Visit London, the British capital's destination management organization, is waiting for clarification on how budgets cuts to the London Development Agency, which provides some funding to the DMO, will affect its operations. The government announced last week that much of the LDA's $600 million budget would be cut. In a statement, Sally Chatterjee, CEO of Visit London, said, "As we approach the 2012 Olympic and Paralympic Games, it is more important than ever that we continue to promote the capital as a tourism and business destination. The tourism industry is worth around $26 billion to London's economy and supports almost 300,000 jobs. We believe that international promotion of the capital must remain to ensure London's future as a world-class destination."