The benefit to the UK for staging the 2012 Olympic Games has reached £13bn.
British companies continue to capitalise on the success of the event and have won contracts from countries now pursuing other similar events.
Brazil 2014 World Cup and Rio 2016 Olympic and Paralympic Games now have contracts worth £130m signed with UK firms.
The UK has agreed to collaborate with Japan on planning the Tokyo 2020 Olympic Games and the 2019 Rugby World Cup, which should lead to yet further benefits.
The Toyko Games could be worth billions to the UK economy and supply chain deals could benefit small businesses as well as larger ones, according to the department of Business, Innovation and Skills.
A Memorandum of Co-operation between Japan and the UK will be signed on Friday, with Japanese Prime Minister Shinzo Abe present.
UK company Aecom won an international competition to design the 2016 Olympic park master plan while British companies Blue Cube and International Stadia Group have secured separate deals to provide seats for various World Cup stadiums.
Steer Davies Gleave, a UK consultancy firm, will provide transport consultancy to nine World Cup cities, including Rio de Janeiro. The company helped the Olympic Delivery Authority on transport planning for the London 2012 Games.
Russia’s 2014 Winter Olympics in Sochi also brought contracts to more than 60 UK companies, most of them mid-sized businesses.
Lord Livingston, Trade and Investment Minister, said UK companies have shown their skill at staging large events through the London 2012 Games.
“The delivery of London 2012 on time and under budget has shown the world that the UK has a significant amount of expertise in staging large scale events”, he said.
Comments
The fact that it then came in a few million under £9.3bn is hardly under budget.
Ministers of Livingstons ilk make up policy and budgets on the fly to suit their personal requirements.