As Paris prepares to host the Olympics for the third time, The Exchange delves into the economic impact of this global event. With billions of dollars being invested, the goal is to create a sustainable and economically successful legacy.
The Paris 2024 committee has allocated €4.4 billion for expenses such as ticketing, licensing, and hospitality. Local businesses are anticipating a significant boost in sales as millions of visitors are expected to visit the city. A study conducted by financial consultancy Deloitte predicts that Airbnb customers attending Paris 2024 will inject half a billion euros into restaurants and leisure activities.
Corporate sponsorship of the Olympics and Paralympics has become a lucrative venture, with companies like Coca-Cola leading the way since their first deal in 1928. Today, sustainability and climate change are key considerations in these sponsorship agreements. Coca-Cola, a prominent Olympic sponsor, has pledged to exclusively rely on recyclable glass bottles during the games.
Christophe Dubi, Executive Director of the Olympic Games, discusses how these initiatives aim to have a positive impact on business, society, and the planet. Deputy Mayor of Paris, Antoine Guillou, talks about how a €1.4 billion investment is being used to prepare the river Seine for the Paris 2024 Olympics and safeguard the city’s essential water supply against pollution.
Overall, Paris 2024 is an opportunity to not only create economic growth but also prioritize sustainability and environmental responsibility.
