UK: London Olympics to generate £300m for wine trade, says study
UK: London Olympics to generate £300m for wine trade, says study
Jan 19, 2012 6
(Decanter) - London's hotels, restaurants, pubs and bars stand to make an extra £300m from the Olympics - but there are major challenges to overcome as well, new research suggests. Wine distributor Bibendum reckons that food and drink spend in the capital’s on-trade will soar to £1.24bn during 2012, up from an estimated figure of £917m in 2011.
Roughly half the spend will be made in hotels, while pubs and bars will take about one-third of the total, and about 13% will be spent in restaurants.
However, the research, undertaken with the Local Data Company, also illustrates the potential disruption that this summer’s Olympic Games will cause.
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