As Paris prepares to host the Olympics for the third time, The Exchange takes a closer look at the economic impact of being home to one of the world’s largest international sporting events. With €4.4 billion allocated in 2022 for ticketing, licensing, and hospitality, local businesses are eagerly anticipating a significant increase in sales due to the millions of visitors expected.
According to financial consultancy Deloitte, Airbnb customers attending the Paris 2024 Olympics will contribute half a billion euros to spending on restaurants and leisure activities. This is just one example of how Paris is gearing up to leave a lasting legacy of economic prosperity and environmental conservation.
Corporate sponsorship of the Olympics and Paralympics has become big business, with companies like Coca-Cola leading the way since 1928. In today’s world, climate change and sustainability play an increasingly important role in these sponsorship agreements. Coca-Cola has committed to using only recyclable glass bottles during the games as part of its efforts to create a positive impact on business, society, and the planet.
Meanwhile, Antoine Guillou, Deputy Mayor of Paris, shares with The Exchange how €1.4 billion is being invested to prepare the river Seine for the Paris 2024 Olympics and safeguard the city’s vital water supply from pollution. This is just one example of how Paris is taking steps to ensure that its hosting of this global event leaves a lasting positive impact on both its economy and environment.
