This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
A year on from the London 2012 opening ceremony, the inspirational power of the Olympic and Paralympic Games is delivering lasting change in sport, communities, the economy, east London and awareness and perceptions around disability.
Speaking about the Olympics legacy, Prime Minister David Cameron said:
With companies across the country we are harnessing the Olympic momentum and delivering the lasting business legacy of the Games that will help make Britain a winner in the global race.
But that’s not where the good news ends. The Games are also delivering a strong social legacy. Last summer, Games Makers changed the way Britain views volunteering. Since then, thousands of people have been inspired to get involved with their local sports clubs.
Economic legacy of London 2012
The UK economy has seen a £9.9 billion trade and investment boost from the London Olympic and Paralympic Games, 1 year into a 4-year programme of activity and events.
This boost comes from businesses securing contract wins, additional sales and new foreign investment in the last year. An independent report projects the total benefit to the UK from hosting London 2012 could reach up to £41 billion by 2020.
1.4 million more people are playing sport at least once a week than in 2005 when the Olympic bid was won. Meanwhile, £1 billion investment is going into youth and community sport over 5 years to encourage greater participation and improve facilities.
The legacy of all the permanent venues on the Olympic Park was secured within a year of the Games – the park has started to reopen this summer with major sports, music and cultural events set to take place.
London 2012 also brought forward investment in east London by a generation and 70,000 unemployed Londoners were helped into Games-related employment, creating a labour market legacy.