The ‘Olympic effect’ is being felt in Manchester as businesses net over £200m in contracts and an addition £30m in revenue.
The North West is taking advantage of the UK being the 2012 host nation and in particular the nine football matches hosted at Old Trafford.
Dr Brian Sloan, Chief Economist at Greater Manchester Chamber of Commerce said that as there were restrictions on publicising involvement with Olympic Games’ contracts it wasn't easy to immediately note the benefits.
However what he has identified brings welcome news to the area struggling with the difficult economic climate.
He said: "It has been confirmed that £212million in contracts for the games has been awarded to North West businesses, with much of this accruing to businesses in Greater Manchester, [and] the area will have hosted nine football matches at Old Trafford by the close of the games.
"The Chamber has estimated that the revenues generated in the region, as a result of these matches alone, will exceed £30m.”
Additional economic benefits to the region include the increased numbers of rail passengers commuting between Manchester and London, and the benefits brought by hosting athletic training camps across the region.
A report by Venn Group reinforces this view, stating that the use of Old Trafford as an Olympic venue had also resulted in an increase in tourism and temporary employment opportunities.