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PM predicts £13bn Olympics boost
David Cameron expects the London 2012 Olympics and Paralympics to bring an extra 13 billion pounds to the UK's economy
David Cameron expects the Olympics and Paralympics to boost the UK's economy by £13 billion over the next four years, he is set to reveal as he pledges to turn the Games "into gold".
In a visit to the East Midlands, the Prime Minister will seek to fuel enthusiasm for London 2012, insisting the country is all set for an "outstanding" event at the "stunning" Olympic Park.
Mr Cameron will say he intends to devote his energy to drumming up business on the back of the global event, which will give the Government a chance to sell Britain to the world.
Despite a price tag in excess of £9bn the Games must not be seen as an "expensive luxury in tough times".
"It is precisely because times are tough that we have got to get everything we can out of them to support jobs and growth in the economy," he is expected to say.
"And that's my mission for London 2012. Because we have built the solid foundations for a successful Games, we are able to focus our efforts on making sure they are a boost for Britain."
Over the summer the Government will host a global investment conference and 17 global business summits at Lancaster House, which will bring together British businesses with potential investors and trading partners.
It expects them to generate deals worth £1bn and total £13bn worth of benefit to the UK economy over the next four years. That includes 4.5m extra visitors and £2.3bn worth of spending from extra tourism.
Mr Cameron will add: "I expect to see benefits to the British economy worth over £1bn. I am confident that we can derive over £13bn benefit to the UK economy over the next four years as a result of hosting the Games. I am certain that when you add in the benefits from construction the total gain will be even greater."
Mr Cameron's official spokesman said the £13 billion figure was calculated by UK Trade and Investment, and included £1 billion in estimated additional sales by British companies, up to £4 billion in high-value opportunities, £6 billion in foreign direct investment, and £2 billion from an increase of around four million in the number of international tourists. The figures were based on an examination of the impact of earlier Olympics, said the spokesman.