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All You Need to Know About the 54th Edition of the Olympic Games in Paris

The 54th edition of the Olympic Games will be held in Paris from July 26th to August 11th, marking a significant centenary since the city last hosted the event. Paris joins London as one of only two cities to host the Summer Olympics three times, promising a historic and grand spectacle.

Event Overview

A total of 10,500 athletes from 205 countries will compete in 329 medal events. The opening ceremony will be uniquely set on the River Seine, an ambitious choice symbolizing Paris’s grandeur and innovation. Following the Olympics, the Paralympics will take place from August 28th to September 8th, ensuring a full summer of inspiring sportsmanship and competition.

Return to Normality

After the unprecedented circumstances of the Tokyo 2020 Olympics, which were held a year late and without spectators due to the Covid-19 pandemic, Paris 2024 marks a return to normality. The French capital is ready to welcome over 15 million tourists, with nearly ten million tickets for the Olympics and three million for the Paralympics available. Fans from around the globe will gather to witness the world's finest athletes compete.

A 'New Era' of the Olympics

Paris 2024 promises to be a 'new era' for the Olympics, emphasizing sustainability and gender equality. This edition will feature an equal number of male and female athletes, a historic first. Additionally, new sports like breaking (breakdancing) will debut, aiming to attract younger audiences and expand commercial appeal.

Cost-Effective and Sustainable

In a significant shift towards sustainability and cost-effectiveness, Paris 2024 will utilize 95% existing or temporary venues. The only new permanent venue is the Aquatics Centre in Saint-Denis. The total cost is projected to be around €9 billion, considerably lower than recent Games. The local organizing committee, led by President Tony Estanguet and CEO Étienne Thobois, has a budget of €4.38 billion, reflecting a 15% increase since 2017.

Sponsorship and Funding

Paris 2024 has secured a robust sponsorship portfolio, featuring seven premium partners, 13 official partners, and 51 official supporters. Major sponsors include Accor, LVMH, and Orange. The revised sponsorship target of €1.24 billion is within reach. Additional funding comes from ticket sales, hospitality, licensing (€1.4 billion), and a €1.2 billion contribution from the IOC.

Media and Broadcasting

The Olympic Broadcasting Services (OBS) will produce over 11,000 hours of content, a 15% increase from Tokyo 2020. More than 30 media rights holders and 130 broadcast organizations will deliver the Games to audiences worldwide. Notable broadcasters include NBC in the US, Warner Bros Discovery in Europe, France Televisions, the BBC, China Media Group, CBC in Canada, Australia's Nine, Viacom18 in India, and SuperSport in Africa.

Economic and Social Impact

The legacy of Paris 2024 is expected to be far-reaching. An economic impact report forecasts that the Games could generate up to €11.145 billion for the Paris region between 2018 and 2034. Even conservative estimates suggest a €9 billion impact. Organizers are optimistic about the event's profitability, with Thobois hinting at a potential small profit, setting a positive precedent for future hosts.

Conclusion

As Paris prepares to host the 54th edition of the Summer Olympics, the city is set to showcase a blend of tradition and innovation. From its iconic venues and historic opening ceremony to groundbreaking gender equality and sustainability initiatives, Paris 2024 aims to inspire and leave a lasting legacy. The event not only promises thrilling sports action but also highlights the enduring appeal and adaptability of the Olympic Games.

Source: SportsPro Media