Most London firms think 2012 games will boost tourism and help promote the capital - CBI

With a month to go, a CBI survey of more than 250 London companies reveals that the majority are positive about the 2012 Games.

 

Nearly all firms (92%) think that hosting the Olympics and Paralympics will help promote London internationally, three-quarters (76%) think they will boost tourism, and 63% say they are looking forward to the Games.

 

A quarter of respondents expect their businesses to benefit directly from the events and two-thirds of companies (64%) expect at least the same level of customer and business activity during the Games.

 

While the number of businesses who feel confident about dealing with the transport and logistics issues during the Games has risen 5% since last year to 37%, the scale of the challenge is becoming increasingly clear, as 46% are still nervous about their level of preparedness.

 

Half of employers (50%) intend to let their employees work from home during the Games and 57% will adapt their working hours, while 46% of firms say they will allow employees to have time off to attend events.

 

Sara Parker, CBI London Director, said:

 

“The 2012 Games will help showcase London around the world and will be good for the economy.

 

“But with only a month to go, the scale of the challenge is becoming clear and some businesses are still nervous about their levels of preparedness. That’s why it’s crucial that all companies ensure they plan ahead, particularly for the transport and logistical challenges.

 

“It’s encouraging that many firms are already thinking about flexible working during the Games, but with a huge influx of people expected in the capital in a matter of weeks, those who haven’t prepared need to turn their attention to this as a matter of urgency.”

In terms of logistics planning during the Games, 13% of companies will stockpile supplies and 12% will reduce deliveries. Although 80% of respondents have not planned any special measures, 29% are unsure of suppliers’ ability to get deliveries to them during the Games period.

 

The number of businesses who do not feel that they have enough information in order to plan for Games has fallen in the last six months.

 

 

Turning to what businesses think about the Olympics and Paralympics, three-quarters of respondents (76%) think the Games will have a positive impact on regeneration and half (51%) think they will help improve transport. Enhancing skill levels remains the area where firms think the Games will have the least impact (37%).