{"id":83095,"date":"2025-04-10T15:33:20","date_gmt":"2025-04-10T13:33:20","guid":{"rendered":"https:\/\/visionarymarketing.com\/?p=83095"},"modified":"2025-06-10T12:57:36","modified_gmt":"2025-06-10T10:57:36","slug":"2024-paris-olympics-success","status":"publish","type":"post","link":"https:\/\/visionarymarketing.com\/en\/2025\/04\/10\/2024-paris-olympics-success\/","title":{"rendered":"Behind the Torch: How the Olympics Reshape Economies"},"content":{"rendered":"<p><em>How does hosting the Olympics reshape a country\u2019s economy? The truth is, it&#8217;s hard to put numbers on the true <strong>economic effect<\/strong> of the Olympic Games but there are measurable statistics that we can use. Hosting the games requires a ton of strategy, planning, and coordination; to make a profit out of it is even harder. We will be looking at the economic effect of the <strong>Paris 2024 Olympics<\/strong> and comparing other countries that have hosted the Olympics.\u00a0<\/em><\/p>\n<h1><strong>Behind the Torch: How the Olympics Reshape Economies<\/strong><\/h1>\n<figure id=\"attachment_83103\" aria-describedby=\"caption-attachment-83103\" style=\"width: 1600px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-83103 size-full\" src=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-1.jpg\" alt=\"Paris 2024 Olympics\" width=\"1600\" height=\"897\" srcset=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-1.jpg 1600w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-1-500x280.jpg 500w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-1-1024x574.jpg 1024w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-1-768x431.jpg 768w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-1-1536x861.jpg 1536w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-1-390x220.jpg 390w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><figcaption id=\"caption-attachment-83103\" class=\"wp-caption-text\">Behind the Torch, the Olympics reshape the economy &#8211; Image generated with Midjourney and our personalised mode<\/figcaption><\/figure>\n<h3><b>What Does it Mean For a Country to \u201cHost\u201d the Olympics?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Countries that have put in a bid are awarded the opportunity to host the Olympics between <strong>7-11 years<\/strong> before the event itself. The IOC or International Olympic Committee will vote on who they think will be the best fit for the Olympic games of their respective year. When a <\/span><span style=\"font-weight: 400;\">country hosts the games, they are expected to provide accommodations for athletes and to have places that meet the guidelines to run all games and events.\u00a0 <\/span><!--more--><\/p>\n<h3><b>The Details About the Paris 2024 Olympics<\/b><\/h3>\n<figure id=\"attachment_83105\" aria-describedby=\"caption-attachment-83105\" style=\"width: 1600px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-83105 size-full\" src=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-3.jpg\" alt=\"Paris 2024 Olympics\" width=\"1600\" height=\"897\" srcset=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-3.jpg 1600w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-3-500x280.jpg 500w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-3-1024x574.jpg 1024w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-3-768x431.jpg 768w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-3-1536x861.jpg 1536w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-3-390x220.jpg 390w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><figcaption id=\"caption-attachment-83105\" class=\"wp-caption-text\">The Paris 2024 Olympics took place from Fri, Jul 26, 2024 \u2013 Sun, Aug 11, 2024 &#8211; Image generated with Midjourney and our personalised mode<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Exceeding many expectations, economists&#8217; beli<\/span><span style=\"font-weight: 400;\">efs, and inflationary pressures, the Paris 2024 Olympic organizing committee closed their financial account with a <strong>surplus<\/strong> of at least <\/span><a href=\"https:\/\/press.paris2024.org\/news\/board-of-directors-paris-2024-final-budget-in-surplus-by-at-least-26-8-million-euros-116f4-7578a.html\"><span style=\"font-weight: 400;\">\u20ac26.8 million<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Paris 2024 Olympics were truly an impressive feat, not only making a profit but also doing so while also <strong>cutting their carbon footprint by <\/strong><\/span><strong><a href=\"https:\/\/press.paris2024.org\/news\/board-of-directors-paris-2024-final-budget-in-surplus-by-at-least-26-8-million-euros-116f4-7578a.html\">54.6%<\/a><\/strong><span style=\"font-weight: 400;\"> (compared to averages of the London 2012 and Rio 2016 games). