Paris 2024: The Rugby Union World Cup, which recently commenced in France, is being viewed as a preliminary event. Leading up to the grand Paris Olympic 2024 Games. This prestigious occasion serves as a preview of the excitement that will engulf the city. Setting the stage for the forthcoming Olympic extravaganza.

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However, the staggering influx of approximately 600,000 international visitors during the Rugby World Cup is merely. A prelude to the colossal wave of tourists that is anticipated to descend upon Paris for the momentous Paris 2024. This spectacular event promises not only opportunities but also challenges for the French tourism industry. As it aspires to cater to a global television audience of four billion. The successful execution of Olympic 2024 could catapult France into the global limelight. Transforming it into a premier tourist destination from the year 2025 onwards.

The magnetic allure of the Olympic Games is poised to draw a staggering 15 million spectators to Paris. While a substantial portion of these attendees will be residents and domestic day-trippers. An additional three million international visitors are expected to grace the city with their presence in 2024. This momentous occasion marks the first time in 12 years that the Olympics will be held in Europe. Making it highly probable that neighbouring European nations will contribute significantly to the surge in tourist footfall. In terms of the economic boon for Paris's tourism sector, industry insiders' estimates fluctuate. Spanning from EUR 2 billion to EUR 4 billion.

The Economic Impact of the Paris Olympic Games 2024

Historical data gleaned from past Olympic Games unequivocally illustrates that Olympic visitors are predisposed. To spend more during their visits compared to regular tourists. Given the immense influx of tourists expected to descend upon the city for this 17-day extravaganza. Lodging providers are primed to be the primary beneficiaries of this financial windfall. Short-term rentals are set to play a pivotal role. As they offer greater elasticity in terms of capacity when compared to traditional hotels. As of April 2023, it has been reported that approximately 1,000 hosts in Paris have already commenced. Accepting bookings on Airbnb for the weeks coinciding with the Olympic 2024 Games.

This figure is expected to witness exponential growth as the event draws nearer. Hosts capitalizing on the surge in demand by tripling their prices during the Olympic weeks. In addition to lodging providers, transportation services and consumer food service establishments are also poised to thrive. Catering to the diverse needs of both day-trippers and overnight vi