Mixed business benefits from London Olympics

Now Reading:

Mixed business benefits from London Olympics

Text size Aa Aa

There was some rare good news from the recession-hit UK economy as the number of Britons out of work fell to the lowest level in nearly a year in the period from April to June.

However temporary jobs due to the Olympics being held in London seems to have been a big factor as almost half of the new positions created were in the capital.

It seems the Games did not provide the business boost some had hoped for.

The travel trade association UKinbound said a survey of its members showed 88 percent suffered a drop in profits from the same period last year.

The survey found that tourist traffic fell not just in London but around Britain.

The British Hospitality Association said hotels in London had around 80 percent occupancy – lower than usual in August.

London retailers have complained about poor sales as non-Olympic tourists were deterred from visiting during the Games.

In the first week of the Olympics, footfall – that is people entering shops – in the capital’s usually bustling West End was down 4.5 percent year-on-year, according to market research firm Experian.