Paris 2024 Olympics Could Generate 10.7 billion Euros in Economic Benefits: Report

Paris 2024 Olympic Bid Logo

Paris 2024 Olympic Bid Logo

An Economic Impact Study conducted by the Centre for Law and Economics of Sport (CDES) at the University of Limoges shows that a Paris 2024 Olympic and Paralympic Games could generate 10.7 billion Euros in economic benefits and create more than 250,000 jobs in the Ile-de-France region.

The report suggests these numbers as a best case scenario, also reporting that the most conservative estimate is 5.3 million Euros (119,000 jobs) and a mid range impact would produce 8.1 million Euros in economic benefits (189,000 jobs).

Following the report, Paris 2024 along with the French National Olympic and Paralympic Committees, the Ile-de-France region, and the City of Paris, have also committed to developing a White Paper to set out legacy goals associated with the Games and to draw up a plan to maximize the social benefits of Paris 2024 for the whole nation.

Working groups made up of individuals from the state, the sports movement, the financial industry and civil society will be put together to drive the production of the White Paper.

The bid committee will also set up dedicated polls to measure public opinion on the legacy impact of the Games. The polls will be centered on such factors as sporting and non-sporting infrastructure, the quality of life for local people, the redevelopment of certain areas of Paris, and other wider societal benefits.

Bernard Lapasset, Paris 2024 Co-Chairman said, “as we continue to develop our bid for the Paris 2024 Olympic and Paralympic Games, the results of this study are very encouraging.  Beyond the wonderful festival of sport that the Games would bring, there is a real opportunity to place sport even more firmly at the heart of our society and to utilize the values of Olympism to contribute to the education of young people”.

Economic Impact Study reveals that Paris 2024 could generate €10.7bn (Click to read French report)

Economic Impact Study reveals that Paris 2024 could generate €10.7bn (Click to read French report)

Paris 2024 CEO Etienne Thobois added, “we welcome today`s report on the economic impact of Paris 2024 which shows the huge benefits that hosting the Games can bring for Paris and France.  The Olympic and Paralympic Games are a unique opportunity to place sport even more firmly at the heart of our society and to utilize the values of Olympism to contribute to the education of young people”.

Paris has set a budget of 60 million Euros to bid for the Games in 2024 – the French capital is competing with rivals Budapest, Los Angeles and Rome for the honour which will be decided by the International Olympic Committee in September 2017.