The report was published by the Centre de droit et d'économie du sport (CDES) of the University of Limoges, a research institute in France specialising in the economic and legal aspects of sport.
Spanning the period from 2018 to 2034, the net impact comes from an external injection of economic resources within the Île de France region, which would not have happened without the Games.
The impact is expected to revolve around tourism, construction and the organisation of the Games, constituting 30, 28 and 42 per cent of the net economic impact respectively.
Between 2.3 and 3.1 million unique visitors with Games tickets are expected to visit Paris during the Games, some 64 per cent of them French. An estimated EUR 2.6 billion will be spent by tourists travelling to Paris during the Games, with or without tickets, according to the Paris Tourism Office.
Most of the EUR 7 billion in private funding for the Paris 2024 Games comes from media rights, sponsorship and ticketing, but also private investment in long-term infrastructure projects, and includes an IOC contribution of USD 1.7 billion in cash and services.
Public funding amounts to EUR 3 billion, and mainly covers projects that will address long-term needs of local communities. It is estimated that for each euro of public spending there is a leverage effect of three euros of economic impact (according to the intermediate scenario).
Eighty per cent of the public investment is going to Seine-St-Denis, one of the youngest and most disadvantaged departments in France. The Olympic Village, for example, situated in Seine-Saint-Denis, will provide 2,800 housing units and two new schools, benefitting 6,000 residents.
Paris 2024 inspired by IOC’s Olympic Agenda 2020
In line with the IOC’s strategic roadmap, Olympic Agenda 2020, the Paris 2024 organisers have planned Games with social, environmental and economic responsibility, which are bringing benefits to the local population well before the Opening Ceremony.
Christophe DubiOlympic Games Executive Director.As the first Olympic Games aligned with Olympic Agenda 2020, Paris 2024 is proving that the Games can bring substantial economic benefits to their hosts, while being socially and environmentally responsible. These are Games that truly adapt to the needs of their host and to the times we live in, creating an impactful legacy before the Opening Ceremony and long after the sporting competitions have ended.
The Paris 2024 ambition is to host Games that create economic opportunities open to everyone, boosting local employment and entrepreneurship, and helping people develop new skillsets.
This also entails a 50 per cent reduction in carbon emissions compared to previous Games, and the implementation of a “less is more” strategy.
Innovative measures were taken very early, with the Paris 2024 Social Charter signed in 2019 with trade unions and employer organisations. A first in Olympic history, the Social Charter outlines 16 commitments, including exemplary working conditions, a commitment to social inclusion, and a focus on small and medium-sized businesses.
“We at Paris 2024 want to show that it’s possible to have a new model for Games that are both spectacular and more responsible,” said Paris 2024 President Tony Estanguet. “That’s also what we’ve sought to do for the economic impact, by using a method that combines anticipation (with job mapping in 2019), co-construction with all the stakeholders involved, and precise and innovative assessment tools. The study just published shows that this rigorous method has paid off, particularly in Île-de-France, with significant results expected for both the strength of the local economy and for numerous projects – accommodation, sports facilities, green spaces, etc. – in areas like Seine-Saint-Denis.”
Small, local and social businesses
Paris 2024 and Solideo (the Olympic Delivery Authority) have implemented a large number of initiatives, unprecedented for such a major event, to ensure that the EUR 5 billion of contracts benefit the entire economic fabric and all businesses, in particular very small ones. Some 78 per cent of Paris 2024 suppliers are small and medium-sized businesses, with more than 500 local businesses from the social and solidarity economy (ESS).
Organisers have also used the Games as an opportunity to elevate the profile of local companies globally, with 90 per cent of the Organising Committee’s service providers being French.
Nearly 181,000 people are either working or set to work in roles connected with the Games, and the organisers aim to transform these opportunities into lasting and inclusive employment.
Methodology
The period from 2018 to 2034 was chosen to cover the entire lifecycle of the Paris 2024 Games, including preparation, staging and legacy. In the intermediate scenario, some 84 per cent of the impact was felt within the initial preparation and implementation phases until 2024, with the remaining 16 per cent coming in the final legacy phase.
The report follows the guidelines of the Organisation for Economic Cooperation and Development (OECD), which were published in July 2023 to assist global sports, business and cultural event organisers and their stakeholders in monitoring, measuring and evaluating the social, economic and environmental benefits of their events using robust and evidence-driven methodology. An ex-post study will be carried out by the French National Government after the Games, using the same methodology.
The study was commissioned by the IOC.
More information
The economic benefits of hosting the Olympic and Paralympic Games
