Paris 2024 Olympics: according to INSEE, the Olympic Games would bring 0.3 points of growth to France's GDP in the third quarter

Le PIB devrait être positivement impacté par les JO. MAXPPP – Vincent Isore

L’accueil des Jeux Olympiques et Paralympiques par la France devrait apporter 0,3 point de croissance supplémentaire entre juillet et septembre, la croissance totale du PIB français devant atteindre 0,5 % au 3e trimestre, a estimé l’Insee mardi 9 juillet.

"The impact of ticketing revenue and rebroadcast rights would be around + 0.25 point of GDP& ;quot;, while "the ripple effects, particularly on tourism (accommodation, catering and transport), as well as bonuses for civil servants present throughout the Games", with more “uncertain"economic effects", could generate an additional quarterly growth of 0.05 point, indicates the National Institute of Statistics and Economic Studies in its latest economic report.

Then, "activity would slow down as a result at the end of the year", adds the institute, which anticipates a contraction of 0.1&nbsp ;% of gross domestic product (GDP) in the 4th quarter. The impact of the Olympic Games (July 26-August 11) and Paralympic Games (August 28-September 8) on the economy would thus be comparable to that of the Olympic Games. London, which boosted the British economy by 0.2 to 0.4 points of GDP in the third quarter of 2012, marked by total growth of 1%.

Comparison is not right with other Games

"Comparisons with the editions organized by Rio de Janeiro in 2016 and Tokyo in 2021 (during the Covid pandemic) have pappear less relevant", writes INSEE, which therefore does not communicate any figures on their macroeconomic impact.

For the 2024 Olympics, most of the boost to growth is linked to ticket sales (+0.15 points of GDP, or 1.2% ;nbsp;billion euros in revenue for the organizing committee) and broadcasting rights (+ 0.1 point of GDP, or 750 million in revenue), that the ;rsquo;Insee has chosen to account in the third quarter.

One-time support

Even if the sale of tickets for the Games began in 2023, it is indeed measured "by the time it is consumed by the public", that is to say during the tests, explains INSEE. The same logic applies to accounting for additional growth linked to the sale of broadcasting rights.

The support provided by the JO 2024 to French growth will only be very occasional and will not be repeated in the fourth quarter, estimates the & rsquo;statistical body, which anticipates growth of 1.1% in France for the whole of 2024.

At the beginning of April, the French Observatory of Economic Conditions (OFCE) had anticipated a "slight peak of growth" linked to the Olympics in the 3rd quarter, for which it expected total growth of 0.3%.