Olympics to generate 250m for IT sector
Olympics to generate £250m for IT sector
Over 5000 IT and telecoms jobs will be created due to the Games
Londonjob creation to exceed that of Barcelona, Atlanta, Athens and Sydney
The 2012 Olympics in London is set to generate over £250 million for the IT and telecoms job sector, according to research from IT recruiter Greythorn.
The report estimates 5,000 new IT and telecoms jobs will be created in the wake of the Olympics, as London 2012 requires an unprecedented level of technology services to cope with the demands of a modern economy.
In addition to the traditional sectors impacted by the Olympics, like construction, hospitality and retail, the Games will need a vast high-tech infrastructure to support the media presence, as well as putting into place cyber security measures and coping with the IT demands of those sectors.
If 5,000 jobs are created, each with an average salary of £48,562 for IT and technology professionals, that equates to gross earnings of £250.1 million per year.
Paul Winchester, managing director of Greythorn, said, “The IT and telecoms infrastructure required to host the Olympics will leave a significant high-tech footprint on the UK labour market. Before the Olympics begin, emergency service lines need to be secured, WiFi coverage needs to be expanded (including an attempt to get internet access across the tube network in time for the games), and measures must be taken to prevent cyber attacks. The demand for skilled technology professionals is already increasing markedly. Given that 5% of the UK’s 29.12 million strong workforce work in IT and telecoms, and government forecasts suggest 103,000 permanent jobs will be created by the Games, our estimate may be on the conservative side.”