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This was the <strong>third time<\/strong> Paris has hosted the Olympics, tying it with <strong>London<\/strong> for the two cities that have hosted the games the most times. Although hosting the Olympic Games sounds like all fun and glory, there are many costs and factors that come into play.\u00a0<\/span><\/p>\n<h3><b>Unveiling the Costs of Hosting the Olympics<\/b><\/h3>\n<figure id=\"attachment_83145\" aria-describedby=\"caption-attachment-83145\" style=\"width: 1920px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-83145 size-full\" src=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/visual-selection-8.png\" alt=\"Paris 2024 Olympics\" width=\"1920\" height=\"1405\" srcset=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/visual-selection-8.png 1920w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/visual-selection-8-410x300.png 410w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/visual-selection-8-1024x749.png 1024w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/visual-selection-8-768x562.png 768w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/visual-selection-8-1536x1124.png 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><figcaption id=\"caption-attachment-83145\" class=\"wp-caption-text\">Diagram produced with Napkin<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The Olympics are one of the most expensive and biggest events to host and take place over several days. Every country has their own approach when it comes to hosting the Olympics; some spend their money more wisely than others. <\/span><span style=\"font-weight: 400;\"><strong>Total expenditures<\/strong> for hosting the games ended up being around <\/span><a href=\"https:\/\/press.paris2024.org\/news\/board-of-directors-paris-2024-final-budget-in-surplus-by-at-least-26-8-million-euros-116f4-7578a.html\"><span style=\"font-weight: 400;\">\u20ac4,453.9 million.<\/span><\/a><span style=\"font-weight: 400;\">\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Two new stadiums that were created for the Olympic Games: <strong>Olympics Aquatic Center<\/strong> and the <strong>Adidas Arena<\/strong>. The construction an<\/span><span style=\"font-weight: 400;\">d creation of the<\/span><span style=\"font-weight: 400;\"> Adidas arena cos<\/span><span style=\"font-weight: 400;\">t around <\/span><a href=\"https:\/\/www.businessinsider.com\/paris-olympics-costs-tickets-stadiums-2024-7?token=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJmaXJzdF9uYW1lIjoiRGVhbiIsImxhc3RfbmFtZSI6Ikdheml0IiwibWVtYmVyX2lkIjoiOTBiYzU3ZjYtN2M5Yi00NTEwLTk4NjQtOWQxMjliMGQyYTllIiwiZW1haWwiOiJleHRyYWVtYWlsZm9yc3R1ZmY2QGdtYWlsLmNvbSIsInN1YiI6IjkwYmM1N2Y2LTdjOWItNDUxMC05ODY0LTlkMTI5YjBkMmE5ZSIsImlhdCI6MTc0NDAxNDU2MiwiZXhwIjoxNzUxNzkwNTYyLCJhdWQiOiJCNnNJWEtMaWluIiwiaXNzIjoiaHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbSIsImp0aSI6IjQ3ZDA1YzJhLWJhNmMtNDg0Ny1iZTc5LWQ0ZTY4NTllNjYwNCJ9.95yMLRg1TjxF-g_wCMxT9nHID8SXUjfcL4-aPApj-MY&amp;accountCreated=true#an-estimated-3-2-billion-was-dedicated-to-infrastructure-investments-2\"><span style=\"font-weight: 400;\">\u20ac150 million<\/span><\/a><span style=\"font-weight: 400;\">. The Olympics Aquatic Center cost aroun<\/span><span style=\"font-weight: 400;\">d <\/span><a href=\"https:\/\/www.businessinsider.com\/paris-olympics-costs-tickets-stadiums-2024-7?token=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJmaXJzdF9uYW1lIjoiRGVhbiIsImxhc3RfbmFtZSI6Ikdheml0IiwibWVtYmVyX2lkIjoiOTBiYzU3ZjYtN2M5Yi00NTEwLTk4NjQtOWQxMjliMGQyYTllIiwiZW1haWwiOiJleHRyYWVtYWlsZm9yc3R1ZmY2QGdtYWlsLmNvbSIsInN1YiI6IjkwYmM1N2Y2LTdjOWItNDUxMC05ODY0LTlkMTI5YjBkMmE5ZSIsImlhdCI6MTc0NDAxNDU2MiwiZXhwIjoxNzUxNzkwNTYyLCJhdWQiOiJCNnNJWEtMaWluIiwiaXNzIjoiaHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbSIsImp0aSI6IjQ3ZDA1YzJhLWJhNmMtNDg0Ny1iZTc5LWQ0ZTY4NTllNjYwNCJ9.95yMLRg1TjxF-g_wCMxT9nHID8SXUjfcL4-aPApj-MY&amp;accountCreated=true#an-estimated-3-2-billion-was-dedicated-to-infrastructure-investments-2\"><span style=\"font-weight: 400;\">$<\/span><span style=\"font-weight: 400;\">204 million<\/span><\/a><span style=\"font-weight: 400;\"> to buil<\/span><span style=\"font-weight: 400;\">d. