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Making Money from the Olympics

Updated on August 3, 2013

Making Money from the London 2012 Games

One year on, let's examine and celebrate the legacy of the London 2012 games for business, for sport and for the UK as a whole.

This article includes information for tourists and for businesses on events around the Olympics, including dance, film, live music, events in the London boroughs and more.

Most articles about earning money from the Olympics focus on earning money by renting out your home or a room in your home. And some people earned a small fortune this way.

Big business benefited from large sums of money coming to the Capital. But did small businesses benefit from the Olympics?

One Year On: Remembering the London 2012 Olympics - BBC TV Programmes to Mark the One-Year Anniversary of the Olympics

We all remember the magic, the mystery, the amazement of Isles of Wonder, the Opening Ceremony of the London 2012 Olympics. Now the BBC is showing the director's cut to celebrate the start of the Olympics one year ago.

The London Anniversary Games

Usain Bolt London Anniversary Games
Usain Bolt London Anniversary Games

The governing body's chief executive Niels De Vos has stated that the London Anniversary Games will raise more than 9m for British Athletics.

Between ticket sales and sponsorship, this will be a nice little earner.

The fastest man in the world, Usain Bolt, arrived on a rocket last night before winning the 100 metres, bringing back memories of last year's Olympic gold.

For the games schedule, see above.

One Year On, The Olympic Business Legacy - Have Businesses Made Money from the London 2012 Olympics?

According to recent government figures, the UK economy has had a boost of nearly 10 billion from hosting the London 2012 Olympic Games.

The boost of 9.9 billion has come from investment and trade. Of this figure, 4 billion has gone directly to London.

But many small businesses lost out. London businesses which were local to the games venues found that their custom dropped off dramatically during the Olympics and Paralympics.

Chris Froome Wins the 2013 Tour de France
Chris Froome Wins the 2013 Tour de France

One Year On, The Olympic Sporting Legacy

The Olympic Legacy for British Sport

Hosting the London 2012 Olympics undoubtedly gave a boost to British sport, and the Olympic effect is still being felt in 2013.

Andy Murray, who won gold at London 2012, won Wimbledon this year - the first time in many years that a British male has won at Wimbledon.

And now, Olymbic gold medallist Chris Froome has done it again, winning the Tour de France. In 2012, Bradley Wiggins was the first Brit ever to win this prestigious cycling championship, and also won four gold medals at the London 2012 Olympics.

Thanks to champions like these, many more people are taking up cycling - great for the nation's health!

Are Black-Owned Businesses Making Money from the Olympics? - Black Talk Radio

As a Black business owner, are you making money from the Olympic games?

What impact are the games having on small to medium-sized businesses? How can we best capitalize on large events of this nature? There is enormous potential here.

Listen to the recording of the show below. This is the first in a series on this subject.

Remember the London 2012 Olympics - Games and Books to Remember the London 2012 Olympic Games

Real Food Festival - Real Food Festival during the Paralympics

Visit the Real Food Festival on London's South Bank during the London 2012 Paralympic Games.

A host of vendors are selling a wide range of international foods from around the globe during the Paralympics. Grab some delectable chocolate brownies or slices of chocolate cake or cheesecake, plus organic British food and drink.

I particularly recommend the Indian street food stall, which features mung bean dosas, panni puris and real, pyramid-shaped samosas. All vegetarian, all affordable, and all delicious. Enjoy!

Events around the Olympics

Many events being held around the Olympic and Paralympic Games, involving live music, dance, film and more, and we will provide information about the best ones.

If you are visiting London for the Olympics and Paralympics, you will want to enjoy some of the auxiliary events.

If you are a small business owner, some of these events will provide opportunities for you to earn money.

For more info, see below,. See also, London 2012 Olympics Tourist and Business Info below.

Making Money from the Olympics - How to Make Money - Jobs, plus Advice for Businesses

Is your business profiting from the Olympics? Some businesses in London are reporting their profits are 30% down. Visitors to Greenwich Park walk right businesses on the way to the venue, but are not allowed to leave the queue to shop. Business owners are saying London is empty.

Want to make some money from the London 2012 Games? These resources can help you. Information about jobs and employment, plus resources for businesses.

Olynpics Closing Ceremony
Olynpics Closing Ceremony

Olympics News

Making Money from the Olympics Plus More Olympics News

Landlords who expected to make money from the Olympics are now struggling to find tenants. Landlords are slashing rents on properties they rented out on short lets during the games.

