The Olympic Video games Paris 2024 are set to generate between EUR 6.7 and 11.1 billion in web financial advantages within the Paris area, with an intermediate situation projecting EUR 8.9 billion in web financial affect, an impartial research has revealed.
The report was printed by the Centre de droit et d’économie du sport (CDES) of the College of Limoges, a analysis institute in France specialising within the financial and authorized points of sport.
Spanning the interval from 2018 to 2034, the web affect comes from an exterior injection of financial assets throughout the Île de France area, which might not have occurred with out the Video games.
The affect is anticipated to revolve round tourism, building and the organisation of the Video games, constituting 30, 28 and 42 per cent of the web financial affect respectively.
Between 2.3 and three.1 million distinctive guests with Video games tickets are anticipated to go to Paris in the course of the Video games, some 64 per cent of them French. An estimated EUR 2.6 billion shall be spent by vacationers travelling to Paris in the course of the Video games, with or with out tickets, in accordance with the Paris Tourism Workplace.
A lot of the EUR 7 billion in non-public funding for the Paris 2024 Video games comes from media rights, sponsorship and ticketing, but additionally non-public funding in long-term infrastructure initiatives, and contains an IOC contribution of USD 1.7 billion in money and companies.
Public funding quantities to EUR 3 billion, and primarily covers initiatives that may tackle long-term wants of native communities. It’s estimated that for every euro of public spending there’s a leverage impact of three euros of financial affect (in accordance with the intermediate situation).
Eighty per cent of the general public funding goes to Seine-St-Denis, one of many youngest and most deprived departments in France. The Olympic Village, for instance, located in Seine-Saint-Denis, will present 2,800 housing models and two new colleges, benefitting 6,000 residents.
Paris 2024 impressed by IOC’s Olympic Agenda 2020
In step with the IOC’s strategic roadmap, Olympic Agenda 2020, the Paris 2024 organisers have deliberate Video games with social, environmental and financial accountability, that are bringing advantages to the native inhabitants effectively earlier than the Opening Ceremony.
The Paris 2024 ambition is to host Video games that create financial alternatives open to everybody, boosting native employment and entrepreneurship, and serving to folks develop new skillsets.
This additionally entails a 50 per cent discount in carbon emissions in comparison with earlier Video games, and the implementation of a “much less is extra” technique.
Progressive measures had been taken very early, with the Paris 2024 Social Constitution signed in 2019 with commerce unions and employer organisations. A primary in Olympic historical past, the Social Constitution outlines 16 commitments, together with exemplary working situations, a dedication to social inclusion, and a give attention to small and medium-sized companies.
“We at Paris 2024 need to present that it’s potential to have a brand new mannequin for Video games which are each spectacular and extra accountable,” mentioned Paris 2024 President Tony Estanguet. “That’s additionally what we’ve sought to do for the financial affect, by utilizing a technique that mixes anticipation (with job mapping in 2019), co-construction with all of the stakeholders concerned, and exact and progressive evaluation instruments. The research simply printed exhibits that this rigorous methodology has paid off, notably in Île-de-France, with vital outcomes anticipated for each the energy of the native economic system and for quite a few initiatives – lodging, sports activities services, inexperienced areas, and many others. – in areas like Seine-Saint-Denis.”
Small, native and social companies
Paris 2024 and Solideo (the Olympic Supply Authority) have applied a lot of initiatives, unprecedented for such a serious occasion, to make sure that the EUR 5 billion of contracts profit all the financial cloth and all companies, specifically very small ones. Some 78 per cent of Paris 2024 suppliers are small and medium-sized companies, with greater than 500 native companies from the social and solidarity economic system (ESS).
Organisers have additionally used the Video games as a chance to raise the profile of native firms globally, with 90 per cent of the Organising Committee’s service suppliers being French.
Almost 181,000 individuals are both working or set to work in roles linked with the Video games, and the organisers intention to rework these alternatives into lasting and inclusive employment.
Methodology
The interval from 2018 to 2034 was chosen to cowl all the lifecycle of the Paris 2024 Video games, together with preparation, staging and legacy. Within the intermediate situation, some 84 per cent of the affect was felt throughout the preliminary preparation and implementation phases till 2024, with the remaining 16 per cent coming within the remaining legacy part.
The report follows the pointers of the Organisation for Financial Cooperation and Growth (OECD), which had been printed in July 2023 to help international sports activities, enterprise and cultural occasion organisers and their stakeholders in monitoring, measuring and evaluating the social, financial and environmental advantages of their occasions utilizing strong and evidence-driven methodology. An ex-post research shall be carried out by the French Nationwide Authorities after the Video games, utilizing the identical methodology.
The research was commissioned by the IOC.
