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Hotels and restaurants in London actually lost money during the Olympics this summer

Excerpt from BigHospitality

Nov 16, 2012 7:30 am

Skift Take

An overall boost to tourism in the UK is expected to wash out the short-term losses as inbound visitor numbers may increase in the coming months.

— Samantha Shankman

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Megan Eaves  / Flickr.com

Construction begins in London for the 2012 Olympic Games. Megan Eaves / Flickr.com


Tourism figures released this week indicate that Britain is well-placed to build on encouraging inbound Olympic visitors, but a post-Games review by foodservice consultancy Horizons shows that the event actually came at a big cost for hotels, restaurants and pubs.

September’s International Passenger Survey issued by the Office for National Statistics reveals that visitor numbers were up by 1 per cent (2.63m) and that visitor spending reached a record £1.9bn (an increase of 17 per cent); overseas visitor spend in the UK is now 5 per cent higher than in the first nine months of 2011.

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