Financial impacts of the Paris Olympics will be present until 2034

According to data from the consultancy firm “Statista”, the Paris Olympics had an investment valued at up to €9.3 billion between 2017 and 2024. On the other hand, the city could see a return of €1.85 billion between 2025 and 2034. Most of this sum is justified by tourism. Many tourists who were going to travel to Paris during the Olympic period have postponed their trip to a later date.

Furthermore, the Olympic Village, where athletes stay during competitions, must have a third of its apartments designated for social housing, while the remainder can be sold or used for student accommodation.

However, sports and tourism analyst Gregory Stirton drew attention to controversies involved in the construction of the complex (Via Valor Econômico):

“…The construction allegedly came at the cost of evicting hundreds of refugees and homeless people from the squats that were demolished to make way for the village.”

“Hidden” sponsors

Although Paris has 15 global sponsors, 14 of them are not shown in competition settings. This is due to a determination by the International Olympic Committee (IOC). Only the watch brand “Omega”, the second oldest sponsor of the Olympic Games, is shown in the broadcasts. The IOC argues that this benefits the sport first and foremost, creating an environment of exclusivity for the athletes. The International Olympic Committee has already raised around €1 billion from the deals.

_{Spaces for sponsors were replaced by Olympic Arches (Photo: reproduction/gustavorezende/Pixabay)}

Revenues

The International Olympic Committee has already announced that 90% of its revenues will go to the athletes, including US$4.2 million to support sports. It is worth noting that 96% of the organizing committee's budget is financed by the private sector, in addition to spending by the French government. According to the country's Court of Auditors, the public sector can spend up to €5 billion on the event.

In Brazil, the Brazilian Olympic Committee (COB) will award R$350,000 to athletes who win a gold medal. Silver medals are worth R$210,000 and bronze medals are worth R$140,000. The amounts refer to individual achievements.

Featured photo: Paris to host 2024 Olympics (reproduction/TheDigitalArtist/Pixabay)