The Olympic Park is being handed over today to the London Legacy Development Corporation, which will manage the park on a long-term basis. Plans for the area include the building of affordable homes.

Ticket sales for the London Paralympic Games have far exceeded expectations. More than 2.7 million tickets have been sold, more than any previous Paralympic Games, and the games have been broadcast to more people in more countries than ever before. .

In a recent poll, the London 2012 Olympics were voted the best in 20 years..

For the Olympics closing ceremony, the stage was set with representations of the London Eye, the Gherkin and Tower Bridge, as the cast of Stomp recreated a day in the life of London - with the Beatles' A Day in the Life playing in the background. Madness played "Our House" - again.

The athletes of all nations came flooding in, mixing with the crowd. There was a wonderful sense of bonhomie, which is as it should be.

An homage to John Lennon, the Who and David Bowie. Plus live appearances by supermodels Naomi Campbell and Kate Moss.

It's great to see an old geezer like Ray Davies singing Waterloo Sunset. And how wonderful to see The Who performing live at the end. And brilliant pyrotechnics.

During the games, the atmosphere in London has become electric. People are wearing the Jamaican flag every which way they can, and draping it over anything and everything they can find, following Usain Bolt's victory. The volunteers, dubbed "Gamesmakers", were said to have been helpful and cheerful. The soldiers who were brought in at the last minute to provide security were universally said to have been professional, helpful and friendly.

There is a sense of collective celebration, a sense that we can do it - we have done it! It is a shared sense of pride in London and in Britain. The shops, restaurants and theatres in central London that were complaining that London was like a ghost town are seeing their patrons return.

And yet, is this translating into success for small local businesses? I went to Brixton recently and talked to small business owners and to stallholders in the market. I am not seeing queues of people lining up to buy from our local Black businesses. The Olympiic euphoria is not leading to an increase in sales. See the radio show above, "Are Black-Owned Businesses Making Money from the Olympics?" for more information.

We must find a way to capitalise on this wave of euphoria so that small business owners - and everyone in the UK - can be making money from the Olympics and can benefit from it in the long term.

The Opening Ceremony was amazing. Well done to Danny Boyle.

Started off quiet, with pastoral scenes and the Industrial Revolution, but became spectacular. The five Olympic rings were forged in fire.

The Artistic Director, Danny Boyle, incorporated film, music, dance and rap in the Olympics opening ceremony. Working alongside Boyle was Paulette Randall, former Artistic Director of Talawa Black Women's Theatre company. I interviewed Talawa on Kuumba-Survivors.com

And the ceremony included Black people arriving - the Windrush generation. It was delightful to hear "My Boy Lollipop" in this multicultural celebration of Britain. I am sure it is because of Paulette Randall that the Black experience was so well-represented in the opening ceremony.

Doreen Lawrence, mother of the murdered teenager Stephen Lawrence, was one of the bearers of the Olympic flag.

Mrs. Lawrence had also been one of the torch-bearers, carrying the Olympic flame in Deptford, Southeast London.

Lowry Turner has described the opening ceremony as "anti-establishment" and said Danny Boyle, unlike the government, has encapsulated what it means to be British,

Daniel Craig as James Bond went to Buckingham Palace to collect the Queen, then the two of them parachuted from a helicopter to the opening ceremony.

Danny Boyle has included the use of children's literature in the opening ceremony - Harry Potter and Mary Poppins. Charming.

First Lady Michelle Obama was in London for the opening ceremony.

Many landlords who expected to make money from the Olympics are now struggling to find tenants. Landlords are now slashing rents on properties they rented on short-term lets during the games.

Landlords who expected to make money from the Olympics are now struggling to find tenants. Landlords are slashing rents on properties they rented on short lets during the games.

Danny Boyle personally thanked each of the 10,000 volunteer actors and dancers yesterday. It took him four hours to shake all of their hands.

It is reported that the "Olympics effect" was beneficial for London's economy. Around 200,000 people worked at the Games - more than 6,000 staff, 70,000 volunteers and 100,000 contractors. That's a lot of work opportunities for people that might be otherwise unemployed.

The number of jobless in London dropped by 50,000 in the three months leading up to May. More than 75% of the UK's fall in unemployment has happened in London. Many of these jobs were created by big constructions projects and by increased tourism due to the Diamond Jubilee and the Olympics. So perhaps living in London is one way of making money from the Olympics.

Video of The Official Fit Les Olympic Anthem

The Official Fit Les Olympic Anthem

The Official Fit Les Olympic Anthem

You gotta exercise, exercise, exercise your right to be heard.

