THE North-East economy could strike gold if London wins the contest to stage the 2012 Olympics.

Although most events will be held in the capital, Newcastle's St James' Park is one of eight stadiums across the country that will host football matches at the group stage of the competition.

Regional economic experts said that could be worth millions to the North-East by attracting visitors, many from overseas, for more than two weeks.

And regional development chiefs hope that the games will have other spin-offs.

They are planning to push the North-East as a tourist destination at home and overseas in the hope that visitors will venture out of London for some sight-seeing or extend their stay in the region.

And if London does win the race to hold the games - a decision is expected by the International Olympic Committee on July 6 - development agency One NorthEast will give local firms advice on how to bid for the wide range of contracts, expected to be worth a total of more than £3bn, that will be up for grabs.

One NorthEast, as well as famous regional sporting heroes, such as paralympian Dame Tanni Grey-Thompson, Brendan Foster and Newcastle rugby player Mathew Tait, are backing London's bid.

Tim Cantle-Jones, chairman of Sport England in the North-East and a One NorthEast board member, said: "People might wonder what's in it for the North-East, but the reality is that for any country that gets the games, the benefits are much broader than just in the location the games are held.

"It is estimated that there will be £3bn to £4bn of private contracts that will be let out as a result of a successful bid. The main contractors are developing the sports facilities, but think of the all the things like catering facilities, providing toilet rolls, flags.

"We are looking to establish a linkage service to advise businesses on how to bid for them.''

He added that efforts were being made to promote the region as a tourist destination on the back of the games.

The region's sports facilities, including the three Premiership football clubs' training academies, could be used as training camps.

Mr Cantle-Jones said the Tees Barrage and the planned Olympic size swimming pool, in Sunderland, could also be used.

The games will be seen as a boost for sport generally and a two-day exhibition was held at St James' Park, Newcastle, last Wednesday and Thursday, highlighting talented sportsmen and women who could be competitors in 2012.

Among them is fencer Matthew Stewart, 16, from Durham City, who has been selected for the English under-18 team.

He said: "If London was to host the 2012 Olympics it would be a great opportunity to showcase Britain's sporting talent and would inspire future generations of men and women up and down the country.''