Economic Impact from the Tourism Promotion from London 2012 Olympics

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ABSTRACT

Tourism, in fact, has a number of features that make it an activity to be considered in the development process, so that its eco- proper management can generate a series of positive effects on economic development in any territory. In the last 10 years, employment and share of global gross domestic product has made tourism one of the major industries in the world. This industry has grown quickly and changed at an incredibly fast rate. Tourism is also responsible for the diffusion of different cultures because due to tourism people from different cultural backgrounds come together and establishes a direct link with the locals. It is also a good means of providing peaceful and friendly connection with people of different nation and languages. This paper discusses the impact of London Olympics 2012 on sports tourism and the overall economy of UK.

TABLE OF CONTENTS

ABSTRACTII

CHAPTER 1: INTRODUCTION1

Research Background1

Research Questions1

CHAPTER 2: LITERATURE REVIEW3

Sports Tourism3

Economic Impact of Sports Tourism5

Benefits of Sport Tourism5

CHAPTER 3: METHODOLOGY8

CHAPTER 4: LIMITATIONS OF THE RESEARCH9

REFERENCES10

APPENDIX11

Timeline for the Research11

CHAPTER 1: INTRODUCTION

Research Background

Tourism and recreation have become one of major socio-economic activities of the old continent from the point of view of employment, contribution to GDP, and growth in demand (Jameson 2002, p. 41). These activities generate substantial revenue and jobs, promote knowledge of other cultures and leads to the preservation of cultural and natural heritage and investments in infrastructure, resulting benefits, both economic and social. But not everything is positive; some forms of tourism and certain recreational activities can lead to habitat destruction, the deterioration of landscape and a competition for scarce resources and services (freshwater, land, energy, wastewater treatment, etc).

There is no free lunch in economics. London Olympics 2012, although promising a host of economic opportunities from tourism, also have the potential to have substantial costs. Sustainable tourism and ecotourism are two buzzwords that have generated considerable debate in the tourism literature regarding their definitions, attainability, implementation and consequences. Much of this debate since the late 1980s has revolved around the issue of sustainability. Economic sustainability requires maximizing value along the tourism supply/demand chain, as well as addressing important social political issues like land tenure and governance, to increase tourism revenue for local as well as international and national operators.

Research Questions

What is the impact of sports tourism on economy with reference to London 2012 Olympics?

How will the promotion of tourism-driven economy impact on economic well being of UK?

What are the present and potential opportunities arising out of London 2012 Olympics?

CHAPTER 2: LITERATURE REVIEW

Sports Tourism

Sport tourism is a very significant element in world tourism, and has become a highly competitive niche tourism business (Edgell 2006, p. 12). As interest and participation in sport grows within the leisure industry, the desire of people to travel to compete or to spectate has mushroomed. Sport tourism is about more than just hosting great events. It offers the potential for something much broader, including opportunities for the hosting country to raise its identity ...