The budget of the Paris 2024 Olympic Games

Organized every four years, the Olympic Games are a global event that requires careful planning and the establishment of a substantial budget. In this article, by providing details on the distribution of expenses as well as the challenges related to budget management, we will reveal the financial behind-the-scenes of this major event for its 33rd edition, Paris 2024, in France.

The 33rd edition of the Paris 2024 Olympic Games

Named “Paris 2024”, the 33rd edition of the Olympic Games will take place from July 26 to August 11, 2024 in Paris as well as in some other cities in France. This is the second time for France to host such an event and the French capital has the advantage that the majority of its stadiums, swimming pools and fields where the competitions will take place already exist. Paris therefore has fewer major and costly works to carry out than other cities that would host the games. However, a few months before the start of the Olympic Games, the budget allocated for this organization is much higher than expected.

The distribution of the budget for the Paris 2024 Olympic Games according to expenses

The Olympic Games involve various organizational aspects that require not only a large budget, but also a significant distribution of the budget to be able to cover the event for the duration of its duration. For Paris 2024, the budget is divided between:
• Sports infrastructure: the construction and renovation of stadiums, arenas, Olympic villages and other sports facilities are necessary to accommodate the competitions, athletes, technical staff and coaches as well as referees for different disciplines. As part of the 2024 Olympic Games, the main projects are those of the Olympic Village, the Aquatic Center and the Arena Porte de la Chapelle. An amount of approximately 1.7 billion euros is invested in these Olympic works.
• Security: at least €320 million is being mobilised to secure the Olympic Games
• Technology and broadcasting: around 12% of the forecast budget is being invested in cutting-edge technological infrastructure to ensure the broadcasting of events and media coverage. For Paris 2024, the order of magnitude of the budget is €510 million planned.
• Medical services: the investment is around 8% of the general budget for the provision of quality medical facilities, medical staff and health services for athletes, accompanying persons and spectators.
• Transport: an efficient transport system is planned for the movement of athletes, officials and spectators between Olympic venues during the Paris 2024 Olympic Games. A budget of around €225 million will be used for transport.
• Logistics: managing accommodation, catering, ticketing and event planning generates a bill of around €8.7 million
• Promotion and marketing: global advertising campaigns and promoting the image of the Olympic Games cost around 5% of the organisation's budget.
The budget for the Paris 2024 Olympic Games
Budget allocated for the Paris 2024 Olympic Games

In 2017, France, when submitting its bid for the Paris 2024 Olympic Games, announced a budget of around €4.8 billion, which has been adjusted several times due to inflation and the increase in certain expenses. Today, this budget is estimated at around €8.8 billion, provided by two main channels: the Organising Committee for the Olympic and Paralympic Games (COJOP) on the one hand and the Olympic Works Delivery Company (SOLIDEO).
Although not all funding has yet been identified, public investments related to the Games are estimated at some €2.7 billion and additional funding at €553.4 million.

Funding sources for the Paris 2024 Olympic Games

The budget for organizing the Paris 2024 Olympic and Paralympic Games is funded almost entirely by private revenues from the International Olympic Committee (IOC), corporate partners and ticketing. This budget is used to finance all aspects related to the planning, organization and delivery of the Games. In addition to this, there is the contribution of global and official partners as well as official supporters, but also the television broadcasting rights of the various channels.

Organizing the Olympic Games is a colossal effort requiring rigorous financial management given the complexity of budget distribution to ensure the continued success of this emblematic event. And well beyond the figures, embarking on the organisation of the Olympic Games allows the host country to benefit from the considerable economic spin-offs generated by the event and the prestige that emanates from it; which will be the case for Paris this