$8.2 billion price tag makes Paris 2024 the sixth most expensive Olympics in history

FAYETTEVILLE, Ark. (KNWA/KFTA) — As the world counts down to the 2024 Summer Olympics starting in Paris on July 26, the city prepares for a surge of fans and athletes — and for one of the most expensive Games in history.

This year’s Olympic Games cost France over $8.2 billion in U.S. dollars, according to a recent report by WalletHub .

Paris 2024 now ranks as the sixth most expensive Games in history across both summer and winter Olympics.

Sochi’s 2014 Winter Olympics, which cost nearly $25 billion, still hold the record as the most expensive games held.

When Paris hosted the 1924 Summer Olympics a century ago, the total expenditure was about 10 million French Francs , which would equate to approximately $526,000 USD toda y.

Hosting the Olympics is a notoriously costly business . But what is all this money being spent on?

Breaking down the budget

Approximately $3.2 billion USD went towards investments towards the city’s infrastructure prior to the Games, according to WalletHub. This total includes enhancements to highways, railroads, airports, hotels and related expenditures.

The French Government also spent $348 million USD on security measures, such as the 45 thousand security personnel that will work the Games.

Paris 2024 states that 96% of the Organizing Committee’s budget comes from private revenues, with the remaining 4% sourced from public funds such as tax revenue.

No pain, no gain?

Hosting the Olympics involves risks, but the rewards can be sweet. Syracuse sports communications professor Dennis Deninger argues that France will see an economy boost after the 2024 Games.

“Tourists traveling to the Games are expected to spend an additional 2.6 billion euros,” Syracuse professor Dennis Deninger told WalletHub. “The impact on the Paris region is huge and will be felt well into the next decade.”

Other experts say it is too soon to tell.

“The true financial impact of the Olympics on the Paris economy is always a hotly debated topic among sports economists and others who watch the economic impact of mega sporting events,” John Grady , University of South Carolina professor, said. “What is clear, however, is that hosting the Olympic Games does bring added visibility to the host city as a tourism destination.”

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