The Olympic Games (July 26-August 11) and Paralympic Games (August 28-September 8) are expected to generate economic benefits of between 6.7 and 11.1 billion euros for Paris and its region, Ile-de-France, according to a study commissioned by the International Olympic Committee (IOC) and the Paris-2024 organizing committee, published Tuesday.
The Center for Sports Law and Economics (CDES), which on Tuesday updated the figures from a previous study carried out in 2016, before the designation of France as host country, revised upwards its forecasts of economic impact, which ranged from 5.3 to 10.7 billion euros for the capital region.
No estimate of the economic impact has been provided for the whole of France, Ile-de-France concentrating a very large majority of competition sites as well as most of the sporting events, argues the CDES.
THE low scenario of the CDES foresees benefits of 6.707 billion euros between 2018 and 2034, distributed between three major sectors: organization (3.2 billion), construction (2.1 billion) and tourism (1.4 billion).
The central scenario relies on an economic impact of 8.99 billion eurosvia benefits of 3.8 billion linked to the organization, 2.5 billion linked to construction and 2.7 billion resulting from tourism.
Finally, the high scenario expects benefits of 11.145 billion euros: 4.6 billion for organization, 3 billion for construction and 3.6 billion for tourism.
Estimates that do not measure the profitability of the Olympics
As the head of economic studies at CDES Christophe Lepetit reminds us, these estimates measure the additional activity compared to a situation where the event would not have been organized, rather than the profitability of the Games, which will be evaluated in a separate study.
These figures are estimates in current euros, meaning they take into account inflation that has occurred since the last CDES study. In constant euros (without taking into account inflation), the economic impact of the Games for Ile-de-France oscillates between 5.7 and 9.5 billion eurosan estimate comparable to that of 2016 and even lower for the central scenario and the high scenario.
The available studies on the economic benefits of the Games anticipate a limited impact on the French economy. The Asters firm estimated in February that they would lead to an increase in tax and social revenue of 5.3 billion euros. The governor of the Bank of France Franois Villeroy de Galhau judged in March that the possible benefit of the Games would be more psychological than economic.