Jim Seida / NBC News

East Londoner Dean Houssein sells coffee, drinks and snacks from the back of a van near the London's Victoria Park, a short train ride from the Olympic Park. He said that during the Games, the area has been "deader than dead."

LONDON – Quiet restaurants, empty sidewalks and spare seats on the subway have left businesses in central London without an Olympic gold rush, despite Britain's medal success -- and have raised new questions about whether the world's largest sporting event brings any economic benefit to host countries.

It is a major concern in Britain, which is still entrenched in double-dip recession even after the construction boom created by the Games.

Attractions including St. Paul's Cathedral and the London Zoo have seen a 40 percent drop in visitors since the opening ceremony on July 27. Dire warnings of travel chaos scared many away, and those who do come are congregating in the shopping mall that abuts the Olympic Park in East London, or inside the bars and opens spaces of the sprawling park itself.

Even small businesses within sight of the landmark 80,000-seater main stadium have seen none of the expected dividend.

East Londoner Dean Houssein, who usually works as a taxi driver, decided to sell coffee, drinks and snacks such as chocolate gold medals from the back of a van near Victoria Park. It seemed like a prime location -- big screens in the park show action from the Games to crowds of thousands and the Olympic Park itself is just a 5-minute train ride away.

"It's been like a f****** ghost town ... deader than dead," Houssein said. "I've never seen the area like this. It's costing me money. It's really not happening. I need to go back to my normal job, I've got bills to pay like everyone else," he said last week.

Asked what the business was called, he replied with a wry smile, "I was thinking of calling it 'Dean the Coffee Machine,' but I'm not selling it. I'm drinking it all myself, getting the shakes."

Full coverage in London 2012: Hosting the Games

Even as authorities warned of major delays and congestion, the Daily Telegraph published a slideshow of deserted stations and sidewalks.

Theater producer Nica Burns told the Evening Standard newspaper that her venues were "bleeding."

"For my six theaters, last week was the worst this year," she said. "I think the Olympics are great — but I feel like I've been the bulls-eye for the archery competition."

Peter Vlachos, a marketing expert at the University of Greenwich, in southeast London, has been surveying local businesses about the impact of the Games. "One word came back: Disaster," he told The Associated Press.

"There are 23,000 people walking past (local shops) in the morning to get to the grounds, and at the end of the day the same 23,000 people rushing back to their hotels," he said.

"The Olympics were sold to the business community as if it was going to be a huge windfall, and it hasn't materialized," he said.

Race to London's Olympic Park: Fastest way is ... ?

Big traders are also suffering. Stores on the city's flagship shopping drag, Oxford Street, have seen footfall slump by up to one-fifth.

Slideshow: Olympic Emotional Moments

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Click for more from the 2012 summer games in London.

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"Of all months to see a drop in trade, August is the worst," said Bernard Donohue, chief executive of the Association of Leading Visitor Attractions. "We expected a drop in international visitors -- it's the well-known displacement effect that happens at every Olympic Games -- but we didn’t expect all the domestic visitors to stay away, too."

British Prime Minister David Cameron last week repeated official estimates that London 2012 would bring $20 billion-worth of economic benefits over the next four years, mostly in the form of inward investment urban regeneration – enough to the justify the $14 billion cost of staging the Games.

"That figure is based on somewhat shaky calculations," said Samuel Tombs of London-based analysts Capital Economics, which predicts Britain will fall back into recession within weeks of the closing ceremony.

"There are some short-term benefits, particularly in the service sector, but long-term gains are unproven. We expect modest growth in the third quarter -- partly boosted by Olympic ticket sales which are officially recorded in this quarter -- but our current prediction is that we will see growth shrink again in the fourth quarter."

Christians, Muslims and even a 'vegan turkey' seek converts at London 2012

'The Olympic Curse'?
Could Britain be the latest victim of "The Olympic Curse" -- a phenomenon that in 1976 left Montreal with a 30-year debt headache?

Jim Seida / NBC News

You can lead the world to London, but you can't make them shop. Pedestrians walk past an Olympic-themed window display in a Tommy Hilfiger store on Regent Street, central London, on Aug. 2.

