Yesterday’s Autumn Statement announcement by chancellor George Osborne revealed that annual funding for the campaign will be increased by 50% to £45m for the 2014/15 and 2015/16 financial years.
The aim, according to the announcement, is to drive up interest in the UK in countries such as Brazil, Indiaand China, with the ambition of boosting "business, educational, tourism and cultural opportunities".
It was introduced in 2011, ahead of London 2012, with the ambition of attracting £1bn in Olympic business spending and bringing four million visitors to the capital during the Games. Early backers of the campaign included Marks & Spencer, Sainsbury's and Burberry.
This article was first published on marketingmagazine.co.uk