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    What hosting the Olympics did for Paris

    By Sydney Jezik,

    10 hours ago
    https://img.particlenews.com/image.php?url=1THMFu_0uwgO4bK00
    The Eiffel Tower is seen in the background during play in the women's beach volleyball bronze medal match between Australia, left, and Switzerland, at the 2024 Summer Olympics, Friday, Aug. 9, 2024, in Paris, France. Paris 2024 fueled billions of dollars into business in and around Paris. | Louise Delmotte

    Team Great Britain is one of several Olympics-related organizations trying to share their resources with others.

    The team is donating its leftover food and equipment from the Paris Games to local French charities, per NBC . Among the donated supplies are king-sized mattresses and sports equipment.

    “Our French hosts have been wonderful in extending a welcome to us and our athletes,” said Hugh Robertson, who leads the British Olympic Association, per NBC. “(It) is an absolute pleasure that, where we can, we give something back to those communities.”

    Donations like these are one of the many positive impacts that the Olympics had on Paris.

    How the Olympics helped Paris

    The Olympics drew around 11.3 million tourists to Paris, per CNBC , and the Paralympic Games is expected to draw 4 million more.

    This year’s Games also saw record ticket sales, beating out the 1996 Atlanta Games′ 8.3 million, the article said.

    Airline bookings shot up as sports fans from around the world made their way to Paris. Hotels reached capacity. Small businesses were filled to the brim.

    The Games created what economists call a “sudden demand shock” — meaning a blip in the economy that may not positively impact businesses and consumers in the long run, CNBC reported.

    Even so, the Games left a positive economic mark on Paris, per CNBC . The 2024 Olympics is projected to create up to $12 billion (11.1 billion euros) in revenue for Parisians and related industries.

    “What we see is that the economic impact of the Games is very substantial,” said Christophe Dubi, the executive director of the Olympic Games, to CNBC. “This is an injection of resources in the local economy that leaves a profound impact now and in the future.”

    Los Angeles hunkers down for 2028 LA Games

    Los Angeles is expecting a similar demand shock in 2028.

    That will be Los Angeles’ third time hosting the Olympics, according to The Associated Press .

    The city is a major sports hub. Before the Los Angeles Games, it will host a FIFA World Cup game, the U.S. Women’s Open and the Super Bowl — so the city will be no stranger to giant international crowds.

    Los Angeles is opting not to build new structures for Olympic events. Instead, it will rely on existing stadiums that have hosted massive Taylor Swift concerts and NFL games.

    Money will go to cleaning up the waters off Long Beach (in part to avoid the health complaints that Paris saw with its swimmers in the Seine River), traffic control and security. Los Angeles has already sent law enforcement representatives to Paris to learn from existing Olympic security measures, per The Associated Press .

    The 2028 Games are expected to cost around $7 billion, the article said.

    “LA28 organizers are banking on ticket sales, sponsorships, payments from the International Olympic Committee and other revenue streams to cover the games’ $6.9 billion budget. The committee has brought in just over $1 billion toward a goal of $2.5 billion in domestic corporate sponsorships,” The Associated Press reported.

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