Macron’s assurance on the profitability of the nation’s investment #
This comment was made during an interview before he embarked on a tour of the Grand Palais Olympic site, which is scheduled to be completed in 100 days.
While the total cost and financial impact of the games have not been precisely calculated yet, Macron expressed confidence in the profitability of the investments. He emphasized that the investments are sustainable and have already boosted economic activity.
Predicted economic impact surpassing €6 billion #
Intriguingly, Macron predicted that the economic benefits induced by the Olympics would exceed €6 billion. This figure is derived from the contributions of over 2,000 companies involved in the games. According to Paris 2024, approximately 2,200 companies have been selected for various roles in the games, creating numerous jobs.
An updated study on the economic impact is expected to be released by Paris 2024 by the end of the month. The last evaluation seven years ago proposed three scenarios. The highest estimate was €10.7 billion, and the lowest was €5.3 billion. However, sports economists predict a downward revision of the maximum amount, possibly below the symbolic €10 billion mark.
No white elephant, promises Macron #
Macron reassured that there would be no ‘white elephant,’ referring to abandoned Olympic sites which often cause budget overruns. He emphasized that Solideo, the public establishment that delivers the 70 Olympic works, ensures on-time delivery within the budget.
The « exceptional Olympic village » built in Saint-Denis, Saint-Ouen, and l’Ile-Saint-Denis, which will host 14,500 athletes during the games, will leave more than 4,000 homes, social housing, offices, and commercial activities in areas that desperately need them.
- Investment by France: €2 billion
- Predicted economic impact: Over €6 billion
- Number of companies involved: Over 2,200
- Legacy: Over 4,000 homes, social housing, offices, and commercial activities
FAQ:
- How much has France invested in the Paris 2024 Olympics?France has invested €2 billion in the Paris 2024 Olympics.
- What is the predicted economic impact of the Olympics?President Macron predicts an economic impact exceeding €6 billion.
- How many companies are involved in the games?Over 2,200 companies are involved in various roles for the games.
- What will be the legacy of the games?The games will leave over 4,000 homes, social housing, offices, and commercial activities in areas that need them.
- What does President Macron mean by ‘no white elephant’?Macron refers to the lack of abandoned Olympic sites which often cause budget overruns.