Olympics Security News

News about Olympics Security (The "Omnishambles")

The Army has been called in to supply 3,500 additional troops to the Olympics at the last minute. This is despite the fact that security firm G4S was contracted to provide 13,700 guards. G4S have found this a very profitable way of making money from the Olympics, as their contract gives them 284 million. Apparently, they can only provide 4,000 guards at present, which is not a lot of security guards for 284 million, although they training another 20,000.

It has now emerged that G4S did only minimal screening of applicants for its security services. Young people have described the exam as "ridiculously easy" and people with no security experience have been recruited for key roles such as X-ray operators. The interviews reportedly lasted less than five minutes each.

G4S still plan to claim their 57 management fee despite these major failings, called the "omnishambles", a term first coined in the TV series TwentyTwelve. .

As reported in the Mirror, police officers have had to step in to guard Olympic athletes after most security guards from G4S failed to turn up for work.

Only 17 of an expected 56 G4S staff turned up for their shifts at the hotel which will be home to the British Olympic football squad. Keith Vaz MP, speaking on Sky, has said that this has impacted in Coventry and Manchester, when security guards did not turn up for work and the police had to cover for them.

Meanwhile, at the BBC, an insider from the London Olympics organising committee (Locog) has told Newsnight that they failed to deal with the problems at G4S despite warnings over the last 18 months.

The individual, who does not want to be named, said: "G4S have been appalling."

He claims those in charge of Locog's security were "amateurish" and it was a mistake using one company to supply staff.

Newsnight put these allegations to Locog and they have not responded.

The insider says Locog's event services division used a number of contractors to supply thousands of stewards and that has worked well but the security division put all its eggs in one basket.

"It was the wrong strategy, to use only one company."

He also says that there was inadequate scrutiny.

It is reported that G4S made 7.5 billion ($12 billion) in 2011

Nick Buckles, G4S CEO, has gviven evidence to MPs, who referred to the situation as a "humiliating shambles".

Meanwhile, G4S shares have fallen by 9%. So maybe this was not such a great way of making money from the Olympics.

London Tourism - London travel resources

Visiting London for the Olympics? These resources can help.

Visiting London - Resources for Visitors to London

Olympic Traditions

The Circle as Universal Symbol

The circle is an ancient symbol, evoking continuity, the universe and all of existence, with no beginning and without end. In ancient Britain, stone circles were sacred spaces where communities gathered for nature worship.

In traditional spirituality, a circle is drawn to denote sacred space, separating it from the secular space surrounding it, and to protect those within the circle.

In the opening ceremony of the London 2012 Olympics, Danny Boyle drew on this ancient symbol and connected it to the five Olympic rings.

The Olympic games take their name from Mount Olympus, on which the ancient Greek gods were said to reside. The original Olympics were a sporting competition in in ancient Greece, held every four years in the town of Olympia. The period of four years between each set of games was called an "Olympiad", and became a standard measure of time. This term is still used today.

Although the Greek city states were often at war with each other, a truce was in place before and during the Olympics to allow the athletes to travel to the games in safety.

Because it was considered a religious festival, the Olympics were more important than other competitions. The Olympics consisted primarily of foot races, although later the pentathlon was added. This event survives to this day.

The Olympic Torch is meant to evoke the Olympics of ancient Greece, but in fact originated at the 1938 Berlin Olympics, sometimes known as the "Hitler Olympics.

To Hitler, the Olympics represented an opportunity to show that white people in general, and Germans in particular, were a master race. This plan was destroyed by Jesse Owens, an African American athlete who set several new records at Berlin.

The Olympics are meant to represent peace and harmony among all nations and all individual athletes. The Olympic athletes eat communally in the Olympic Village.

The Olympic Oath is taken by one athlete on behalf of all the competitors, and reads,

"In the name of all competitors, I promise that we shall take part in these Olympic Games, respecting and abiding by the rules that govern them, in the true spirit of sportsmanship, for the glory of sport and the honour of our teams."

A similar oath is taken by the judges.

Venus and Serena Williams at Wimbledon
Venus and Serena Williams at Wimbledon

Venus Williams, 3x Olympic Gold Medallist

Venus Williams Is Proudest of Her Olympic Record

Serena Williams won gold in both singles and doubles at the London 2012 Olympics. In addition to winning her first Olympics singles gold, she won gold in straight sets in the doubles with her sister Venus. Serena is the most decorated tennis player in the world, and said that she has always wanted to win the singles title at the Olympics

Venus Williams, who has won 21 major tennis titles including five Wimbledon Championships, has said that she considers the Olympics to be "the pinnacle of sports", reports the London Evening Standard. Of all of her achievements, she is proudest of her Olympic victories.

