London won a surprise victory on Wednesday to host the 2012 Olympic Games, sending the worldwide sporting event to the British capital for the first time since 1948 and holding the potential for billions of pounds in construction spending.
London’s victory over favored rival Paris, by a 54-50 margin, elicited cheers from Trafalgar Square to the City of London financial center.
It may result in some 10 billion pounds ($17.5 billion) being poured into the U.K. construction sector. The news sent U.K.-based tourism, home-building and construction stocks higher.
Gainers in London included British construction group Hanson PLC (HNSHNS)(HAN), which rose 1.6%, caterer Compass Group PLC (CPGCPG), which gained 2.4% and hotels company Hilton Group (HGHG), which rose 1.4%.
“London 2012 is not just good for sport, the capital, or for the economy – it’s great for the whole nation in the long term,” said Alex Kyriakidis, head of the tourism, hospitality and leisure practice of consulting firm Deloitte.
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Bobby Deol has become the first Indian actor to support the Mayor of London’s travel awareness initiative, called ‘good going: travel awareness in London’ and chose the London Borough of Harrow as the place to make the announcement.
Bobby was in London recently promoting his new film Barsaat which marks the first Bollywood film tie-in with a Mayor of London scheme. ‘good going’, a Transport for London initiative is aimed at encouraging Londoners to travel by bike, public transport, walking and car sharing in a bid to cut congestion, pollution and improve the air quality in London.
Bobby’s new
Despite the terrorist attacks in London, few Wilkes-Barre residents who had planned to travel to the British capital are changing their plans.
Agents at several travel agencies said on Thursday and Friday there had been no cancellations to the United Kingdom. Many agents said they had gotten concerned calls from customers. The concerns weren't about getting caught in another attack, though.
Joanne Schall, vice president of Tenebaum's Travel, said people were concerned about being able to "move about the city without having a lockdown."
Rachel Altemose at Tucker's Travel echoed that.
"Nobody has really expressed concern for personal safety," she said.
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London offers 2012 travel package
London's Olympic bid team has offered athletes and team officials a package including free flights to the Games if the city wins hosting rights for 2012.
Promises also include £53 each in telephone calls, free train travel and free accommodation for family members.
On Sunday, London's team revealed a number of incentives for members of international sporting bodies.
The announcements are aimed at boosting London's case against Paris, New York, Madrid and Moscow for the vote in July.
London's bid leader Lord Coe made the pledges, which would be likely to cost the organising committee about
Tourism arrivals will rise by at least 8 percent this year, according to the Institute for Tourism Research and Forecasts (ITEP), which noted a 60 percent increase in incoming flights this month compared to the same period in 2004. Crete and the Dodecanese Islands were the most popular destinations, ITEP revealed ahead of today’s World Tourism Day.
The Association of Greek Tourism Enterprises highlighted the dependence of the tourism sector upon air travel, noting that more than 80 percent of foreign visitors arrive in Greece by plane. It also grasped the opportunity to criticize state carrier Olympic Airlines for “poisoning free
James Purnell, the newly appointed minister for tourism, is the author of an outspoken article which attacked the proposed London bid for the 2012 Olympic Games as a waste of £5 billion and the "wrong priority" for Britain.
Mr Purnell's attack on the Games bid was made just ahead of the Cabinet's decision - in 2003 - on whether to support the attempt to bring the event to Britain for the first time in more than 60 years. Urged on by Tony Blair, the Cabinet gave the bid its full endorsement - despite Mr Purnell's article, written in his capacity as
