i think it's difficult to say at this point what kind of revenue the games will generate and we should bear in bind that the games have just got going, i think a boost can be expected when the athletics start. increased revenue from transport/accommodation/retail is just one aspect but also a huge amount will come from ticket sales, tv rights and sponsorship deals. yes, we won't make back the full amount immediately - but it's an investment - the regeneration of a derelict part of London in my view was a necessity - now rather than costs going towards maintaining a derelict part of London, instead it will become a place that people will want to go and see and live in, the regeneration itself will be a boost for the economy in that area. in addition to creating thousand of jobs during the build-up of the games, it will create social housing, more long-term jobs and fantastic sports facilities. the creation of state of the art-sports facilities for our next-generation of kids in that area of London is something that pleases me the most - i know having lived much of my life in Hackney that they will be made good use of. having the games staged in London will also have big long-term benefits in terms of tourism - as has been expreinced by previous cities that have hosted the games.
A few glorified sports clubs and a tiny fraction of new social housing doesn't justify what some are now saying will end up costing £11bn+. And at what cost in terms of social cleansing in deprived areas?
well maybe when you put it like that. but i would still contend for example that building new hospital/schools is one thing (as was described in that thing you posted) - but financially speaking supplying it with doctors/staff, teachers, supplies/consumables and the actual long-term running costs of those places is quite another matter altogether. the olympics on the other hand will pay in large part for itself in addition to having several long term economical benefits - and these will be largely in one of the poorest parts of London.
What, you mean like giving people permanent jobs to provide essential services if we'd frittered all the money away on schools, hospitals and other non-olympics luxuries? I'm sure we'll find
uses for all the stuff we've built, or like the Millennium Dome we'll sell it to Westfield for a quid to fill with expensive chains where local residents can't afford to shop (except the ones who can afford the new homes!).
In other news,
Boris gets stuck on a zipwire. Should have left him there.
Topic: London 2012 Olympics