The Strategist

2024 Olympics will bring up to €11.1 bln to Paris

05/16/2024 - 03:11

The region will profit economically from the 2024 Summer Olympics in Paris by an amount ranging from €6.7 billion to €11.1 billion.

The International Olympic Committee (IOC) press office claims that the 2024 Olympic Games in Paris will be "economically beneficial" for the host city. It is mentioned that the Games might generate up to €11.145 billion to the Paris region between 2018 and 2034. In the worst situation, the event will bring €6.7 billion.

Approximately 64% of the 2.3–3.1 million visitors expected in Paris during the Games will be French. The Paris Tourism Board estimates that visitors spending €2.6 billion during the Olympics, and the majority of the profits will amount to €7 billion from ticket sales, broadcast rights, sponsorships, and private investment in long-term infrastructure projects. The €1.5 billion payment from the IOC is also included in this total. 

Three billion euros in public money primarily goes toward long-term community needs projects. One of France's newest and poorest departments, Seine-Saint-Denis, will get 80% of the public investment.

The €5 billion contracts will benefit the entire economic structure and enterprises thanks to a variety of measures that have been put in place by the Paris 2024 Organizing Committee and Solideo, the firm in charge of the building works.