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The colorful opening ceremony along the Seine River, woul<\/span><span style=\"font-weight: 400;\">d end up costing over<\/span><a href=\"https:\/\/www.rfi.fr\/en\/france\/20241024-lavish-paris-olympics-river-ceremony-cost-%E2%82%AC100m-finance-report-reveals\"> <span style=\"font-weight: 400;\">\u20ac<\/span><span style=\"font-weight: 400;\">100 million,<\/span><\/a> <span style=\"font-weight: 400;\">and even more if you factor in security costs. The Olympic Village was spread throughout 3 different cities, costing upwards of <\/span><a href=\"https:\/\/www.dwell.com\/article\/paris-2024-summer-olympic-games-village-002bb1a9\"><span style=\"font-weight: 400;\">$1.5 billion<\/span><\/a><span style=\"font-weight: 400;\">. Other things such as the Seine River cleanup, staffing, security, broadcasting, renovations, and other logistics are hard to measure. <\/span><\/p>\n<h3><b>Revenue from hosting the Paris 2024 Olympics<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><strong>Total revenue<\/strong> made from hosting the Olympics ended up being around<\/span> <a href=\"https:\/\/press.paris2024.org\/news\/board-of-directors-paris-2024-final-budget-in-surplus-by-at-least-26-8-million-euros-116f4-7578a.html\"><span style=\"font-weight: 400;\">\u20ac4,480.7 million<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The majority of this revenue came from<strong> ticket sales<\/strong>, approximately <\/span><a href=\"https:\/\/www.sportcal.com\/financial\/surplus-of-e26-8m-revealed-in-final-paris-2024-budget\/\"><span style=\"font-weight: 400;\">\u20ac1.333 billion<\/span><\/a><span style=\"font-weight: 400;\">. Over 12 million tickets were sold during these games, and ticket sales exceeded estimates by over <\/span><a href=\"https:\/\/www.sportcal.com\/financial\/surplus-of-e26-8m-revealed-in-final-paris-2024-budget\/\"><span style=\"font-weight: 400;\">\u20ac348 million<\/span><\/a><span style=\"font-weight: 400;\">. Another <\/span><a href=\"https:\/\/www.sportcal.com\/financial\/surplus-of-e26-8m-revealed-in-final-paris-2024-budget\/\"><span style=\"font-weight: 400;\">\u20ac<\/span><\/a><span style=\"font-weight: 400;\">1.238 billion came from <strong>sponsorships<\/strong> and <strong>partnerships<\/strong>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The IOC (International Olympic Committee) also allocated around <\/span><a href=\"https:\/\/www.sportcal.com\/financial\/surplus-of-e26-8m-revealed-in-final-paris-2024-budget\/\"><span style=\"font-weight: 400;\">\u20ac<\/span><\/a><span style=\"font-weight: 400;\">1.228 billion to help fund it. Pu<\/span><span style=\"font-weight: 400;\">blic subsidies totaled <\/span><a href=\"https:\/\/www.sportcal.com\/financial\/surplus-of-e26-8m-revealed-in-final-paris-2024-budget\/\"><span style=\"font-weight: 400;\">\u20ac<\/span><\/a><span style=\"font-weight: 400;\">204.1 million, which was used entirely to fund the <strong>Paralympic Games<\/strong>. These financial results also meant that the organizers would not have to spend the <\/span><a href=\"https:\/\/www.sportcal.com\/financial\/surplus-of-e26-8m-revealed-in-final-paris-2024-budget\/\"><span style=\"font-weight: 400;\">\u20ac<\/span><\/a><span style=\"font-weight: 400;\">43 million reserve package, which was available if necessary. The overall cost increase from the estimated cost was only <\/span><a href=\"https:\/\/www.sportcal.com\/financial\/surplus-of-e26-8m-revealed-in-final-paris-2024-budget\/?cf-view\"><span style=\"font-weight: 400;\">17%, <\/span><\/a><span style=\"font-weight: 400;\">which is the <strong>smallest in Olympic Games history<\/strong>.