Net cost of Paris Olympic and Paralympic Games falls to 2.8 billion euros

(Patria) - A government research centre announced yesterday that the "net cost" of the Paris 2024 Summer Olympic and Paralympic Games for the French state has been reduced to 2.8 billion euros, AFP reported.

This figure has been "significantly reduced" from 6.6 billion euros announced in September by the national audit authority, with the adjustment reflecting the estimated impact on employment and infrastructure.

"Taking into account certain benefits, the climate dimension and the legacy value, which are still only partially measured, the overall cost of the Games is significantly reduced: it would be more than halved, to less than three billion euros," according to a "summary" obtained by AFP on Monday.

This "net cost" of 2.76 billion euros "would even fall to 1.5 billion euros, a reduction of more than four times," when taking into account "less conservative assumptions," the HCP announced.

The body conducted a "cost-benefit analysis" of the Paris Olympic Games "with the aim of covering all economic, social and environmental effects on France," the note states.

The study was carried out by the Research Centre for the Study and Observation of Living Conditions (Credoc), and overseen by a scientific committee.

The HCP said that the infrastructure built would have "long-term" benefits.
"Under certain assumptions, which can be improved over time, their value would amount to nearly three billion euros," the body announced.

Job creation was another important factor in reducing costs, with its value to society estimated at 200 million euros.

Employee bonuses brought a "net benefit of around 500 million euros," while increased participation in sport and associated health benefits are estimated at 250 million euros.

The HCP claimed that the "well-being of French spectators" can be estimated at 300 million euros.

"This is a short-term estimate. Several of these benefits may materialize or increase over time," the HCP said.