Other venues like the velodrome provide a much needed international standard track in the capital. Olympic stadium will remain an athletic track, but also will be used by West Ham F.C.
Many of the venues will be used after the event, e.g. This helps to reduce congestion and increase productivity. East London has new rail lines (Dockland light railway extension) and improved public transport, including improved international rail station at Stratford. There is a lasting legacy of the Olympics. Building Olympic park has helped to regenerate the East end of London. Hosting Olympics will provide a boost to tourism and travel to London, during the Olympics and hopefully after. (good example of a non-monetary benefits) Not everything can be reduced to simple accounts. It is a ‘once in a lifetime’ opportunity to provide a showcase to the world. Hosting Olympics boosts the prestige of a country. The government spending can be seen as part of an expansionary fiscal policy. Important in times of a recession, when the private construction sector is in a steep decline. The London Olympic logo is truly awful, and according to the Sun newspaper could trigger epilepsy. If the taxpayer has to step in, the Olympics will lose part of its £2.2bn contingency fund. Government spending is already under strain because of the bank bailouts and recession. This increases the cost onto the taxpayers. 
The credit crunch means private sector investment has dried up.This is £1billion that cannot be spent on alternative investment schemes like transport and education in London. It is estimated the cost of the Olympic village could cost up to £1billion. After that, there is a danger of ‘white elephant projects’ – facilities that can not be effectively reused. Many facilities can only be used for the 3-week duration of the Olympics.
#London olympic village cost full
The financial cost of building facilities, which may only be used to their full potential for a short time during games.These include both the monetary costs and benefits and the non-monetary costs and benefits. Readers Question: What are the costs and benefits of the London 2012 Olympics?Ī cost-benefit analysis seeks to examine all the various costs and benefits.
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