Businesses to benefit from the Olympics

Most London firms think 2012 Games will boost tourism and help promote the capital: CBI Survey

  • 92% of firms think that hosting the Olympics and Paralympics will help promote London internationally
  • 76% think they will boost tourism
  • 63% say they are looking forward to the Games
  • A quarter  expect their businesses to benefit directly from the events
  • 64% expect at least the same level of customer and business activity during the Games
  • 76% think the Games will have a positive impact on regeneration

London business optimism

CBI / KPMG London Business Survey: June 2012

  • London businesses are more optimistic than six months ago about the prospects for the economy and for their own companies
  • 41% of respondents say they feel more optimistic about the prospects for the economy over the next six months, a sharp rise from the December survey (13%).
  • 47% of London firms say they feel more positive about their own six-month business prospects, up from 31% in December.
  • The number of employers now freezing their recruitment has more than doubled to 51%, from 23% six months ago, with only 16% now hiring as normal, compared with 54% in the December survey, and the lowest figure for 18 months.
  • A quarter of companies (24%) plan to decrease their investment in IT, equipment, plant and machinery over the next six months, or make no investments at all in this area
  • The number of firms rating London as a good place to do business has risen to 86% from 83% six months ago