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After carrying out the final calculations relating to the last high-risk year, the Organizing Committee of the Olympic Games (Cojo) was able to see that the revenues generated during the Paris 2024 Olympic Games exceeded the expenses by 26.8 million euros. it’s budget therefore amounts to 4.5 billion euros,without any decrease in recent months. The reason in particular for this success, ticketing, we learned on Wednesday from the organizers of the 2024 Olympic Games. these figures are to be presented this Thursday, December 12, during a board meeting.If these bills are adopted this Thursday, Tony estanguet plans to do so “Complete your mission” of the president and the Cojo as such will be dissolved at the end of June 2025.
Cojo’s budget, which is almost entirely private, is based on money from sponsors (1.238 billion euros), the International Olympic Committee (1.228 billion euros) and on ticket sales which were higher than expected at 1.333 billion euros , which is 88 million more than expected in December 2023. In total, more than 12 million tickets were sold. The approximately 40 million euros requested in the spring from the State and partner communities (city of paris, Ile-de-France region, continent) will not be activated. As for the distribution of the 27 million euro surplus, it has not yet been decided, although the law provides that a portion will go to the French olympic Committee (CNOSF), the IOC, and 60% to the development of French sport .
A heavier toll than expected for air transport
Another balance sheet emerging from the Paris Olympics: greenhouse gas emissions linked to this edition have been halved compared to previous ones, despite a higher-than-expected cost of air transport, according to data released by the organizers on Wednesday. “Today we are very proud to say that we have reduced the carbon footprint of the games by 54.6% compared to previous editions,” Georgina Grenon,director of,announced to journalists “environmental excellence” of the Paris Olympics. The balance was calculated by the organizers at 1.59 million tonnes of CO2 equivalent (teqCO2).
This is almost in agreement with the «cheap coal» that they had set themselves (1.58 million teqCO2) and substantially in line with the broader objective of halving the carbon footprint compared to the average of the London 2012 and Rio 2016 editions, which was approximately 3.5 million teqCO2. “We made considerable efforts in all areas of the association and until the last minute,” said Georgina Grenon. The construction footprint was particularly limited thanks to the use of 95% existing or temporary infrastructure, unlike the much-maligned football world Cup in Qatar.
But if total emissions were generally in line with forecasts,the relative weight of the different components is ultimately very different from what was initially expected.The projected emissions were split into three thirds: one for travel, another for construction, and a final third for gaming operations (accommodation, security, dining, etc.). Ultimately, these operations represent only 18% of the carbon footprint thanks to greater efforts than expected, for example in the energy field (using the electricity grid instead of generators) or favoring the rental of some equipment.
But the burden of travel turned out to be heavier than expected, ultimately accounting for 53% of the overall carbon footprint. “We broke ticket sales records,so we had more spectators than we initially expected,” Georgina grenon explained. Among these, more non-European spectators (12.1% of the total): as many Americans, Brazilians and Canadians who took the plane and therefore emitted a lot of CO2 to come.
“Bet kept”
“We are committed to reducing plastic by half compared to previous games, Georgina Grenon also recalled. And today, if we compare ourselves with London, with the same volumes distributed, we are at -52% of single-use plastic in catering. So bet kept.” The organizers also promised to finance projects that would sequester or avoid the emission of all the CO2 emitted, such as clean cooking systems in Africa or solar power plants in Senegal or Vietnam.
However, there is a flip side to the coin: the NGO France Nature Environnement recently filed a complaint in Nanterre against Coca-Cola, which it accuses of having deceived consumers during the 2024 Olympics by promising “zero waste” as a drinks supplier despite the use of plastic bottles. The soft drinks giant, for its part, said that these bottles would be “selected and compacted to be recycled”.
What are the key financial sources for the Paris 2024 Olympic Games?
Interview between Time.news Editor and Olympic Games Financial Expert
Time.news Editor: Good afternoon, and welcome to our special segment on the financial aspects of the upcoming Paris 2024 Olympic Games. Today, we have the pleasure of speaking with Dr. Emma Renaud, a leading expert in sports economics and event management. Emma, thank you for joining us.
Dr. Emma Renaud: Thank you for having me! I’m excited to discuss the financial landscape of such a monumental event.
time.news Editor: Let’s dive right in.The Organizing Committee of the Olympic Games has just reported a budget of 4.5 billion euros, with revenues exceeding expenses by 26.8 million euros. This is quite an achievement! what factors contributed to this positive financial outcome?
Dr.Emma Renaud: Absolutely! one of the most meaningful factors is indeed the ticket sales. The organizers have sold over 12 million tickets, bringing in approximately 1.333 billion euros—88 million euros more than they initially anticipated. this exceeded expectations and played a pivotal role in ensuring that revenues surpassed expenses.
Time.news Editor: that’s notable! How critically important is ticketing relative to other income sources, such as sponsors and the International Olympic Committee, in this budget?
dr. Emma Renaud: Ticketing is crucial; it comprises one of the largest slices of the financial pie. In this case, sponsors contributed 1.238 billion euros, and the International Olympic Committee added a further 1.228 billion euros.While sponsorship is significant, ticket sales tend to reflect public interest and engage a broader audience directly. A accomplished ticket sales strategy can build momentum and popularity for the event itself.
Time.news Editor: Speaking of public interest,what do you think triggered the higher-than-expected ticket sales this time around?
Dr. Emma Renaud: Several factors have combined to fuel that enthusiasm. Firstly, the excitement of hosting the Olympics in Paris—one of the world’s most iconic cities—naturally attracts attention. Secondly, the promotion and marketing strategies employed appear to resonate with potential attendees. Lastly, the post-pandemic environment has lead many people to seek experiences like attending live sporting events, creating a surge in demand.
Time.news Editor: That’s a fascinating perspective! the budget allocation also mentions that the approximately 40 million euros requested from the State and partner communities will not be activated. What does this indicate about the financial health of the Cojo?
dr. emma renaud: It reflects a strong position. It means the Cojo is not relying on public funds to balance its budget. Actually, it points to the Olympic Committee’s solid revenue strategy and its ability to generate significant financial backing privately. This can enhance the perception of the Games as a well-managed event that doesn’t burden taxpayers unnecessarily.
Time.news Editor: Very insightful! And what about the distribution of the 27 million euro surplus? any expectations or speculations on how that might be allocated?
Dr. Emma Renaud: Well, while there’s no official decision yet, typically, a portion of any surplus goes towards developing local sports initiatives or enhancing infrastructure, as mandated by law. It’s an opportunity for the Cojo to invest back into the community and improve the legacy of the Games.
Time.news Editor: Speaking of legacy, with Tony Estanguet, the Cojo president, preparing to complete his mission, what lasting impact do you foresee the Paris 2024 Olympics having on both the city and the broader Olympic movement?
Dr. Emma Renaud: This event could set a benchmark for future Games, especially in terms of financial transparency and sustainable practices.Moreover, for Paris, it’s not just about hosting; it’s about revitalization, enhanced infrastructure, and community engagement. I believe the legacy will be felt long after the closing ceremony in 2024.
Time.news Editor: Thank you, Dr. Renaud, for sharing your expertise with us today. Your insights into the financial aspects of the Olympic Games are truly valuable.
Dr. Emma Renaud: Thank you! It’s been a pleasure discussing such an exciting event with you. Let’s look forward to Paris 2024!
Time.news Editor: And to our viewers, stay tuned for more updates as we continue to follow the journey to the olympic Games in Paris.
