France spent billions to organize this year's Paris Olympics and Paralympics hoping the Games will bring an economic boost. Will the investment pay off?
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00:00Everything is about the Olympic Games here, the world's biggest sporting event.
00:05Host country France is hoping for an economic boost worth billions.
00:10The government has invested in revamping infrastructure and building facilities.
00:14Depending on the scenario, the economic benefits for the region around Paris
00:19could range between 7 and 11 billion euros, according to the organizers of the Games.
00:24But that sum would be spread over 17 years, making it a modest gain.
00:29Preparations have already cost a lot.
00:32The budget for the Olympics and the Paralympics is estimated around 9 billion euros.
00:38Around half of that was for the organization of the Games and infrastructure.
00:43It's 15% more than the initial cost estimate, but still lower than the spending for the previous Games.
00:49Was it worth it economically?
00:52What is clear is that millions are visiting Paris just for the Olympics,
00:55and it's travelers who are ready to spend more than the regular tourist.
01:00And that requires services.
01:03More than 180,000 additional jobs have been created, according to organizers.
01:09Most of them are in food services, tourism and industries involved in staging the Games.
01:14Despite these challenges, the 2024 Olympic organizers and the host city
01:19are hoping that this year Paris will take home the economic gold medal.