Athens is estimated to have spent between $15 billion and $32 billion on hosting the 2004 Olympics -- a contributory factor in the country's economic crisis -- and recent pictures show many of the venues lying vacant and abandoned. Research from Oxford University's Saïd Business School concludes that host cities have averaged a 179-percent cost overrun in the past 50 years, although recent Games have seen among the lowest overspends.

Olympic hosts: Londoners open their homes to the world

Transit authority Transport for London last week abandoned the use of pre-recorded public announcements, voiced by Mayor Boris Johnson, warning Londoners to plan for an expected visitor boom that never materialized.

The New West End Company, which represents stores in Oxford Street, Regent Street and Bond Street, is spinning the unexpected quietness as a boon for locals under the slogan 'No tickets needed.' "It's a Londoner's dream at the moment -- they can get around easily and get a table in a good restaurant," said spokesman Jace Tyrell.

The decline in visitor numbers in London could mean that other British tourist hot spots, including Scotland's capital city, Edinburgh, and northwest England's Lake District, see fewer summer visitors.

Olympics officials accused of anti-Semitism over Munich remembrance

Jonathan Denby, head of the Lakes Hospitality Association, told BBC Radio 4: "We get probably 100,000 Japanese tourists during the summer. This year in July and August there are none.

"No visitors are coming in from Asia because they couldn't get hotel accommodation in London and they were frightened of all the travel restrictions in London, so they just decided to stay away for the five-week period of the Olympics," he said.

"If you want to know where all the Londoners are, a lot of them are in the Lake District," Denby added.

Forging an Olympic legacy
There have been some winners. The recently opened Westfield shopping mall, through which tens of thousands of spectators walk from Stratford station in order to reach the Olympic Park, became so busy over the weekend that it closed to all except ticket-holders. A worker at The Cow, a bar at the end of the mall overlooking the stadium, said it was making $50,000 a day from food and drink sales.

Jim Seida / NBC News

Thousands of people move through the recently-opened Westfield shopping mall on their way to and from the London Olympic Park on Aug. 2.

In Manchester, one of England's largest cities, more than 100,000 extra visitors have flocked to the central Exchange Square to watch the Olympic action on giant screens, to the delight of local businesses, according to the Manchester Evening News.

For others, it may be too early to judge with Cameron's predicted windfall will come true.

"We thought we might get some extra customers during the Games," said Roger Love, co-owner of London Fields Fitness, which offers personal training and pay-as-you-go classes in East London.

"In fact, not a single extra person has come to us because of the Olympics. At times the local area is as quiet as it was the morning after last year's riots. Having said that, we haven't lost any business, either – and there may be greater interest in sport and fitness longer term. In the park this morning I overhead someone asking their child if they wanted to be a swimmer or a runner, so there could be more future business for us -- and perhaps a real Olympic legacy -- after all."

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LONDON -- For months, London has been gripped by fear of transport gridlock during the Olympics. So NBC News decided to find out just what was the best way to get about the city, notorious for its near stationary traffic and packed, sweltering subway trains.

We chose five different methods of travel: car, train, taxi, the city’s famous red double-decker buses and bicycle.

Our mission was to travel from Piccadilly Circus in central London to the Olympic Park in Stratford, East London.

At noon last Monday local time, the five of us set off with video cameras to record our attempts to make it in time for the men’s 10-meter synchronized diving at 3 p.m.

For some it was a simple, pleasant journey. For others, it was an experience to forget.

Here are our stories:

Car driver Peter Jeary: ‘You’ll never get parked’
To be honest, no one in their right mind would drive from central London to Stratford even on the best of days -- let alone during the Olympics. It was, however, much less stressful than expected.  

The pinch point around Trafalgar Square is always bad; it took me about 20 minutes to travel half a mile. The Olympic Lane [for athletes, officials] was often tantalizingly empty as I sat nose-to-tail in traffic.

Evangelists, 'vegan turkey' seek converts at London Olympics

One moment of crisis was when a London cab (naturally!) decided to drop a passenger in the only lane open to traffic. Could I sneak past, with just two wheels in the Olympic Lane? As the cars in front did, I decided to as well. Time will tell if I get a £130 fine ($203) in the mail.

Finding somewhere to park was a nightmare. In the interests of full disclosure -- I parked in a timed zone that would have expired just as the first competitors touched the water. So even if you do try driving -- don't! You'll never get parked.

