A new report published by mayor Boris Johnson has found that hosting the 2012 Olympic and Paralympic Games has "rapidly accelerated" the regeneration of London's East End.

Since winning the race to host the event, the study revealed that up to £600m has been spent on new infrastructure and that the capital's economy has benefited from a £2bn boost. The progress has ensured that phase one of the £1.45bn Westfield Stratford City retail and leisure scheme has progressed up to seven years earlier than originally planned.

Westfield Group commissioned the research, which was compiled by Volterra and estimates that phase two of the development could be delivered up to 25 years ahead of planned. Johnson said: "Our commitment to transform the job prospects of Londoners and bring lasting economic benefits as a result of the 2012 Games is already becoming a reality.

"The future of this long-neglected area is looking bright thanks to both the Games and the vision of Westfield Group."