By Will Baxley on SwimSwam
The Paris 2024 Board of Directors announced the final budget for the 2024 Olympic Games, which resulted in a €26.8 million ($28.1 million USD) surplus.
Although it exceeded expenditure expectations, which the board attributes to inflation and increased security measures, it also exceeded revenue expectations. The committee cites the record 12.1 million tickets sold and hospitality as the primary reasons for surpassing revenue expectations.
Expenditures totaled €4.48 billion while revenue was €4.53 billion. The surplus will be paid back to sports organizations. This expenditure number is lower than the last couple of Summer Olympic cycles. One possible explanation is Paris’ utilization of existing infrastructure. The only new permanent venue constructed for the Games was the Olympic Aquatic Center which hosted diving, water polo, and artistic swimming.
The Tokyo 2020 Olympics reported a balanced budget, while the 2016 Olympics in Rio De Janeiro experienced a $2 billion deficit.
The full report from the Board Meeting, which highlights figures on sustainability, viewership, and economic impact, can be found here.
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