Time: One hour 30 minutes

Slideshow: Venues for 2012 London Olympic Games

Oda / Getty Images

From Wimbledon to Wembley Stadium to The Dome, a look at the venues for the 2012 London Olympic Games.

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Cyclist Jim Seida: ‘No better way’
On a warm, sunny day, there is no better way to navigate the streets of London than on a bicycle.

As you pedal the tangled web that is central London, the sounds of languages and smells of foods from around the world become part of your point A to point B experience, making it just that, an experience, a journey, and any moment on the bike becomes about that journey, not just time passing by on your way to your destination.   

For this trip, though, from Piccadilly Circus to Stratford, trying to focus on where to go and when to turn impacted my usual enjoyment of the international experience I've come to enjoy over the past week. 

Home advantage: Britain celebrates 'sensational' Olympic medal haul

Sure, I still got to squeeze between double-decker buses with only inches to spare, and I got to dodge pedestrians as they crossed against the light, but doing these things one handed on a bicycle while trying to navigate via an iPhone with the other is, well, a bit awesome. 

There is no better way to go.  If we had to do it all over again, I'd still take a bike; and I think if we did it during rush hour I'd smoke 'em all. 

Time: 48 minutes

Taxi passenger Ian Johnston: ‘It seemed like I’d won’
It took me about 20 seconds to find one of London’s famous black taxi cabs after the five of us separated in Piccadilly Circus. 

My driver, Steve, a cabbie of 19 years’ experience and a native Londoner, was great, regaling me with stories about the time he had actor Roger Moore, rock star Noel Gallagher and other celebrities in his taxi while performing neat u-turns and avoiding traffic effectively by using side streets.

We hit a bit of traffic initially but then caught Jim Seida as he stood at the side of the road looking a bit puzzled about which direction to go. Jim slipped away again through the traffic, but soon Steve found roads that were really quiet for London and we started making good progress. I started to feel confident.

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Alastair Jamieson sent a text saying he was about to board one of the speedy Javelin trains to the Olympic Park, but moments later we saw our first glimpse of our target destination. It was definitely going to be close.

As we got to the venue, police stopped Steve from parking in what seemed to be a good dropping-off point and directed him to the taxi rank, wasting a few vital minutes. I thanked Steve profusely, paid the $43 bill and dodged through the crowds at a fast walk. I arrived at the entrance and couldn’t see any of the others. It seemed like I’d won, then I spotted Alastair standing at another entrance. He'd come from a different direction, so I went across to ask when he'd arrived.

Time: 43 minutes

Slideshow: When the Olympics is your neighbor

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A diverse community in East London will welcome the world to Britain for the 2012 Olympic Games. Meet residents and hear how they feel about having a huge, world stage in their backyard.

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Bus passenger Jamieson Lesko: Faster if I’d ran
I've never been a bus rider, so at the start of this journey, I wondered if I've been underestimating the ‘Big Reds’ all this time. But unfortunately, it turns out that I've not been too hard on them. Double decker = double time.  

It took me one minute shy of two hours to get from Piccadilly Circus to Stratford.

Olympic hosts: Londoners open their homes to the world

If I've done my math correctly, it would have been a faster trip if I'd jogged the whole way!

For visitors to London, the benefit of the bus is that you get a comfortable seat and scenic tour of the many sites there are to enjoy… but, if you've got a ticket for the Games or are on any kind of schedule, take the tube, grab a cab, or put on your sneakers and hoof it over to the venue!

Time: One hour 59 minutes

Slideshow: Graffiti Games: UK street artists take on Olympics

Jim Seida / NBC News

Street and graffiti artists have been satirizing, celebrating and making jokes about the Olympic Games in London.

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And the winner is: train passenger Alastair Jamieson
The official London 2012 website journey planner said public transport, using a combination of tube train and high-speed rail link, would be the fastest route for our trip. 

And so it proved -- but only just.

My trip took 42 minutes --  five minutes under the website's estimate -- but was almost beaten by the cab.

London's underground system, whose oldest section dates from 1863, when Abraham Lincoln was president, was an immediate concern for Games organizers.

Medals for poets? Not at this Olympics but...

To ease pressure on the narrow tunnels, a shuttle service of Japanese-built 140mph "Javelin" trains was introduced on the fast line between London and Paris which runs underneath the Olympic Park. Running every 15 minutes, it slashed our journey time by a remarkable 21 minutes.

