Paris 2024 Olympics Cost €6.6 Billion, Audit Finds Modest Economic Return
PARIS – The recently concluded Olympic and Paralympic Games Paris 2024 ultimately cost €6.6 billion, according to a report released Monday by the French Court of Auditors. While organizers initially projected expenses around €4.4 billion, the final tally reveals a meaningful budgetary increase, though the Court noted organizers successfully mitigated the risk of further cost overruns.
The audit, which examined the finances of the organizing committee (COJOP), indicates a limited economic impact despite the substantial investment. The report’s findings are particularly relevant as France prepares to bid for and potentially host the 2030 Winter Olympics, offering crucial lessons for future event planning. The Court of Auditors’ assessment underscores the importance of strong governance and financial oversight in managing the complexities of hosting a major international sporting event.
The COJOP reported revenues of €4.49 billion against expenses of €4.41 billion, demonstrating a degree of financial control. However, the overall cost, including infrastructure projects linked to the Games, reached €6.6 billion. The Court’s recommendations focus on streamlining organizational structures and enhancing clarity for future Olympic endeavors.
looking ahead to the potential 2030 Winter Games, the Court specifically advises limiting the number of coordinating bodies during the preparatory stages to improve governance during operations. It also stresses the need for more effective board operations within organizing structures, emphasizing clear communication of committee work. furthermore, the report calls for ensuring the independence, adequate resourcing, and transparency of audit, ethics, and remuneration committees to provide robust oversight and early warnings to governing bodies and oversight agencies.
