a lasting legacy-

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1、ALastingLegacy:‘HowcanLondonfullyexploittheopportunitiescreatedbytheOlympicGamesintherecoveryandto2030?’SummaryLondonneedstomakethemostoftheopportunitiescreatedbytheOlympicstostrengthenitslong-termcompetitivenessandensurethatallLondonershaveanopportunityt

2、obenefitfromeconomicgrowth.WorkisongoingtocapitaliseupontheOlympicGamestomakeadifferencetothephysicalinfrastructureandsocio-economicoutcomesinEastLondon.However,theeconomiclegacyoftheOlympicsremainsanareawhereavisionforthelong-termlegacyoftheOlympicscould

3、bearticulatedingreaterdetail.Inthecontextofeconomicrecoveryandthegrowingimportanceofknowledgeintensivejobsandindustries,Londonfacestwochallenges–capitalisinguponitsstrengthsasaglobalknowledgecityinordertogrowtheeconomyandmanagingtheriskthatsomeindividuals

4、andplacesinLondonwillbeleftbehindwithoutintervention.London’seconomiccompetitivenessneedstobeunderstoodinthecontextoftheglobalshifttoincreasinglyknowledgeintensiveeconomies.Londonhasbeenasignificantbeneficiaryofthisshiftandthereisacaseforarguingthatitwast

5、heglobalcapitaloftheknowledgeeconomyin2008.Itsrecentproductivity,innovationandcompetitivenesshavebeendrivenbysignificantgrowthinknowledgeintensiveindustriesandanincreasinglyhighlyskilledpopulation,whichinturnhasfuelleddemandandemploymentrisesinothersector

6、ssuchastourism,retailandconstruction.ItmeetsorexceedsTheWorkFoundation’scriteriatobean‘Ideopolis’:asustainableknowledgeintensivecitythatdrivesgrowthinthewidercityregion.Astheeconomymovesintorecovery,wecanpredictthatitwillreshapeprimarilyaroundindustriesma

7、kinguseofknowledgebasedassets–andthiswillcreatebothopportunitiesandchallengesforLondon.Londonalreadyhasmanyoftheassetsa21stcenturyknowledgecityrequires:highskillorganisations,world-classuniversities,alargepooloftalent,connectivity,qualityoflifeandastrongr

8、eputation.Yetitconstantlyneedstosustainthesestrengthsatthesametimeasmanagingitsweaknesses.Postrecession,London’shighcosts,congestionanditsreputationasafinancialcentreallneedtobedealtwith–asdohighlevelsofyouthunemplo