Despite concerns about crowding, my journey on the Piccadilly line to the King's Cross terminus station was hassle-free and, like the games venues, had plenty of free seats.

Changing trains took five minutes, and there were elevators available for those unable to tackle the large number of steps.

More London 2012 coverage from NBCNews.com

At Stratford's International station, it was only a six-minute walk to Stratford Gate, well-signed by volunteers in purple vests.

And even better than being the fastest route, it was the cheapest -- free to anyone with an automated Oyster swipe card, including ticket-holders.

NBC News' Peter Jeary, Jim Seida, Ian Johnston, Jamieson Lesko, Alastair Jamieson, Barny Smith and Kristy Breetzke contributed to this report.

Slideshow: Olympic Emotional Moments

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Click for more from the 2012 summer games in London.

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Alastair Jamieson/NBC News

Londoners Eva Gray and Ryan Church were among the delighted fans of 'Team GB' at the Olympic Stadium in London, Sunday.

Updated at 5:01 p.m. ET: LONDON - Olympic host nation Britain was in euphoric mood Sunday, celebrating an "extraordinary" haul of gold medals that sent the UK media went wild with Games fever.

Two gold medals on Sunday - including Andy Murray's defeat of Roger Federer at Wimbledon - took Britain's collection to 16 at the London Games, putting it third in the overall table behind the United States (28 gold medals) and China (30).

Saturday was Britain's successful Olympic day since 1908, with six golds in the space of one hour: Two in rowing and one at the cycling velodrome quickly followed by a hat-trick of victories in athletics from Jessica Ennis (heptathlon), Greg Rutherford (long jump) and Mo Farah (10,000m).

 Phelps, Rupp, Pistorius: Emotional moments

"Their extraordinary efforts have brought rapture to streets, parks and living rooms in London and all over the country if not the planet," London mayor Boris Johnson said in a characteristically hyperbolic statement.

London's funny zip-lining mayor taken seriously

"It has been a remarkable first week and my hearty congratulations go to every single athlete that has taken part," Johnson added.

"They have entertained billions of people around the world and I for one cannot wait to see what they serve up for week two." 

London Games chief Sebastian Coe, a double Olympic 1,500 champion, said: "I think we've witnessed something sensational. I've never known a night in UK athletics like that, it was unbelievable."

Alastair Jamieson/NBC News

Flying the flag: 'Team GB' supporters (L-R) Chris Elliott and his brothers Patrick, Dan and Nick at the Olympic Stadium in London, Sunday.

It was also a cathartic moment for London, coming almost exactly a year since rioting brought the city's safe hosting of the games into doubt.

"Today, London rose from the ashes," wrote blogger Ronnie Joice on Twitter.

At the Olympic Stadium on Sunday evening, the Union flag and 'Team GB' sports shirts were much in evidence. Eva Gray and Ryan Church, both from London, were sporting imitation gold medals in honor of Saturday night's successes.

Patrick Elliott, who was at the stadium with his three brothers, said: "The roar of the home support must have a lot to do with Britain's success. The noise that was being made when Jessica Ennis was running was incredible."

Carrie Ruddock, a South African living in London, said: "South Africa has also done better than expected - but it's great that Britain has done so well."

Britain's euphoria was reflected in Sunday morning's press coverage. "Britain awakes to an unfamiliar sensation: winning," wrote Jill Lawless of the Associated Press, noting that "a country accustomed to sporting disappointment could scarcely contain its disbelief." 

British newspapers continued the theme, the front page of the Sunday Times describing it as "Our Finest Olympic Hour" alongside a spectacular picture of Rutherford flying through the air in mid-jump.

Alastair Jamieson/NBC News

South Africans Cheryl McGregor (L) and Carrie Ruddock at the Olympic Stadium, Sunday.

The Sunday Telegraph had one word for it - "Sensational". The headline ran above photos of all six British gold-medal victors from the second Saturday of the Games.

"That Was Pure Gold" was the Independent's reaction with a sub-heading that read: "One by one we counted them in on another astonishing day of British Olympic success."

BBC via Twitter @suttonnick

The Sunday Telegraph marks Saturday's British medal haul

"Britain's Greatest Day" said the Observer above a picture of a smiling Ennis with a Union Jack draped over her shoulders.

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