanis protest against Taliban as army intensifies offensive in north-west
- 4Left-wing extremists run riot in upscale Zurich, Switzerland
- 5Australia: two hostages and gunman dead after police storm Sydney siege café
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Watch: Passengers ‘push-start’ frozen plane in Siberia | euronews, world news
- 3Le Pen: I admire ‘cool head’ Putin’s resistance to West’s new Cold War | euronews, interview
- 4McCain blasts Europe’s approach to Ukraine conflict ‘a joke’ | euronews, the global conversation
- 5Which countries in Europe cause the most air pollution damage? | euronews, world news
- 6Moldova pro-EU parties take narrow lead in elections | euronews, world news
- 7Grenoble: Europe’s first ad-free city | euronews, world news
- 8NATO joins search for ‘Russian submarine’ off Scottish coast | euronews, world news
- 9European Union News | euronews: latest breaking news and headlines about European Union
- 10Obama’s ‘risky’ immigration gamble | euronews, world news
- 11Ukraine reports accident at Zaporizhzhya nuclear power plant | euronews, world news
- 12Crude awakening: Romania’s Black Sea oil and gas finds fuel Europe’s energy hopes | euronews, reporter
- 13Irony as organised crime prosecutor arrested for corruption in Romania | euronews, world news
- 14The American Century comes to an end as China becomes the world’s largest economy | euronews, economy
- 15International breaking news | euronews online world breaking news in video
- 16Belgium’s former queen Fabiola dies at 86 | euronews, world news
- 17Germans demand honour for Turkish woman beaten to death | euronews, world news
- 18Chechen ‘death’ unit fighting with rebels in eastern Ukraine | euronews, world news
- 19Portugal: Ex-PM José Socrates held in corruption probe | euronews, world news
- 20Pakistan Taliban ‘kill over 100’ in Peshawar school attack | euronews, world news
Wires > News
- 20:37 CET Police officers’ slaying raises pressure on New York mayor
- 20:06 CET Jordan hangs 11 after eight-year death penalty freeze
- 20:03 CET Tunisia’s Essebsi campaign claims vote victory
- 18:54 CET Obama says Sony hack not an act of war
- 18:03 CET Libya’s official government targets rival forces trying to seize…
- 17:47 CET Analysis – Economic issues whip up Israelis in chocolate pudding…
- 16:40 CET U.S.-led forces launch 13 air strikes in Iraq, three in Syria
- 16:18 CET Greek PM offers 2015 election once bailout talks complete