The 2024 Olympic Games They will be held in Paris from July 26 to August 11, with some competitions in other cities in France, such as Marseille, Chateauroux, Lille, Bordeaux, Lyon, Nice, Saint-Étienne and Nantes, as well as on the Polynesian island of Tahiti.
They will follow Paralympic Games from August 28 to September 8.
This global event will not only bring the best athletes in the world, but will also have a significant economic impact in France.
Budget and Preparation
El Total budget for the 2024 Olympic Games is 4.400 millones de euros, with 96% coming from private funds and only 4% from public funds, earmarked specifically for the Paralympic Games.
Investments have focused on construction of competition venues, training venues, homes and offices, which is crucial to take advantage of the strategic position of France in the international market.
Estimated Economic Impact
It is estimated that the 2024 Olympic Games will generate an economic impact of more than 11.000 billion euros, equivalent to 0,39% of France's GDP.
The most benefited sectors will be tourism, construction and transportation.
The creation of more than 181.000 jobs, both temporary and permanent, directly related to the event.
Similarly to the impact of international trade, the 2024 Olympic Games will generate a significant economic impact
An early indicator of impact is the 125% increase in flight bookings to Paris compared to the same period in 2023, which underlines the global interest and tourist movement that the event will generate.
Urban Renewal and Sustainability
The 2024 Olympic Games have boosted significant urban improvements and sustainability projects.
One of the notable projects is the sanitation of the Seine River, with the construction of an underground tank and tunnel to manage sewage and rainwater.
In the northeastern suburbs, they have installed 5.000 square meters of photovoltaic panels, two gyms and the streets have been improved to be greener.
Furthermore, a projected university campus and an eight-hectare park.
These initiatives reflect the principles of international sports law.
In terms of transportation, they have built 60 new kilometers of bike lanes and a net 200 kilometer railway.
The Olympic residence, which will accommodate more than 10.500 athletes and their delegations, will later be transformed into an urban district with 2.800 homes, capacity for 6.000 inhabitants, schools, shops and six hectares of green spaces with more than 8.800 trees.
Sponsorships and Transmission Rights
The main sponsors of the 2024 Olympic Games include Airbnb, Alibaba, Allianz, Atos, Bridgestone, Coca-Cola, Corona Cero, Deloitte, Intel, Omega, Panasonic, P&G, Samsung, Toyota and Visa.
The income of the television rights amount to 750 millones de euros, and trade associations provide 470 million.
Legacy and Future
The legacy of the 2024 Olympic Games promises to be significant.
In addition to the infrastructural improvements and immediate economic impact, sustainable projects and new urban facilities will continue to benefit the city and its inhabitants long after the Games are over.
Conclusion
The 2024 Olympic Games will not only be a top-level sporting spectacle, but also a engine of economic and urban development for France.
With smart investments and planning focused on sustainability, the benefits of this event will be felt for many years to come.
Benefits for Spain
The 2024 Olympic Games in Paris too can bring economic benefits to Spain, despite not being the host country.
With the geographical proximity between France and Spain, it is likely that many tourists traveling to the 2024 Olympic Games take advantage of the opportunity to visit both countries.
This can lead to a increase in the number of visitors to popular tourist destinations in Spain.
In addition, you can increase demand for Spanish products, such as food, olive oil, wines and artisanal products, both among tourists and in export markets.
The Tokyo Olympics
En comparison with the Tokyo Olympics:
El audiovisual of Tokyo 2020 was approximately 15.400 million, with a significant combination of public and private funds.
Tokyo 2020 initially expected a positive economic impact similar to that of France, but the pandemic drastically reduced tourism and affected the expected economic impact, although the creation of thousands of jobs related to the organization and infrastructure was still achieved.
Tokyo 2020, likewise, stood out for the construction of new sports venues, the improvement of public transport and the creation of an Olympic Village that has subsequently been transformed into residential apartments.
He also focused on sustainability, using recycled materials, manufacturing medals from recycled electronic devices and building temporary and reusable headquarters.
Jurist and internationalist. Paralegal and analyst at RELACIÓNATEYPUNTO.
