The last time the UK hosted the Games was in 1948. Other British cities - Manchester and Birmingham - lost out to rivals to host the 1992, 1996 and 2000 Games, but the capital's dream to host the 2012 Games became a reality when it beat the favourites, Paris, to the prize after months of campaigning. The search for the host has taken two years and was announced on Wednesday 6 July by the International Olympic Committee delegates in Singapore; but, besides the honour, why is it such a big deal?
Regeneration
Plans for a new Olympic park based in the deprived area of Stratford in London's East End presented a powerful case for transforming the social and sporting landscape of the capital. Lord Coe, the London 2012 bid chairman and a double Olympic champion, said the capital was offering a 'vision of inspiration and legacy' for future generations and if it all goes to plan, he won't be far off.
This vision includes existing landmarks and sporting venues - for example, tennis at Wimbledon and beach volleyball along Horseguards Parade - as well as proposing new ones, including a new national athletics stadium, aquatic centre and velodrome (cycling track) for London and several temporary venues (for preparation and training) elsewhere in the UK.
The construction work alone will create new jobs and give businesses a boost. According to the official Olympic bid website, staging the Games in London will create around 9,000 new full-time jobs, of which 3,000 will be in the local East End economy, with businesses being encouraged to relocate to the area through improved technological and transport links.
Transport
One of the key stumbling blocks to the bid was seen as the transport issue. As it is, London residents struggle to get around this sprawling city, with Tube networks frequently failing and gridlock on the roads. However, this is set to change, at least during the Games. Transport for London is aiming to ensure that:
Every Games venue is accessible by rail, and by 2012 a choice of 10 rail routes will serve the Olympic Park at Stratford, with a train every 15 seconds
£1 billion per year will be invested in improving London Underground, resulting in a 45% increase in capacity on the Jubilee Line, which will serve the main Olympic facilities
By 2012, the high-speed Channel Tunnel Rail Link extension will take people from Kings Cross-St Pancras to Stratford in seven minutes.
Tourism
Sometimes we are not the friendliest of nations towards our visitors, but before you sneer at a bewildered tourist again, think about this: an independent study has shown that there was over £2 billion in inbound tourism spending in Australia attributable to the staging of the Olympics in 2000. Show me the money!
Future talent
The increase in investment for sports facilities will give the UK the perfect opportunity to spot and develop young talent and attract world-class competitors and coaches. Rising star, 14-year-old Elizabeth Simmons (a finalist in the 2004 British Olympic trials in both the 100m backstroke and the 200m individual medley), spoke to the BBC, saying, 'The new aquatic centre that they will build is going to be really important for the sport.' Great Britain's Olympic team won't have to acclimatise to a new climate and will also be performing in front of a home crowd. Both Spain and Australia achieved their highest medal tally on home soil, so things are looking hopeful on the podium front, too.
The Games brings with it the promise of new jobs and homes, new businesses, better transport facilities and a sporting legacy for generations. There's a lot of work to be done, but the future looks bright.
