Paris Olympics costs reach €6.6bln, audit report finds
2 Min Read
The spending covered security, infrastructure, and organization, with officials stressing there was no budget overspending.
-
Tom Cruise rides a motorbike with the Olympic flag attached past athletes during the 2024 Summer Olympics closing ceremony at the Stade de France, Sunday, August 11, 2024, in Saint-Denis, France (AP)
The Paris 2024 Summer Olympics and Paralympics cost the French government €6.6 billion, according to figures released by the national audit body on September 29.
The latest figure is higher than the €5.9 billion estimate in June, though officials insist it does not represent “budgetary overspending".
Of the total, €3.02 billion was spent on organizing the Games, including €1.44 billion dedicated to security. Another €3.63 billion covered Olympic infrastructure projects, from construction to improvements designed to make the Seine suitable for swimming events, such as open-water competitions and the triathlon.
By comparison, in 2023, government documents had projected €2.44 billion in public investment.
Read more: Vatican says saddened by Paris Olympics opening ceremony
Securit, infrastructure among largest expenditures
The audit report noted that while most infrastructure costs were “generally well controlled,” budgeting for security was “particularly erratic". Security represented one of the largest increases in French government spending linked to the Paris Olympics.
Pierre Moscovici, head of the audit body and a former French finance minister, emphasized that while the Games required “significant public spending,” the final balance showed “no budgetary overspending” and that costs had been “contained".
He also highlighted the “undeniable success” of the Paris 2024 Games.
Comparison with earlier estimates of Olympic costs
Moscovici had previously estimated in 2023 that the Games would cost “three, maybe four, five billion euros.” The final €6.6 billion figure confirms that expenses were higher, though the audit stressed they remained within expected ranges given the scope of the event.
Separately, the local organizing committee (COJO) reported €4.4 billion in spending, funded primarily by private contributions and Solideo, the body responsible for construction projects. The committee ended with a €76 million surplus.
The audit also assessed the wider economic footprint of the Games. It concluded that the impact on the French economy has so far been “modest” and “relatively limited in the short term.”
