Sunday, August 4, 2024
reading time: 3 minutes
The Paris 2024 Olympic Games are set to be a historic event, not only for the athletes competing but also for the economic and tourism landscape of Paris and its surrounding areas. As the world watches the pinnacle of sporting excellence, the French capital is preparing for an unprecedented influx of visitors and economic activity. This article delves into the multifaceted impacts of hosting the Olympic Games, from the expected “Olympic effect” on tourism and hotel occupancy rates to the fierce competition and key events that define this global landscape.
Tourism rise
Paris usually receives around 12 million visitors between July and August. However, the Paris Tourism Office expects this number to increase during the Olympic Games. This influx represents a major boost to the local economy.
Audience and global engagement
Every four years, billions of people around the world watch the Olympic Games, the pinnacle of sporting excellence. According to Oxford University researchers Bent Flyvberg, Alexander Pudzier and Daniel Lunn, “the Olympic Games are the largest, most prestigious and most expensive event hosted by cities and countries.”
This year, about 10,500 athletes, including 138 from South Africa, are participating in the Summer Olympics in Paris.
Between July 24 and 27, Paris welcomed 650,000 tourists, a 16% increase on previous years. The number of French visitors rose by 17.3%, while the number of foreign visitors increased by 14.8%. On the eve of the opening ceremony, tourist numbers were up 34.6% year-on-year.
Hotel occupancy rates
The first weekend of August is expected to see hotel occupancy rates in Paris reach around 90%. Hotel occupancy rates during the Olympics are expected to exceed 80%, up 20% compared to the previous year. This increased demand benefits not only Paris but also the surrounding regions such as Centre-Val de Loire, Champagne and Normandy, Attau France reported.
Economic costs and rewards
Hosting the Olympics is an expensive undertaking, estimated to cost at least R218 billion, excluding non-sports-related expenses. Despite the high costs, the potential rewards make it a high-risk, high-reward venture for host nations. The International Olympic Committee estimates that the influx of some 15 million tourists to Paris could generate revenues of between $7.4 billion and $12.4 billion.
The impact of the Olympic Games
The Centre for Sports Law and Economics estimates that 84% of the “Olympic Games Impact” will be realized during the preparation and organisational phases. The residual impact will be felt over the next decade, particularly in the tourism sector. This highlights the long-term benefits of hosting the Olympic Games, beyond the immediate economic boost.
Medal tally and competition highlights
At the Paris Olympics, the competition was fierce. China currently leads the medal table with 37 medals, including 16 gold, 12 silver and 9 bronze. The United States follows with 61 medals, including 14 gold, 24 silver and 23 bronze. Host nation France performed brilliantly, winning 41 medals, including 12 gold, 14 silver and 15 bronze. Australia also made a big impact, winning 27 medals, including 12 gold, 8 silver and 7 bronze. These results underscore the global talent and competitive spirit that characterizes the Olympic Games.
Key events and exciting moments
Day nine of the Olympic Games promises to be an exciting affair with 20 gold medals up for grabs. The highlight is the men’s 100m final at the Stade de France, where world champion Noah Lyles and this year’s fastest man Kishana Thompson are expected to battle it out. British sprinters Zharnel Hughes and Louie Hinchliffe are also aiming to reach the final.
Elsewhere, Lizzie Duignan and Anna Henderson compete in the women’s road cycling event, Jake Jarman seeks his second gymnastics medal on the vault and Becky Downie seeks gold in the uneven bars final. The men’s singles tennis final at Roland Garros sees Novak Djokovic take on Carlos Alcaraz, while Tommy Fleetwood competes in the final round of golf at Le Golf National.
The final night of swimming sees the Great Britain men’s relay team vie for the final medal, with Adam Peaty likely to face local hero Leon Marchand in the men’s 4x100m medley.
The 2024 Olympic Games in Paris will not only showcase the pinnacle of sporting achievement, but will also provide significant economic and tourism benefits to the host city and its surrounding areas. The expected increase in visitor numbers and the huge revenues generated highlight the lasting impact of the Olympic Games.
