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tourism boomsCNBC
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87% Informative
Mega events like the Olympics produce sudden demand shocks in local economies that can appear to boost inflation.
However, these mega events may not actually increase the cost of living for the local population.
The Paris Olympics has boosted demand — and prices — in various industries, including hotels and airlines.
Paris hotel occupancy levels during the Olympics are up versus last year , according to CoStar .
Visa data shows flight bookings to Paris have increased 39% in the period leading up to the Olympics .
Visa found that those businesses received a year-ove-year sales boost of 26% from cardholders in the Games' first weekend.
Paris 2024 may generate as much as $12 billion , or 11.1 billion euros, in long-term economic impact.
VR Score
90
Informative language
91
Neutral language
60
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formal
Language
English
Language complexity
46
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Attention-grabbing headline
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Time-value
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External references
4
Source diversity
4
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