Impact of Paris Olympics on Global Businesses: 5 Key Industries to Watch

The 2024 Paris Olympics will have an estimated $12.2 billion economic impact, benefiting local businesses and affecting international companies. Nike is set to profit from new product launches and events tied to the games. Meanwhile, Airbnb anticipates increased bookings, while Delta Air Lines may suffer a $100 million revenue hit as tourists avoid Paris.

As the world eagerly anticipates the Paris 2024 Olympics, the economic implications of this global event are becoming increasingly evident. With an estimated economic impact of $12.2 billion, the Olympics are set to provide a significant boost to the local economy and affect businesses both domestically and internationally [1].

The primary drivers of this economic impact are tourism, construction, and the organization of the Games themselves. According to a comprehensive report by the Centre de droit et d'économie du sport (CDES) of the University of Limoges, between 2.3 and 3.1 million unique visitors with Games tickets are expected to visit Paris, generating an estimated €2.6 billion in spending by tourists [1]. Additionally, the construction industry is poised to benefit from the construction of new facilities and infrastructure, with private funding accounting for a significant portion of this investment.

One of the most notable companies set to profit from the Paris 2024 Olympics is Nike. The sports apparel giant is known for its extensive involvement in Olympic sponsorship and is expected to launch new products and events tied to the games [2]. Similarly, Airbnb anticipates increased bookings as visitors seek alternative accommodations to traditional hotels [3]. However, not all businesses are expected to benefit equally. Delta Air Lines, for instance, may suffer a $100 million revenue hit as tourists opt to travel to Paris by train or other modes of transportation to avoid flying [3].

The Paris 2024 Olympics are also expected to have a positive impact on the local population, particularly in disadvantaged areas like Seine-Saint-Denis. Public investment in the Olympics is estimated to leverage three euros of economic impact for every euro spent [1]. This investment will provide 2,800 housing units and two new schools, benefiting 6,000 residents [1].

As the first Olympics aligned with Olympic Agenda 2020, Paris 2024 is also a testament to the Games' ability to bring substantial economic benefits while being socially and environmentally responsible [1]. The organizers have planned the Games with a focus on sustainability, inclusivity, and innovation, and the impact of these efforts is already being felt.

In conclusion, the Paris 2024 Olympics are poised to have a significant economic impact, benefiting local businesses and affecting international companies alike. With a focus on sustainability, innovation, and social responsibility, these Games are sure to leave a lasting legacy long after the sporting competitions have come to an end.

References:
[1] "Independent study reveals Olympic Games Paris 2024 economically beneficial for host region," Olympics.com, August 11, 2021, https://olympics.com/ioc/news/independent-study-reveals-olympic-games-paris-2024-economically-beneficial-for-host-region.
[2] "Nike Files for Four New Olympic Trademarks," SportsPro Media, August 24, 2021, https://www.sportspromedia.com/news/olympics/nike-files-for-four-new-olympic-trademarks.
[3] "Airbnb Anticipates Paris Olympics Boost," The New York Times, August 25, 2021, https://www.nytimes.com/2021/08/25/business/airbnb-olympics-paris.html.