Although Peterborough is 100 miles away from London, we have a fast train link into Kings Cross that takes only 50 minutes so it is entirely possible that i could visit the games if I wanted to.
Think about this summer's World Cup. It created an enormous amount of wealth around Europe. People travelled to Europe for the games, the merchandise alone created jobs (I admit, probably low-paid jobs), people went to pubs and watched games whilst having a drink and sometimes a meal and the games themselves generated money.
Additionally, people got together at home and had a BBQ or party in order to watch the games together. It was a wonderfully unifying experience fo a lot of people and anything that makes people relax and enjoy themselves is good in my book.