OLYMPICS 2012

Success of London Olympics 2012



Introduction3

Discussion4

Literature review4

The Strategy for Sustainable Construction7

PESTEL Analysis8

Political8

Economic8

Legal8

Technical9

Social & Cultural9

Environmental9

Critical success factors (CSFs)10

Findings10

Conclusion11

References13

Success of London Olympics 2012

Introduction

“The 'legacy' of the Olympic Games will be manifold. Many areas of London and other parts of the UK and the lives of thousands of individuals will be touched by the Games. There will be many intangible benefits, and a significant effect on the reputation of London lasting for decades”.(Fussy,Pp.54,2012)

The existing studies have explored the relationship between Olympic Games, the planned regeneration of the area and property values. However, few have looked at the relationship between Olympic Games and desire for people to invest and relocate to this part of the city. It is hoped, therefore, that, at a higher level, this report shall make a contribution to a field of research, which has been little studied, but which undoubtedly has implications for planners, businesses, investors and the local population. It should, however, be noted that Olympics are never held in the same country twice, thus constructing predictions based on the previous case studies should be made with care, and take into account that all views are merely speculative as Olympic development is yet to be completed in London.

All findings derived from literature research, analysis and findings presented in the conclusion. The purpose of this report is to examine the success of the 2012 London's Olympic Games and implication it caused on the sustainability within East London area. The report delivers an area and infrastructure development overview, economical and Pestle analysis, and shows both the advantages and disadvantages of hosting the games.

The Olympic legacy is that after the games, East London will receive facelift; a large park and the athletes' village will become at least 5000 homes. Many of the key investment areas within once bleak East London are likely to be positively impacted by new infrastructure developments in the years to follow. Despite the recent global financial recession a rapid recovery is soon expected with property price increase in East London starting 2010 and onwards. London is likely to stay a significant global financial centre that provides relatively high paid employment.(Berman,Pp.56,2009)

Discussion

Literature review

The hosting of an Olympic Games has a significant impact on the Host City however, publication “The environment and sustainable development update ” asks a valid question: “to what extent, with what results and with what benefits ”. (International Olympic Committee, 2009) Most of the publications on Olympics and other major events that were researched are relevant in order to answer the main question of this project paper, whether the regeneration of East London will make it attractive for people to relocate to, and will the likely trends follow. The main subjects covered in the literature are the economic impact of the Games on the city and its implication of consumer spending behavior, improvements in infrastructure and transport that makes the area more desirable for people to live in.(Coalter,Pp.92,2004)

The economic downturn has affected every aspect of business market in one way or another, and property market is not ...