The 2024 Olympic and Paralympic Games will take place from July 26 to August 11 in Paris and will be the largest event ever organized in France, according to the International Olympic Committee. With event organizers anticipating a $7.3B economic benefit to the region, UF faculty share expertise and context on how this global event affects the economy and tourism of an Olympics host city.
Amanda Phalin, Ph.D., is an instructional associate professor and economist in the Management Department at UF’s Warrington College of Business.
As Paris prepares and Los Angeles looks ahead, is it a good investment for cities to host the Olympics?
It may sound surprising, but no. Only one city has ever earned a profit from hosting the Olympics — Los Angeles in 1984 — so, while LA28 may turn out to be a good bet for our friends in California, the long-term return on investment for other cities is negligible to negative.
Hosting the games is massively expensive — from a bid…
