Can Paris Olympics’ Lower Costs Change Views on Hosting the Games?
The Paris Olympics is costing around $9 billion, which might seem high, but it’s actually much cheaper compared to recent Games. For comparison, the Tokyo 2021 Games cost about $13.7 billion, Rio 2016 was $23.6 billion, and London 2012 cost $16.8 billion. The 2022 Beijing Winter Olympics were even more expensive, reaching up to $35 billion.
Paris has managed to keep costs down by using existing venues instead of building new ones. Around 95% of the events will be held in these existing or temporary facilities. This approach contrasts with previous hosts who built new, often unused, venues.
The International Olympic Committee (IOC) has pushed for this more cost-effective model due to criticism over the high costs of hosting the Olympics. Paris was chosen after other cities, including Boston, dropped out due to local opposition.
The IOC also selected Los Angeles for the 2028 Games, which will follow Paris’s model and rely on existing venues. The budget for LA 2028 is $6.8 billion, but it’s common for Olympics to exceed initial estimates. Salt Lake City, awarded the 2034 Winter Games, also plans to use existing venues to keep costs around $4 billion.
Debate Over the New Model
While Paris has reduced the cost of the Olympics, questions remain about whether this new approach makes hosting the Games worthwhile. The IOC argues that their updated model makes the Olympics more affordable and beneficial by focusing on existing infrastructure and reducing negative impacts.
Paris might become the first host city in 40 years to make a modest profit. Some believe this new approach ends the era of massive debts and unused venues. However, critics argue that the Olympics still bring significant issues. They point out that even Paris went nearly a billion dollars over budget and that hosting can lead to social and economic problems.
Different Perspectives
- Positive View: Some see Paris as a step towards more manageable Olympics. The new model reduces costs and uses existing facilities, which could make hosting more feasible in the future. More cities might be encouraged to host the Games if costs are lower.
- Skeptical View: Critics argue that the new model doesn’t fully address the problems associated with hosting the Olympics. Issues such as displacement of residents and the large cost overruns persist. They believe a more dramatic change is needed for the Olympics to be truly worthwhile.
- Future Ideas: Suggestions include spreading events across different cities to further reduce costs. This could make hosting the Games more feasible for a broader range of locations.
Overall, while Paris’s approach might make hosting the Olympics more financially sensible, the debate continues about whether it solves the broader issues associated with the Games.