Stable economy more influencial than Olympic effect, says BSI

Any success that meeting venues can leverage from the 2012 Olympic Games is likely to be countered or dwarfed by economic factors, according to BSI (Booking Services International).

In its latest report on the event industry – Leveraging the Legacy: The Post-Olympic Meetings and Events Landscape – BSI noted that the strength of the pound, short lead-in times and cost-cutting measures will override any Olympic effect when it comes to generating growth.

BSI said that London’s list of accommodation options and event spaces will not greatly expand in the years following the Olympics, but some venue owners might be inclined to develop their site should they experience a pick-up in fortunes. 

According to conference-news.co.uk, the report also highlighted that improved public transport infrastructure would play a key role in developing a legacy in London, rather than the capital’s increased reputation as a hosting city. However, the report also bemoaned the lack of improvements at London City Airport, which researchers say must be looked at.

BSI’s report includes interviews from industry experts including Excel London managing director David Pegler, who stressed the influence of the economy when lining up his expectations for the coming years.    

“We can’t ignore the Eurozone crisis but people will be requiring meetings and London will be at the front of people’s minds as a result of what they see on TV, read and hear this summer,” he told meetpie.com.   

Also talking in light of the report’s release, BSI’s head of product Jim Quintrell took a more positive standpoint by praising the “stunning delivery of the Games” which has showcased the planning, creative and logistical skills of UK professionals.

A free download of Leveraging the Legacy is available at www.bsi.co.uk/resources.