He was the guest speaker at the Shropshire and Telford Tourism Summit held at Enginuity, in Coalbrookdale on Friday (26 November).
"The Games will touch every part of the UK because they are also about business, culture and tourism," said Moorcroft. "So far, 300,000 people in the West Midlands region have already been involved in the Games, and businesses across the region have already benefited by securing in excess of £460m worth of contracts."
Moorcroft went on to tell guests that, outside London, the West Midlands is the most successful region in the UK at winning Games contracts.
Golden Bear, which created the Games' mascots, Wenlock and Mandeville, is a high profile business win for the region, which has won over 25 'major' business travel tourism contracts, thanks partly to the Olympic Torch Relay event, which will pass through the region for a minimum of three days, covering Shropshire, Telford and the West Midlands.
Moorcroft urged businesses not to overprice their delegate travel to compete with London, and help the region gain recognition over the coming decade.
Shropshire and Telford Tourism Strategy Board chair Katie Foster, said the topic of the 2012 Olympics had been chosen for this year’s summit after 80% of delegates at last year’s inaugural event requested it.
"We believe the information that has been presented will prove invaluable in helping tourism businesses in Shropshire and Telford grasp the opportunities that such an incredible event will create," she added.