Thanks to the success of sponsorships, contributions, strategic management, and over 12 million ticket sales, the budget for the Paris 2024 Olympic and Paralympic Games has been closed with a surplus of almost €27 million, according to the President of the Organising Committee, Tony Estanguet.
The Paris 2024 Olympic and Paralympic Organising Committee has confirmed that the final budget for the event will reach €4.5 billion. Speaking at a press conference ahead of a board meeting, Estanguet, expressed his satisfaction with the positive results: “It is very satisfying to present these figures because they are positive.”
The triple Olympic canoeing champion now leading the organisation of the 33rd Olympic Games of the modern era, stressed that the committee’s income exceeded expenditure by €26.8 million, a remarkable achievement for an event of this size.
The committee’s initial budget was set at €3.8 billion, which was already higher than the €3.2 billion forecast in the 2017 bid documents. However, inflation and expanded forecasts led to a budget adjustment. The largest increase occurred in December 2022, when the budget rose by €400 million.
Funding came from three main sources: €1.238 billion from sponsors, €1.228 billion from the IOC and €1.333 billion from the sale of more than 12 million tickets, which exceeded expectations. “The success of the event in terms of public attendance was key to achieving these figures,” added Estanguet.
In addition, the event has received significant support from the infrastructure group Solideo, which is responsible for building the Olympic Village and other key facilities, mainly on the outskirts of the French capital.
Including infrastructure, the total cost of the Games is close to €9 billion, a figure €2 billion higher than the 2019 estimate.
However, the management of public costs continues to raise questions. According to Charles de Courson, France’s general budget rapporteur, €1.9 billion remains unaccounted for, including bonuses paid to police officers.
Tony Estanguet, who plans to complete his term as president if the accounts are approved, made it clear that Paris 2024 will be remembered not only for its financial figures but also for its management, which lived up to the expectations of a historic event for the French capital.
