Olympic Games to hit tourism industry

PEOPLE INVOLVED with the tourism industry would suffer heavy losses due to the London Olympic Games, 2012, which are scheduled to start on 27 July and end on 12 August 2012. One trade association also feels that during the time, income would be dropping down to 3.5 billion pounds, as reported by ANI. This would probably happen as the organisers of the games have increased the hotel rates.

If this indeed happens, it would seriously be a great setback for the hoteliers as they have been looking up to the games, which was supposed to provide them with lots of revenues. They had even been trying to provide the best of facilities for the tourists. But, what is the use if there is no tourist inflow into their hotels.

It was also expected that the revenue earned form the Tourism industry would cover up for the losses that were suffered by the LOCOG, during or before the games. All their hopes also have been dashed.  It was so foolish of the LOCOG to book more than what was required. The Independent reports that 600,000 nights had been booked by them for the mega spectacle for various media, sponsors, delegates, etc. But, they have now returned 120,000 of those bookings. With just a few months away, it could have been better if they had given this information before hand, so as to give the hotelier’s time to recover their losses and hire these rooms to other tourists.

It may be a case, where ‘one man’s loss is another’s gain’, as tourists may head to other cities so as to get an affordable accommodation. The Independent also states that the hotel rates have gone up three times and around one million beds would be empty during the games.

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