The Paris Olympics Won’t Add Billions to France’s Economy

The International Olympic Committee and local politicians are eagerly awaiting to see what economic impact the Games will bring to the City of Love .

Organizers have touted these benefits for the past year and a half and recently released a study that found the Games should generate between EUR 6.7 and 11.1 billion in net economic benefits.

To understand the true impact of hosting the Olympics , we must look beyond the surface.

Paris is already one of the most visited cities in the world, attracting millions of tourists each year .

The spike in tourism is short-lived, and there is often no meaningful effect on the host city’s global profile.

Leaking of money flows out of the local economy and into the pockets of international companies and contractors.

The tourism board of Paris expects around 11.5 million tourists to visit the city during the Olympics [Forbes] The Director of the Paris Tourist Office reported that air arrivals in Paris during the first three weeks of July were down by 15% compared to the same period in 2023 [ Le Monde] Air France-KLM forecast a revenue hit of as much as 180 million euros ( $195.5 million ) in June through August because of the Olympic Games [ CNBC ].