London Olympics: Were they a financial success?
Alex Miller investigates whether the financials of the London Olympics will add up as well as the sporting success enjoyed over the summer.
Many financial analysts remain convinced that Britain’s recession-hit economy will not prove to have enjoyed the success at the Olympics that the victorious Team GB did - because it has failed to receive any major financial boost from the games.
It is actually too early to tell whether the 2012 London Olympics itself will make a profit or loss - the official figures are yet to be released - but what is debatable is after fully accounting for all of the costs related to hosting the games, whether an Olympics ever truly makes a profit.
However just this week business groups gave a cautious welcome to the news that the UK economy emerged from recession in the three months from July to September helped on, some say, by the Olympics. Growth was better than expected with the economy growing by 1%, according to official GDP figures.