Sunday, August 4, 2024 The Paris 2024 Olympics are set to be a monumental event, not only for the athletes competing but also for the economic and tourism landscapes of Paris and its surrounding regions. As the world tunes in to witness 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 anticipated “Olympics effect” on tourism and hotel occupancy rates to the fierce competition and key events that define this global spectacle.
Paris typically welcomes around 12 million visitors between July and August. However, during the Olympic Games, the Paris tourism office expects this number to rise in tourists. This influx represents a significant boost for the local economy.
Every four years, billions of people worldwide tune in to watch the Olympic Games, regarded as the pinnacle of sporting excellence. According to University of Oxford researchers Bent Flyvbjerg, Alexander Budzier, and Daniel Lunn, “The Olympic Games are the largest, highest-profile, and most expensive megaevent hosted by cities and nations.” This year, around 10,500 athletes, including 138 from South Africa, are participating in the Summer Olympic Games in Paris.
Between July 24 and 27, Paris saw 650,000 tourists, marking a 16 percent increase from previous years. The number of French visitors rose by 17.3 percent, while foreign visitors increased by 14.
8 percent. On the eve of the opening ceremony, tourist numbers surged by 34.6 percent year-on-year.
The first weekend of August is projected to see Parisian hotel occupancy rates nearing 90 percent. Throughout the Olympic period, hotel occupancy rates are expected to exceed 80 percent, up 20 percent compared to the previous year. This rise in demand is not only beneficial for Paris but also for nearby regions like Centre-Val de Loire, Champagne, and Normandy, as noted by Atout France.
Hosting the Olympic Games is a costly endeavor, with an estimated price tag of at least R218 billion, excluding non-sport-related expenses. Despite the high costs, the potential rewards make it a high-risk, high-reward venture for host countries. The International Olympic Committee (IOC) predicts that the influx of approximately 15 million tourists to Paris could generate between $7.
4 and $12.4 billion in revenue. The Centre for the Law and Economics of Sport (CDES) estimates that 84 percent of the “Olympics effect” will be realized during the Games’ preparation and staging phases.
The remaining impact will be felt over the next decade, predominantly in the tourism sector. This highlights the long-term benefits of hosting the Olympics, beyond the immediate economic boost. At the Paris Olympics, the competition has been intense.
China currently leads the medal tally with 37 medals, including 16 golds, 12 silvers, and 9 bronzes. The United States follows with 61 medals, featuring 14 golds, 24 silvers, and 23 bronzes. Host nation France has performed admirably, securing 41 medals with 12 golds, 14 silvers, and 15 bronzes.
Australia has also made a significant impact, earning 27 medals, including 12 golds, 8 silvers, and 7 bronzes. These results underscore the global talent and competitive spirit that define the Olympic Games. Day nine of the Olympics promises excitement with 20 gold medals up for grabs.
Highlights include the men’s 100m final at Stade de France, where world champion Noah Lyles and Kishana Thompson, the fastest man this year, are expected to compete fiercely. British sprinters Zharnel Hughes and Louie Hinchliffe also aim to make the final. In other events, Lizzie Duignan and Anna Henderson compete in the women’s road race cycling, Jake Jarman goes for his second gymnastics medal on the vault, and Becky Downie aims for gold in the uneven bars final.
The tennis men’s singles final at Roland Garros features Novak Djokovic against Carlos Alcaraz, while Tommy Fleetwood contends in the final round of golf at Le Golf National. The last night of swimming sees Great Britain’s men’s relay team aiming for one last medal, with Adam Peaty possibly facing home hero Leon Marchand in the men’s 4x100m medley. The Paris 2024 Olympics not only showcase the pinnacle of athletic achievement but also provide significant economic and tourism benefits for the host city and surrounding regions.
The anticipated surge in visitors and the substantial revenue generated highlight the enduring impact of the Olympic Games..
