Scots purchased the fewest tickets for the London Olympics but will be among the biggest regional beneficiaries of the Games' economic boost, a report has claimed.
Scotland is to receive the fifth highest economic boost out of twelve UK regions outside of London as a result of the Olympic and Paralympic Games, according to a new study from Bank of Scotland.
Scotland stands to gain a £1bn share of £16.5bn in gross domestic product (GDP) that the UK economy is predicted to receive, the study suggests.
Lloyds Banking Group, parent company of Bank of Scotland and the Official Banking and Insurance Partner of the London 2012 Olympic and Paralympic Games, also surveyed customers who had bought tickets and found those in London (27%) and the South East (24%) took the most seats, while customers in Scotland purchased the fewest at around 2%.
Of the total GDP supported, 41% is expected to occur in London; 9% in the South East; 7% in the North West; 6% in the East of England, Scotland, West Midlands, Yorkshire & the Humber and the South West; and 5% in the East Midlands.
The bulk of Scotland's economic boost (£774m) stems from orders for construction supplies and equipment, other purchases of inputs within the supply chain, and spending of wages by employees within the supply chain.
Orders from Scotland contributed to the construction of the Olympic Stadium and Aquatics Centre.
A further £185m is anticipated to be supported by related tourism in Scotland before, during and after the games.
Some £53m of gross value added (GVA) in Scotland is supported by the spend by LOCOG in staging the games.
Gareth Oakley, head of Bank of Scotland commercial, said: "London 2012 is the most important sporting event the UK has ever staged and Scotland is reaping the benefits.
"Delivering the Games has required an unprecedented level of capital investment over the past five years and the economic ripples of this are being felt not just in London but across the UK, including Scotland.
"The economic impact being felt in Scotland is a real boost and the fact that businesses in the country have seized the opportunities presented by the Games and have delivered such a big contribution to GDP must be acknowledged.
"The challenge now is for these businesses to build on what they have gained from the Games so that they can continue to grow and so that others might follow their lead in the run-up to the Commonwealth Games in Glasgow in 2014."
The Economic Impact of the London 2012 Olympic & Paralympic Games report examines the overall impact that the games are likely to have on the UK's economy.
It takes in the period from London's securing of the Games in 2005 through to 2017 — a five-year legacy period.
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