Stratford
Almost £9.3bn has been spent on the Games, with 75 per cent earmarked for regeneration projects
Westfield mall has created 10,000 jobs and attracted shoppers to deprived area of east London
But residents say other parts have been forgotten and they can't see where the money has gone
Olympic Zone
The Olympic Zone encompasses all of the facilities within the 500 acre (2 km²) Olympic Park in Stratford. This park was developed on existing waste and industrial land, just seven minutes by Olympic Javelin train from central London.
Budget
As of the time of the bid, projections for the cost of the 2012 Olympics were low. The bid team believed that London could end the Games with a surplus of more than £100 million. The organising committee laid out the following figures: * £560 million for new venues, including £250 million for the Olympic Stadium. * £650 million for the Olympic village. * £1.5 billion to run the Games. * £200 million on security.
The revenue for the games was also projected: * £1.5 billion from a special Olympic National Lottery game. * £625 million from a council tax surcharge of £20 per year for London households. * £560 million from IOC television and marketing deals. * £450 million from sponsorship and official suppliers. * £300 million from ticket sales. * £250 million from the London Development Agency. * £60 million from licensing.
While this projection seemed reasonable many were adamant about the actual costs. In early 2007, it was suggested that the actual cost of the games could exceed £9.35bn (US$18.03 billion), well over the bid projection. For comparison, the 2004 games in Athens cost around £7bn (US$13.5 billion) and estimates for the 2008 games in Beijing run between £10bn and £20bn (US$19 billion and US$39 billion). Aside from the much-vaunted regeneration benefits for the community in around Stratford, already the site of the £4bn Stratford City development, the staging of the
Westfield mall has created 10,000 jobs and attracted shoppers to deprived area of east London
But residents say other parts have been forgotten and they can't see where the money has gone
Olympic Zone
The Olympic Zone encompasses all of the facilities within the 500 acre (2 km²) Olympic Park in Stratford. This park was developed on existing waste and industrial land, just seven minutes by Olympic Javelin train from central London.
Budget
As of the time of the bid, projections for the cost of the 2012 Olympics were low. The bid team believed that London could end the Games with a surplus of more than £100 million. The organising committee laid out the following figures: * £560 million for new venues, including £250 million for the Olympic Stadium. * £650 million for the Olympic village. * £1.5 billion to run the Games. * £200 million on security.
The revenue for the games was also projected: * £1.5 billion from a special Olympic National Lottery game. * £625 million from a council tax surcharge of £20 per year for London households. * £560 million from IOC television and marketing deals. * £450 million from sponsorship and official suppliers. * £300 million from ticket sales. * £250 million from the London Development Agency. * £60 million from licensing.
While this projection seemed reasonable many were adamant about the actual costs. In early 2007, it was suggested that the actual cost of the games could exceed £9.35bn (US$18.03 billion), well over the bid projection. For comparison, the 2004 games in Athens cost around £7bn (US$13.5 billion) and estimates for the 2008 games in Beijing run between £10bn and £20bn (US$19 billion and US$39 billion). Aside from the much-vaunted regeneration benefits for the community in around Stratford, already the site of the £4bn Stratford City development, the staging of the