Long-term Economic Impact of the Staging Summer Olympic Games 2012 on London

The study shows that the Summer Olympics had a insignificant impact on most of the economic and socio-economic areas in London. The urban regeneration associated with the Summer Olympics did not lead to a significant improvement in living conditions in East London where the games were located. The positive impact can be seen in partial convergence with London in only a few parts of East London as it was closest to the Olympic construction. The convergence took place in the areas of education, environment and crime. In the case of employment, we see a positive impact in the same part of the city, but only in the pre-Olympic years. In addition to the city districts located closest to the Olympic Park, same as with other indicators, has not confirmed any significant impact of the positive investment in organizing Summer Olympics on real estate prices, which also reflects other monitored indicators.In addition to the economic impact, the work compares the financing of the Olympic Games and records two main conclusions. Firstly, although costs are rising at both constant prices, the inflation is an important factor in the growth of the cost of the games, and costs are rising even when per capita costs are explored. Secondly, most likely, the Olympic Games are profitable for organizing committees, also because the organizing state takes other non-operative expenses of the games to its shoulders.