Euromonitor International has revealed that an additional three million people are expected in Paris for the Olympic Games in 2024.
Subsequent tourism spending is predicted to increase by €4 billion.
Alexander Göransson, Senior Consultant at Euromonitor International, in his report ‘Paris 2024 Olympics Games: Challenges and Opportunities for French Tourism’, said the Paris Games are expected to attract 15 million spectators, many locals and domestic day trippers, but forecasted up to three million additional visitors in Paris in 2024.
Göransson said that experience from previous Games shows that Olympic visitors spend more than regular visitors and that accommodation providers will be the main winners during the 17-day event.
“Short-term rentals will play a key role as the sector is more elastic in terms of capacity than hotels,” he said. “As of April 2023, it was reported that 1,000 Parisian hosts were taking bookings on Airbnb for the weeks of the Games but this is expected to grow exponentially, while hosts are increasing their prices by a factor of three during the Olympic weeks. The Games will also provide a boost to transportation providers and consumer food outlets, who will be catering for both day trippers and overnight visitors.”
For air travellers, Parisian airports are expected to be extremely busy. Göransson explained: “Airports will be busy and non-Olympic travellers are being advised to avoid them three days before the opening ceremony and after the closing ceremony.
“Arguably, Paris is the hub of the European high speed rail network, with connections to four European capitals – relieving pressure on Paris’s airports.”
Göransson concluded his findings by explaining what effects the Olympics will have on Paris in the future: “The true benefits of a successful Paris 2024, watched by a massive global television audience, will be felt in subsequent years. Unlike during the Olympics itself, this will benefit the overall tourism economy and not just hospitality, with Euromonitor International expecting a steady increase in inbound visitors to France and its capital city from 2025,” he said.