France’s top financial watchdog, the Cour des Comptes (Court of Audit), has released its first official estimate of public spending tied to the Paris 2024 Olympic and Paralympic Games—a staggering €5.96 billion (approx. $6.8 billion USD).
The estimate, outlined in a progress report released Monday, comes just weeks before the opening ceremony and in the context of growing global scrutiny around the long-term value of hosting mega sporting events.
Where the Money Went:
According to the audit:
- €2.77 billion was allocated for organizing the event itself
- €3.19 billion was spent on infrastructure, including facilities and urban development projects
These figures represent the first consolidated, government-backed insight into Olympic-related public expenditures since Paris won the hosting rights back in 2017.
Organizers Push Back: “The Math Is Misleading”
Paris 2024 organizers have challenged the Audit Office’s methodology, arguing that much of the spending being attributed to the Olympics predates the event or is part of ongoing civic development unrelated to the Games.
Tony Estanguet, the former President of the Paris 2024 Organizing Committee, responded directly:
“The real question should be: How much public money would have been saved if the Games weren’t held in Paris? That number would be far lower than €6 billion. We estimate true Games-related spending at under €2 billion.”
Estanguet also pointed to projected economic benefits estimated to be three to five times higher than the event’s direct costs — including boosts to tourism, employment, construction, and global visibility.
Audit Office: No Economic Impact Analysis Yet
The Cour des Comptes was careful to note that its report does not yet include an analysis of long-term economic gainsor losses. In fact, the Court revealed that:
- There is no official estimate of the Games’ impact on GDP or tax revenues
- The French tax authorities have not planned any such evaluation yet — a move the Court called “unsatisfactory”
They urged the government to immediately begin work on a full cost-benefit evaluation to ensure accountability and future planning clarity.
Time to Redefine Olympic ROI
The Paris 2024 debate captures the global crossroads of mega event hosting.
In the new economic climate, Olympic bids can no longer rely on vague promises of legacy. Host cities must clearly define what success looks like:
- Is it global prestige?
- Long-term infrastructure uplift?
- Tourism rebound?
- Or domestic community impact?
The absence of a unified economic performance framework — even this close to the Games — highlights a critical flaw in how global sporting events are still being measured.
