The Olympics are having a devastating effect on bookings for inbound tour operators, according to new research.
The 38 members of the European Tour Operators Association reported an average 95% downturn in bookings during London 2012.
Some reported plummeting sales of nearly 100% for August.
These members are responsible for bringing in two million tourists a year and represent more than £2 billion in export revenue to the UK economy.
In an earlier report, ETOA members predicted a 30% fall in business during the event.
"The expectations of visitor numbers currently circulating within the hotel industry are hugely inflated,” said ETOA executive director Tom Jenkins.
“If UK businesses are basing their plans on data in some prominent visitor forecasts, London will suffer financially, as has been experienced by previous host cities.”
Click here to view original article by Bev Fearis, Travelmole, Monday 7th November, 2011
