Paris: A new report by the University of Limoges’ Centre for Law and Economics of Sport (CDES) predicts a significant economic boost for the Paris region from the 2024 Olympic Games. The report, commissioned by the Paris 2024 Organizing Committee, estimates a net economic gain between €6.7 billion and €11.1 billion for the Île de France region from 2018 to 2034.
The economic impact is expected to be driven by construction work, increased tourism, and event organization. The Paris Tourism Office forecasts up to three million tourists during the Games, spending an estimated €2.6 billion.
This study builds on a previous economic impact study conducted by CDES in 2016, which projected a gain of €5.3-10.7 billion. While the Games’ budget is smaller than recent editions, with at least €2.6 billion in public funds, the report suggests that each euro of public spending could generate a threefold economic impact.
However, the report’s authors urge caution in interpreting the results, as the economic gains of major sporting events are notoriously difficult to measure. This sentiment is echoed by French central bank governor Francois Villeroy de Galhau, who believes the Games’ impact will be more psychological than economic.
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