Olympics economic hopes up in smoke

While British officials hoped that 600,000 to 700,000 Olympics tourists would visit the country in July and August, tourism officials have said the overall number of tourists in 2012 would be almost the same as that in 2011, reported The Wall Street Journal.

Moreover, a survey by UKInbound, a tourism trade association, showed that 50 percent of the attractions and hotel operators expect a decline in the number of tourists in July and August compared to the same period in 2011.

“The industry is very concerned and the government should be too,” said the chief executive of UKInbound, Mary Rance.

The newspaper reported that travelers would avoid London due to high costs of accommodation. However, what exacerbates the situation is a “real absence of consumer confidence”.

“Arguably, the usual traveler has been put off by the higher hotel prices,” said Jason Doll-Steinberg, director of tour operator British Tours Ltd.

This comes as Britain’s Culture Secretary Jeremy Hunt, who has been urged to resign over his links to Rupert Murdoch’s BSkyB bid, says the London Olympics was set to come in under its £9.3 billion budget.

However, independent investigations say the true cost of staging the 2012 Olympics could be as high as £24 billion, ten times more than the estimated cost of £2.4 billion.

ISH/JR/HE

Views: 0

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes