Eric Smith, Professor of Economics at the University, said that the legacy is in the buildings and in the infrastructure - the stadium, housing and transport links.

Thomas Scotto from the University's Department of Government said the Games made little impact politically.

He said: “Polls suggest that although the public believe the Games were a success this does not alter the way they view the government.

“The urban regeneration of London benefits our region as we have better rail links into London and that businesses involved in the Olympics could use their experience to negotiate international contracts.

With its close links to the capital, London Stansted Airport was well placed to benefit from the Games.

More than 2000 athletes and officials from across the world chose to fly to Stansted. 

Tim Hawkins, Regulatory Planning Director at Stansted Airport, said he hoped that by showcasing the airport throughout the Games that new passengers would be encouraged to use the airport.

With a capacity of 12,000 the Lee Valley White Water Centre in Hertfordshire was the venue for the canoe slalom.

Last year the Lee Valley White Water Centre was awarded the 2015 World Championships, the first major event awarded to a London 2012 venue after the Games. The venue has also re-opened for use by the public.

The purpose-built mountain biking course at Hadleigh Farm attracted around 40,000 spectators and has been estimated to have boosted the region's economy by around £140m.

The British Cycling Youth Inter Regional Mountain Bike championships will take place at Hadleigh Farm from 5-7 October - the first cycling event to happen there since the Olympic Gamess. The council's also planning to adapt the course for the public and build a visitor centre on the site.