"In terms of our tourism industry, we have not been performing as well as we should have in this area of tourism and London is much more lowly ranked that it should be," he said at a press conference this morning.
"I sincerely hope that we will see a boost in this area after the Olympics and I hope and expect that people will conclude that we’re pretty good at putting on events. The response to the opening ceremony was been great and with any luck that will have burnished our credentials and show what we can do."
But he called on other cities around the UK to learn from London and get their offers as ready as possible for hosting events to capitalise on the halo effect expected from the Olympics.
"Other cities need to get everyone working together from local government, to tourism bodies, to accommodation and transport providers. They all need to be singing from the same sheet," said Penrose.