London Olympics Branded A 'Complete And Utter Disaster' For London Business

[beijingwalker]

The Olympics Called A 'Complete And Utter Disaster' For London Businesses
Ashley Lutz | Aug. 3, 2012, 10:02 AM | 11,712 | 34


Dan Kitwood / Getty Images

An unusually quiet Carnaby Street in Soho on July 31, 2012 in London, England.

London businesses are seeing a drastic drop in sales as natives avoid leaving their homes during the Olympic games.

From restaurants to hotels, everyone's hurting, reports Samantha Conti at Women's Wear Daily.

“The Olympic Games have been a complete and utter disaster. The shops are empty, the bars are empty, the restaurants are empty,” Steve McNamara, general secretary of the Licensed Taxi Drivers’ Association, said in the Daily Telegraph this week.

He also said that taxi drivers have seen a 20 to 40 percent drop in their income this month.

And WWD profiled a retailer who was disappointed by Olympic traffic:

The New West End Company — which represents businesses on Oxford, Bond and Regent streets — estimated earlier this year that retailers in London’s West End would make 16.6 million pounds, or $26 million at current exchange, in additional revenue as a direct result of the Olympics.

But earlier this week, they were forced to take action to drive shoppers back into the town center.

“We have been working on measures to reverse the significant drop in retail spending and visitors into the West End,” the company said in a statement that was sent to its member retailers, and which was seen by WWD. “The forecasts for this summer predicted a different trading pattern and the lack of London workers and domestic visitors has been quickly apparent as a result of Transport for London traffic demand management.”

So far, the Olympics haven't been the stimulus that Londoners had hoped for.

London Olympics Branded A 'Disaster' For Local Businesses - Business Insider

 

[SinoChallenger]

Ironic that the Olympics will break the coffers and end the NHS shown in the opening ceremony

 

[T90TankGuy]

things dont always work out as planed . such is life

 

[Lone Shooter]

I think the high prices of tickets followed by the high cost of hotel rooms and travel expenses have caused lot of potential visitors to unpack their travel bags. hundred of thousands of visitor to any city or for that matter to a country make an enormous boost to its economy in so many ways, which in lot of cases is also the main reason in the struggle to host the games in the first place.

 

[asad71]

London’s Militarised Olympic Games Conjures Up Orwell’s 1984


London’s Militarised Olympic Games Conjures Up Orwell’s 1984

by Finian Cunningham

 

[Damadji]

London games are big shame for britishers

We Asians can fight among ourselves but should be united against these racist west

This London Olympics are big shame fixing in badminton, racism in boxing, us athletes gets missing for 4 hours, 5.8 feet bed for athletes, cable cars get stuck for hours, security breach the list is very very long .......................

 

[isro2222]

@damadji i have been telling that since day one.... am glad its proven in a week.... Hold on your breaths.... Still a week to go.... Big shame on the brits....