With the Paris 2024 Summer Olympics running July 26 through Aug. 11 and Olympics typically costing the host city far more than it gets back in tourism revenue, the personal-finance website WalletHub recently released its Paris 2024 Olympics By The Numbers report filled with fun facts, along with expert commentary.
Paris 2024 Stats
$8.2B+ – Estimated cost of hosting the 2024 Paris Olympics.
1st – Paris is the most vulnerable capital in Europe when it comes to heatwaves.
200 percent – Increase in Paris hotel prices for Olympics opening night.
40K – People who will join the 26 mile “Marathon for All” in Paris on August 10 at 9 p.m., considering heat issues.
45K – Number of security personnel who will work the Paris Games.
18 Years Old – Age of the youngest member of Team USA, swimmer Katie Grimes.
100 Years – Length of time since Paris last hosted the Summer Olympics.
For the full report, visit: http://wallethub.com/blog/olympics-fun-facts/22356
Expert Commentary
What safety tips do you have for US tourists who will attend the Paris Olympics?
“The safety tips that I would recommend most for tourists from the United States visiting Paris for the Olympic games are to always stay informed of one’s surroundings, know the local laws and customs (especially social norms), and also register with the United States Embassy abroad. This is important because a tourist would need to be able to locate and communicate with the Embassy in a very worst-case scenario.”
Nicholas Buzzelli – Assistant Professor, High Point University
“Try not to stand out as a potential target for thieves who prey on unsuspecting tourists. Be aware of your surroundings at all times and travel in groups whenever possible.”
Dennis Deninger – Professor, Syracuse University
Do you think the United States Olympic team will take first place in the medal count?
“Since the United States Olympic team has historically performed very well at the Summer Games, I think it is highly likely that the United States teams will secure a top finish in the medal count, especially in sports like gymnastics and basketball. Predicting the exact number of medals that United States teams will win, however, is very difficult since other nations, like France, China, and Russia, are always strong contenders.”
Nicholas Buzzelli – Assistant Professor, High Point University
“I think that Team USA will prevail in the medal count. However, what might be surprising to those watching from home is all the new fresh faces that will be highlighted on the Paris 2024 roster for Team USA. This comes after a long run of well-known Olympians like Michael Phelps who were household names and drew instant attention and viewership (as) well as brand power for sponsors. This year’s Team USA does include some veteran Olympians like Simone Biles, Caleb Dressel, Sha’Carri Richardson, and Katie Ledecky who should be able to help carry the medal count for Team USA.”
John Grady – Professor, University of South Carolina
What will be the impact of the Olympics on Paris’s economy?
“An estimated 3 billion euros in public funding and 7 billion more in private funding, including media rights and sponsorship, are being spent on the Paris Games. Tourists traveling to the Games are expected to spend an additional 2.6 billion euros. The impact on the Paris region is huge and will be felt well into the next decade.”
Dennis Deninger – Professor, Syracuse University
“The true financial impact of the Olympics on the Paris economy is always a hotly debated topic among sports economists and others who watch the economic impact of mega sporting events. What is clear, however, is that hosting the Olympic Games does bring added visibility to the host city as a tourism destination, enhancing its tourism prospects and destination image among potential tourists for quite some time after the Games have ended. There is also tremendous civic pride generated as an Olympic host city for the French people. An interesting aspect of the 2024 Olympic Games as the first Games with a full capacity of spectators since the pandemic. How this will play out to benefit the French economy and event tourism, in general, is uncertain but likely quite positive. This Olympics also presents a unique opportunity to highlight French global brands like Louis Vuitton as domestic sponsors of the event and will likely showcase blending luxury fashion with elite sport during the Games using competing athletes as brand ambassadors.”
John Grady – Professor, University of South Carolina
