10 years on: how has the London Olympics “legacy” panned out?

The 2012 Games would benefit not just athletes and spectators, but the whole economy over the longer term, we were told at the time. Ten years on, how has that panned out? Simon Wilson reports.

Olympics
A ruthless “money-for-medals” government strategy paid off handsomely in London 2012.
(Image credit: © Getty)

Is there a legacy?

The picture is inevitably mixed, but overall London 2012’s legacy is looking pretty positive, yes. In purely sporting terms, the most striking legacy has been the boost to performance of Great Britain’s elite sportsmen and women. In 2012, Team GB triumphed with 65 medals, 29 of them gold, placing us third in the medal table behind the US and China. That compares with just 30 medals, and only nine golds, in Athens in 2004. Back in 1996, in Atlanta, we won only 15 medals and a solitary gold. The success reflects massive investment by the UK government in elite sport in the run-up to 2012 and a ruthless “money-formedals” funding formula

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Simon Wilson’s first career was in book publishing, as an economics editor at Routledge, and as a publisher of non-fiction at Random House, specialising in popular business and management books. While there, he published Customers.com, a bestselling classic of the early days of e-commerce, and The Money or Your Life: Reuniting Work and Joy, an inspirational book that helped inspire its publisher towards a post-corporate, portfolio life.   

Since 2001, he has been a writer for MoneyWeek, a financial copywriter, and a long-time contributing editor at The Week. Simon also works as an actor and corporate trainer; current and past clients include investment banks, the Bank of England, the UK government, several Magic Circle law firms and all of the Big Four accountancy firms. He has a degree in languages (German and Spanish) and social and political sciences from the University of Cambridge.