\u00a0\u00a0<\/span><\/p>\n<figure id=\"attachment_83140\" aria-describedby=\"caption-attachment-83140\" style=\"width: 2232px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-83140 size-full\" src=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-4.jpeg\" alt=\"2024 Paris Olympics\" width=\"2232\" height=\"1692\" srcset=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-4.jpeg 1920w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-4-396x300.jpeg 396w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-4-1024x776.jpeg 1024w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-4-768x582.jpeg 768w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-4-1536x1164.jpeg 1536w\" sizes=\"(max-width: 2232px) 100vw, 2232px\" \/><figcaption id=\"caption-attachment-83140\" class=\"wp-caption-text\">Revenue sources for the Paris 2024 Olympics, made using Napkin AI.<\/figcaption><\/figure>\n<h3><b>Intangible Economic Benefits<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Hosting the Olympics not only creates a physical mone<\/span><span style=\"font-weight: 400;\">y surplus but also brings a lot of intangible benefits. Some of those benefits include <strong>global recognition, publicity, and urban development<\/strong>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hosting the Olympics gives the country a reason to improve many things in preparation for such a big event. Additionally, investors are more likely to invest in and support a country that has successfully hosted the games.<\/span><\/p>\n<h3><b>Intangible Economic Detriments<\/b><\/h3>\n<p>Not everyone in the world is a huge fan of the Olympic Games. Many locals living in cities that host the Olympics actually believe that it is detrimental to either them or their community. <strong>Inflation<\/strong> spikes due to the increase of tourists, forces locals to <strong>pay a higher price<\/strong>. Additionally, many local businesses lose customers due to <strong>road blockages<\/strong> and <strong>construction<\/strong> for the games.<\/p>\n<p>Regular customers choose to stay home during these times because of how busy and hectic things can get. <em>&#8220;The situation is catastrophic. Since July 18, in the gray zone where access is limited, the drop in attendance in bars and restaurants has been between <a href=\"https:\/\/www.lemonde.fr\/economie\/article\/2024\/07\/25\/jo-2024-trou-d-air-pour-les-restaurateurs-parisiens_6257812_3234.html\">40% and 80%<\/a><\/em>,&#8221; protests Frank Delvau, president of the Union of Trades and Industries of the Paris-Ile-de-France Hotel Industry.<\/p>\n<h3>Where Does the Money Go?<\/h3>\n<p>The money from the Paris Games went to 6 individual categories. International Olympics Committee, Paris Organizing Committee, French Government, Local Authorities, Businesses, and Regional Economy.<\/p>\n<figure id=\"attachment_83142\" aria-describedby=\"caption-attachment-83142\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-83142 size-full\" src=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-6-scaled.jpeg\" alt=\"2024 Paris Olympics\" width=\"2560\" height=\"2103\" srcset=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-6-scaled.jpeg 1920w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-6-365x300.jpeg 365w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-6-1024x841.jpeg 1024w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-6-768x631.jpeg 768w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/untitled-6-1536x1262.jpeg 1536w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><figcaption id=\"caption-attachment-83142\" class=\"wp-caption-text\">Financial Facts and Figures of the Paris 2024 Olympics, made using Napkin AI.<\/figcaption><\/figure>\n<h3><b>Examples (Successes and Failures)<\/b><\/h3>\n<figure id=\"attachment_83106\" aria-describedby=\"caption-attachment-83106\" style=\"width: 1600px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-83106 size-full\" src=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-4.jpg\" alt=\"2024 Paris Olympics\" width=\"1600\" height=\"897\" srcset=\"https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-4.jpg 1600w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-4-500x280.jpg 500w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-4-1024x574.jpg 1024w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-4-768x431.jpg 768w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-4-1536x861.jpg 1536w, https:\/\/visionarymarketing.com\/wp-content\/uploads\/2025\/04\/olympics-4-390x220.jpg 390w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><figcaption id=\"caption-attachment-83106\" class=\"wp-caption-text\">Impact of the Olympics on the economy: there are