The net cost of the Paris 2024 Games is revised down to 2.8 billion euros after factoring in employment, infrastructure, and social benefits.
THE net cost of the 2024 Paris Summer Olympics and Paralympics to the French state has been revised down to 2.8 billion euros.
The government think tank, the high commission for planning (HCP), announced the adjusted figure on Monday.
It represents a significant reduction from the 6.6 billion euros estimated by the national audit body in September.
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The new calculation factors in the estimated impact on employment, long-term infrastructure benefits, and social value.
“By factoring in certain benefits, the climate dimension and legacy value… the total cost of the Games decreases considerably,” the HCP stated in a summary note.
It added the cost would be “more than halved, to under 3 billion euros.”
The analysis suggests the net cost could drop to as low as 1.5 billion euros under less conservative assumptions.
This “cost-benefit analysis” aimed to cover all economic, social, and environmental effects for France.
The HCP highlighted that the built infrastructure would deliver long-term benefits.
Their legacy value is estimated at nearly 3 billion euros under certain assumptions.
Job creation contributed an estimated 200 million euros in societal value to the revised calculation.
Employee bonuses generated a net benefit of around 500 million euros.
Increased sports participation and associated health benefits are valued at 250 million euros.
The HCP also assigned a 300 million euro value to the well-being derived by French spectators.
“This is a snapshot estimate; several of these benefits may materialise or increase over time,” the body noted.
The study was conducted by the Research Centre for the Study and Observation of Living Conditions (Credoc). – AFP
