2012 London Olympics will help UK economy
Hope for Britain’s economic recovery lies partly in massive infrastructure projects for the 2012 London Olympics. Total spending is estimated to be around £9.3 (US$13.8) billion. However, the organizers stress that this will be nothing like the flamboyant US$42 billion 2008 Beijing Olympics, and promise that there will be no white elephants left after the event. There will be two major beneficiaries of the 2012 games:
London’s crumbling mass transport system;
East London, where the Olympic Stadium, the Olympic Village and other major facilities will be located.
To accommodate the massive numbers of people moving across the city, major improvements to the transport system include the expansion of London Underground's East London Line, upgrades to the Docklands Light Railway and the North London Line, and the new "Javelin" high-speed rail service. East London was the site of the city’s early industrial development. As the economy shifted to more service-oriented industries, it became one of the city’s poorest areas. The Olympic Delivery Authority has allotted £3.1bn for the construction of the Olympic Park and venues and £1.7bn for regeneration and infrastructure. The budget includes £1 (US$1.5) billion for the Olympic Village, and £400 million for the media centre.