STORY: French economy benefits from "Olympic effect"
SHOOTING TIME: Recent footage
DATELINE: August 4, 2024
LENGTH: 0:01:47
LOCATION: Paris
CATEGORY: ECONOMY

SHOTLIST:
1. various of Paris

STORYLINE:

The Paris 2024 Olympics are expected to boost France's GDP in the third quarter (Q3) by 0.3 percentage points, raising the growth rate during the period up to 0.5 percent, according to France's National Institute of Statistics and Economic Studies (INSEE).

Ticket sales and revenues from audiovisual broadcasting have a direct positive effect on French economic activities in Q3, contributing 0.25 percentage points, it said, while tourists, an uncertain factor of the "Olympic effect," will also contribute to the GDP growth in the period.

French research organizations noted that the Paris Olympics are expected to boost the French economy in the short term, but long-term effects remain to be seen.

According to INSEE, the increase in tourist numbers will lead to a rise in the use of transport and boost the hotel and catering sector.

The Centre for Law and Economics of Sport (CDES) at the University of Limoges estimates that between 2018, when preparations for the Paris Olympics began, and 2034, a decade after the event, the economic impact of the Olympics for the Ile-de-France region will be between 6.7 and 11.1 billion euros (6.1 and 10.2 billion U.S. dollars), with a median of around 9 billion euros (about 8.26 billion dollars).

Of this amount, 70% would come from construction and event organization, with 30% from tourism.

With the Olympic events spread across several French cities, there are over 1,000 Games preparation centers throughout the country, serving as training and recovery bases for the 206 Olympic delegations.

The International Olympic Committee, meanwhile, predicts that the Paris Olympics will create a total of 181,000 jobs and train 30,000 people in professional skills.

Xinhua News Agency correspondents reporting from Paris.
(XHTV)