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London Olympics Detrimental to Local Businesses
The 2012 Olympics Have Had a Detrimental Effect on Local Businesses
According to sources, business at retailers, theaters, hotels, restaurants, eateriesm and museums is down up to thirty percent from the previous year. This is particularly alarming to restaurants. Restaurant margins at low levels to begin with. This decrease in business may have severe effects on the overall health of the local restaurant industry.
Much to the chagrin of businesses, locals are avoiding the area due to increased foot and vehicular traffic.
Tourists who are in London for the 2012 Olympic festivities are staying in the village instead of stepping out to explore local stores and mom & pops. Stores and restaurants immediately at the site report doubling their sales.
Local businesses have reported significant losses while making a mere 66 quid per day.
Only businesses in the immediate vicinity of the Olympic park are reaping the benefits.