The Olympic Games: Their Economic Impact

29th August 2016
Olympic Rings and Continents

From enjoying the London 2012 Olympics to an outstanding performance by Team GB in Rio 2016, we’ve taken a look at the economic and jobs impact of the games, and their wider benefit to individuals in both Rio, and London from back in 2012.

Odd Jobs in Rio

The BBC listed some weird and wonderful jobs up for grabs at the Rio Olympics. We’ve covered panda petting jobs before, and being in charge of a whole island for a year – here are some odd jobs from the latest, greatest sporting Olympics in Rio.

• Lifeguards protecting the world’s best swimmers – it’s a Brazilian law that gave humble lifeguards the best seats in the house, but it’s arguably less than essential!

• The “Condom Man” – despite each athlete being issued with a staggering 42 condoms each for the two week event, Eric’s job was to walk around the athlete’s village with a sack of condoms! He was a social media favourite among many of the athletes

How London 2012 Affected UK Jobs

Looking back to 4 years ago it’s astounding to look at the positive impact on jobs the London 2012 Olympics had. These included;

• Independent experts claiming the Games preparations contributed to a 1.2% reduction in unemployment in 2012

• More than 46,000 people who worked in the Olympic Park and Olympic Village

• Jobs spread from construction where the host Borough of Newham employed over 4,000 people to retail where the Westfield Stratford shopping centre created 10,000 new permanent jobs

• Construction workers employed by the games who were reported to have earned on average £40,000 each

• At the close of London 2012, £14 billion in deals were announced, strengthening the UK’s international business legacy

70,000 people served as Games Maker volunteers, offering their time and support to the games for free

• And finally, an estimated London 2012 income generation figure of £16.5 billion from 2015 up until 2017

A Worldwide Impact

It’s wonderful to look back at the impact on UK jobs and the economy as a result of the Olympic Games. From volunteering to construction, retail and logistics, the greatest show on earth brings with it some wonderful employment opportunities.

"At the close of London 2012, £14 billion in deals were announced, strengthening the UK’s international business legacy"