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France is preparing for the Olympic Games, but the "bill" of the event is high

2024-02-03 12:56:26Sport SHKRUAR NGA REDAKSIA VOX

France is preparing for the Olympic Games, but the "bill" of the event

Hosting the Olympics is a balancing act, as the 'bill' for host countries is extremely high, but the economic benefits from attracting tourism are likely to prevail. France has taken it upon itself with President Emmanuel Macron wanting to turn the event into an international holiday. Tickets for the opening ceremony start at €2,700 and each match costs at least several hundred euros, but tourism receipts could provide a much-needed boost to the French economy.

Based on figures from past events, the financial burden is high, particularly due to specialized facilities, some of which have limited use after the Games.

In fact, according to research by experts from the University of Lausanne, the deficit from the organization of the Olympic Games has reached up to 5.7 billion dollars in Montreal for the 1976 Summer Games. For Athens, for example, the deficit is estimated at 4.3 billion dollars, while the total value of the event reached 18.7 billion dollars. Other surveys that have been prepared in recent years may calculate slightly different amounts. However, the result is that costs discourage countries from applying. Tokyo spent up to $150 million on the failed 2016 bid and about half that on the successful 2020 bid. Toronto has decided that it cannot provide the $60 million requested for the 2024 offer.

Some experts attribute the problem in part to the approach of the International Olympic Committee, which selects among applicants and sets conditions on infrastructure or ticket prices, which host countries must respect and pay. The IOC bears a limited financial burden of the event, while enjoying significant income from exclusive broadcasting rights.

However, the Olympic Games can have a positive effect on economic development and employment. 181,000 jobs will be created in Paris this year. Of course, this figure also includes existing positions, whose salaries are expected to remain stable, despite increased mobility.

Also, the Olympics always rely heavily on volunteers, who are unpaid. Although you can volunteer at some events for free, the cost of living in Paris this summer will be prohibitive. For example, the metro ticket will temporarily increase to 4 euros due to the increase in tourist flows. The Olympic Games will take place in France from July 26 to August 11 this year.


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