Construction work will be the Olympics' biggest impact

Construction and regeneration work in London’s East End will be the most noticeable impact of the 2012 Olympics, says a report into the “muted” impact of the games.

Rating agency Standard & Poor’s report rates the impact of the games on tourism in London as “muted” as the city is already a big tourist destination.

Although calling regeneration planning “insufficient”, it says construction and regeneration work will make the biggest impact.

It also warns that cost overruns in the budget could mean a cut in government spending on other projects, including Crossrail, reports the Financial Times.