Dominion Acquisitions: Can the 2012 Olympic Games Help Boost Britain’s Economy?

According to an article published in the Guardian the British economy has sunk deeper into recession. Adina Stoleru at Dominion Acquisitions raises the question ‘Can the Olympic Games boost the economy?’

Recent GDP figures show an alarming decrease of 0.7% in the second quarter of 2012. Adina Stoleru at Dominion Acquisitions explains: “The improved infrastructure and the amount of visitors coming to the UK during the Olympic Games offer great conditions for a growing economy.” However, records from previous hosts may suggest that it is too early to make such prediction.

London is hosting its third Olympic Games. “It is an amazing opportunity to experience the spirit of the Olympics here in the UK”, says Adina Stoleru at Dominion Acquisitions. “London 2012 has created new jobs in many different sectors, a great amount of international visitors are coming to the country which will bring extra revenue and the UK’s extended infrastructure creating enhanced conditions for businesses”, continues Adina Stoleru at Dominion Acquisitions. Expectations are high and the Games seem to create fabulous conditions for a boost to Britain’s economy.

Not everyone seems as optimistic as Adina Stoleru at Dominion Acquisitions. Citi’s Michael Saunders, who examined ten Olympics held between 1964 and 2008, has explained to Guardian.co.uk that even though there is growth in the run-up to the event, the effect starts to fall away even before the tournament begins; and afterwards growth tends to be weaker. Saunders explains that the positives like job creation during the construction and planning of the Olympics would be lost long before the opening ceremony. He also states that the anticipation of extra revenue from foreign visitors is predicted to fail, as other visitors who may have come to the UK anyway might change the timing of their visit due to the Games. An example shows that Australia had seen a 16% increase in short-term visitors in September 2000 during the Olympic games in Sydney; however visits then declined for three years afterwards.

Even though Saunders is not expecting extensive growth of the UK’s economy this year, Adina Stoleru at Dominion Acquisitions has a positive attitude towards the Olympic Games 2012. Adina Stoleru sees great opportunities for businesses in Great Britain. “The Government is very focused on business creation and innovation and there are fantastic networking opportunities for entrepreneurs during London 2012.” Adina Stoleru, Managing Director of Dominion Acquisitions, a direct sales and marketing company, had already seen an increase in sales in the last two weeks when visitors started to arrive in the country. Adina Stoleru continues: “We at Dominion Acquisitions are looking forward to a fantastic summer with great business opportunities to make the third quarter of the year a great success.”

London 2012 has created new jobs in many different sectors, a great amount of international visitors are coming to the country which will bring extra revenue

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