successes and failures &#8211; Image generated with Midjourney and our own personalised mode<\/figcaption><\/figure>\n<h3><strong>Paris 2024<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The Paris 2024 Olympics is a great example of how hosting the games can actually be profitable and beneficial for a country\u2019s economy. Not only did they make a profit, but they were also able to benefit from many other factors. The cleaning process for the Seine River which is known to be not very clean, wasn&#8217;t really taken too seriously until the preparation for the 2024 Olympics, where the plan was for the athletes to<strong> swim in the Seine<\/strong>. Also, what once served as the Olympic village for the athletes is being turned into a <a href=\"https:\/\/www.theplan.it\/eng\/whats_on\/the-paris-2024-olympic-village-now-open\">Parisian neighborhood.<\/a><\/span><\/p>\n<h3><strong>Athens 2004<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The 2004 Olympics were held in Athens, Greece, and to this day they still have debt to be paid because of the games. They created venues for the games, which were left <strong>underused<\/strong> and even <\/span><a href=\"https:\/\/olympics.time.com\/2012\/07\/09\/amid-economic-turmoil-some-greeks-look-back-at-2004-olympics-as-losing-proposition\/\"><span style=\"font-weight: 400;\">disused<\/span><\/a><span style=\"font-weight: 400;\"> after, and have been paying to maintain them. This event was grossly <strong>miscalculated<\/strong>, and although the event itself was a success and Greece enjoyed the spotlight during the Olympics, the financial burden was deeply regrettable.\u00a0<\/span><\/p>\n<h4><b>Reforms and Future Considerations<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">To save on costs, host countries should use existing infrastructure instead of creating temporary or custom venues for specific events. Countries should start to prepare for the Olympic Games for years to come, even if very subtly. <strong>Support local businesses<\/strong> by creating pop-ups or features instead of having big brands steal the show. Get the local community involved when making big decisions that will also affect locals.\u00a0<\/span><\/p>\n<h3><b>Conclusion<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Taking all of this into account, you can see that even with many intangible effects, the Olympics have a huge effect on a country&#8217;s economy. Paris was able to create a profitable event and gained mass publicity as well as general attraction because of the Olympic Games and therefore it was economically beneficial to the country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Not only was a profit made (which will be put into sports in France), they did so while reducing carbon footprint emissions by over <a href=\"https:\/\/press.paris2024.org\/news\/board-of-directors-paris-2024-final-budget-in-surplus-by-at-least-26-8-million-euros-116f4-7578a.html\">50%<\/a>, cleaned up the city, and made many renovations in the city of Paris, ultimately making it a wealthier and more pleasant place to be in. <\/span><span style=\"font-weight: 400;\">However, although this benefited the country itself, it has had harsh effects on local restaurants in Paris.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Not every country, and especially with Greece in 2004, was able to be as successful as Paris was in 2024.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How does hosting the Olympics reshape a country\u2019s economy? The truth is, it&#8217;s hard to put numbers on the true economic effect of the Olympic Games but there are measurable statistics that we can use. Hosting the games requires a ton of strategy, planning, and coordination; to make a profit out of it is even &hellip;<\/p>\n","protected":false},"author":128,"featured_media":83103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5065],"tags":[],"class_list":["post-83095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Were the 2024 Paris Olympics an economic success?<\/title>\n<meta name=\"description\" content=\"In this piece we are looking at the economic effect of the Paris 2024 Olympics and comparing other countries that have hosted the Olympics.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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