No stranger to competing in London, Venus has won three Olympic gold medals in the past.

And she will always be an outstanding champion in her sport. Venus has now cheered on her sister Serena to her fifth Wimbledon championship.

Click here for more about African Americans and the Olympics.

Click here for Black Olympics: The History of Black Olympians from 1904 in Next Black History Events. Plus see a clip from the film Black History: 1968 Olympics below.

African Americans and the Olympics

Black History: 1968 Olympics - African Americans in the Olympics

A clip from the film Black History: 1968 Olympics.

Click here for more about African Americans and the Olympics.

London 2012 Olympics Tourist and Business Info - Information for Tourists and Business Owners on the London 2012 Games

Download information for tourists and for businesses on events around the Olympics for free: dance, film, live music and more, including the as part of the London 2012 Festival.as well as events in the London boroughs. Most of these events are free.

If you are visiting London for the Olympics and Paralympics, you will want to enjoy some of the auxiliary events.

If you are a small business owner, some of these events will provide opportunities for you to earn money.

More London Olympics Tourist Info

Live Site

London 2012 will be running a mini 'Live Site' in Potters Fields Park for the duration of the Olympic and Paralympic Games, 10am-10pm daily. A giant screen will beam pictures of live sporting events to this prestigious location beside Tower Bridge and City Hall.

The park won't be ticketed and entrance will be free, but it will be crowd managed, so when there are more than the approx 4,000 capacity no more people will be allowed in.

London House

City Hall, near Tower Bridge on the south bank of the Thames, will become 'London House' for the duration of the Games, ready for the Mayor of London to welcome VIPs and host delegations from across the globe.

This information is supplied by the Team London Bridge website (see above)

Be Usain Bolt

Another Way of Making Money from the Olympics

In the London 2012 Olympic games, Usain Bolt repeated his Olympic gold medal victories in the 100m, 200m and 4 x 100m events. London erupted in jubilation, as did fans watching in Jamaica.

Jamaicans swept the board at the 100m event, and Bolt, rather than taking a lap of victory on his own, stopped to congratulate his teammates and pose for photos with them.

Being Usain Bolt is another way of making money from the Olympics.

Multi-Olympic gold medallist, Jamaican-born springer Usain Bolt, now features in a series of TV ads for Richard Branson's Virgin Media company. He is said to be earning more than $2 million from the deal.

In the ads for Virgin's superfast broadband, Bolt claims to be Richard Branson. So how do we know he is not also lying about everything else?

Although recently beaten in a race by Prince Harry on a visit to Jamaica, Bolt is still considered to be the fastest man on earth.

Bolt is also said to have signed the biggest-ever athletics sponsorship deal with Puma, reportedly being paid close to 21 million ($36 million). This puts him in line with basketball players, boxers and footballres.

So, if you are looking for another way of making money from the Olympics, try being Usain Bolt.

For more info on how to raise sponsorship funds for your sporting event or business event, see "Making Money from the Olympics", above.

Test Your Olympics Knowledge - Fun Quizzes to Test Your Knowledge of the Olympic Gamess

Check out these fun quizzes to test your Olympics knowledge.

Olympic Park Fly-Through - The Olympic Park shapes up in East London

A fly-through showcasing the Olympic Park as it shapes up in East London

Olympic Torch Relay Route - Route of the Olympic Torch Relay

Sites all over Britain which the Olympic Torch will pass on its way to its final destination in East London

Comments on the London 2012 Olympics

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    • Zhana21 profile image
      Author

      Zhana 5 years ago

      @blidget: Sorry, I don't. I'm going to try to contact Paulette via Talawa.

    • profile image

      blidget 5 years ago

      Hi - great article. I'm trying to get hold of Paulette Randall, we used to work together. Do you have a contact for her agent?? Thanks

    • flinnie lm profile image

      Gloria Freeman 5 years ago from Alabama USA

      Hi I enjoyed reading about blacks in the olympics.

    • profile image

      JoshK47 5 years ago

      Good info! Thanks for sharing!

    • profile image

      Doc_Holliday 5 years ago

      When I think of the Olympics my first thoughts are on strike action and security. Offering transport workers such as train drivers a bonus before the event is clever politics. Here's hoping it all goes well