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Britain smashes Olympic legacy economic target

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It was hoped London 2012 could help deliver £11bn in economic benefits within four years but it has emerged today that the Games have helped secure £11.06bn in little more than a year. 

Host nations of future international sports competitions including Sochi’s Winter Olympics, Brazil’s World Cup and Rio’s Summer Olympics have turned to the expertise of UK companies to help deliver their events.

Cundall, a UK engineering consultancy, helped develop the Lee Valley White Water Centre for London 2012 and is now helping design the white water course for Rio 2016. 

Carole O’Neil, a partner at Cundall said: “London 2012 showcased UK expertise and talent to the world and has helped us to win work at Rio 2016. Our ambition now is to win work at every Olympics.

“I would encourage other companies thinking about growing their business to look overseas and exploit the demand for products that are made and designed by British companies.”

Trade and Investment Minister Lord Green said: “The delivery of London 2012 on time and on budget led to hosting nations turning to the UK to help deliver their own events with supply opportunities running into the billions.

“UK Trade & Investment has played a key role in helping British companies maximise these opportunities and the result is a £11.06bn boost to the UK economy from the Games, reaching our four year target in just over a year.”

The announcement comes at the end of Export Week, a series of events up and down the county aimed at helping UK businesses expand their overseas operations. 

Lord Green added: “The UK’s future prosperity will not come from relying on domestic markets alone and we have seen a major push to encourage firms across the UK to sell overseas during our biggest Export Week yet.”

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