The export boost created by hosting the London 2012 Olympic Games could be worth €26 billion over the next five years, according to a study of multinational business leaders.

Of the senior executives at 500 multinational corporations and 962 UK exporters interviewed in the study commissioned by logistics firm UPS, 80 per cent currently buy goods and services from UK businesses.

Among these, 70 per cent said London 2012 has made them more inclined to source UK exports. This rose to 90 per cent of European multinationals and 80 per cent of Asian firms included in the study by UPS, a London 2012 sponsor, and the Centre for Economics and Business Research (CEBR).

Forecasts suggest that London 2012 could drive an increase in UK exports worth €19 billion between 2013 and 2017, if these companies currently trading with UK businesses follow through with these intentions.

Another €7.5 billion in export revenues could be added if the 10 per cent of multinational companies who currently do not trade with the UK have a change of heart.

The timing of this Olympics-driven demand differs around the world, the study found.

The ‘Olympics effect’ is set to be strongest in 2013 in Europe and the Americas. London 2012-driven demand is expected to peak in Asia in 2017, it was found.

Cindy Miller, the UPS UK, Ireland and Nordics managing director, said: “The legacy of the London 2012 Olympic and Paralympic Games will run much deeper than simply sport as we witness a positive impact on the overseas reputation of UK commerce and industry.

“In a difficult global marketplace, a projected uplift in international sales would represent a welcome boost for UK exporters.”