How French authorities are keeping the Paris 2024 Olympics costs down compared to Rio, London, and Tokyo
Paris 2024 Olympics are all set to begin in 24 hours. One of the highlights of this year's game is that the Paris 2024 Olympics has cost much less than the previous two editions held in London and Tokyo. The organizing committee has organized the game with an expense that has come under $10 billion - which is 25% over the initial estimation done by the committee.
The S&P Global Ratings have released a report on the same. According to the reports, there is a major decline in the budget for the Olympics in Paris as compared to Tokyo and London. The budget for the Tokyo Olympics and London Olympics went 350% and 280% higher than the initial budget respectively. However, the Paris 2024 Olympics are organized at a much lesser number.
The primary reason for the sudden decline in the budget goes to the venues in Paris. Paris venues are already built in such a way that they don't need any major transformation for the Paris 2024 Olympics.
According to the same report by S&P, the organizing committee for the Paris Olympics 2024 had to build just three venues: the $1.6 billion Olympic Village, the $190 million Aquatics Centre, and a $150 million gymnastics and badminton venue.
The cost incurred in building a sports venue is huge but Paris was already prepared for the big event. Half of the money was already saved by these venues. The organizing committee has invested the majority of the money in accommodations for the athletes coming from every corner of the world.
After the Paris 2024 Olympics, France will host the Winter Olympics 2030
The French capital has done a fabulous job hosting the Summer Olympics this year. The country has also won the bid to host the Winter Olympics 2030. The French Alps will be hosting the event in the year 2030. It was announced on Wednesday (July 24) that the country will host the Winter Olympics and Paralympics in 2030.
The focus to host the Winter Olympics will be on four zones: Haute Savoie, Savoie, Briançon, and Nice. A total of five Olympic villages have been proposed which are not more than 30 minutes from the stadiums. La Plagne's sliding track, the Courchevel ski jump, and Méribel's Roc de Fer downhill will be the three venues from Albertville 1992 that will be used during the event.
France will take the inspiration for the big event from the Paris Olympics 2024 and the committee is confident enough to organize a good show for the athletes.