Low hotel occupancy to Airlines reporting major loss: Paris Olympics turning into a financial mess for France
5 months ago

Low hotel occupancy to Airlines reporting major loss: Paris Olympics turning into a financial mess for France

Hindustan Times  

Paris Olympics is around the corner, and the fans are eagerly waiting for the sporting extravaganza to kickstart, but it's not turning out as expected for the host country France. Hosting an event like the Olympics often works well in any country's favour in terms of boosting tourism, which directly benefits their financial conditions; still, it is not going the same way for France - a country with a rich sporting culture - especially football, with its team being two-time World Champions. According to a report in the Telegraph, Paris 2024 is turning into a financial mess for France as the country has not seen any significant change in tourism interests. If things go the same way, France is eyeing a financial mess despite hosting one of the biggest sporting events globally.

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History of this topic

Paris Olympics 2024: France turned the Games into a citywide party for everyone.
4 months, 1 week ago

Paris Olympics 2024: France turned the Games into a citywide party for everyone.

Slate  

This is part of Slate’s 2024 Olympics coverage. I even loved the golf, which surprised me by being the Olympics’ most egalitarian spectator experience, all ticket holders equal in our dignified scrambling up the grassy hillocks around the course. “Paris Superstar,” read the cover of Saturday’s Libération, the left-wing daily that can usually be counted on for Olympic cynicism. Even …

Will the Paris Olympics Break the Economic Curse of Host Cities?
4 months, 2 weeks ago

Will the Paris Olympics Break the Economic Curse of Host Cities?

Slate  

This is part of Slate’s 2024 Olympics coverage. CEO Jean-François Bandet expressed the complicated feelings many Parisian merchants have in a short essay on LinkedIn the other day: “Business side, the results are clear: We’re approaching the halfway point of the Games, and BO&MIE’s receipts are down 15 to 30 percent year over year… but… how can you not be …

More Olympics travel woes as thousands stuck after storms cancel high-speed trains from Paris
4 months, 3 weeks ago

More Olympics travel woes as thousands stuck after storms cancel high-speed trains from Paris

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A local storm Wednesday interrupted all high-speed train traffic connecting Paris to the southeast of the …

Catalyst to the growth of tourism and other sectors of France
4 months, 3 weeks ago

Catalyst to the growth of tourism and other sectors of France

China Daily  

The Olympic rings are pictured on the Eiffel Tower ahead the Paris 2024 Olympic and Paralympic Games in Paris, France, July 19, 2024. The Paris 2024 Olympic Games have become a major drive for tourists heading to Europe, creating a ripple effect across various sectors, particularly tourism, which could boost the economic growth of France, and even Europe. To begin …

They expected an Olympic boon. But some Paris businesses are experiencing a bust
4 months, 4 weeks ago

They expected an Olympic boon. But some Paris businesses are experiencing a bust

Associated Press  

PARIS — On a typical summer day, tourists flock to the historic Marais district of Paris, wandering its charming medieval streets dotted with ultra-chic boutiques, gazing at stunning private mansions, strolling through the elegant 17th-century square Place des Vosges, and filling humming restaurants and bars. “It’s the same for everyone around here.” Carroll attributes the light crowds to multiple factors, …

Paris 2024: Travel chaos hits Olympic opening ceremony as hotel rates and air fares tumble
4 months, 4 weeks ago

Paris 2024: Travel chaos hits Olympic opening ceremony as hotel rates and air fares tumble

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. On the ground, the UK Foreign Office is warning: “Until Friday 26 July, you will need a digital pass to …

Olympics 2024: Paris transport shuts down ahead of opening ceremony
4 months, 4 weeks ago

Olympics 2024: Paris transport shuts down ahead of opening ceremony

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy One day before the opening ceremony of the Paris 2024 Olympics, transportation in much of the …

Paris 2024 Olympics: Hotels slash prices as tourist numbers fall short
5 months, 1 week ago

Paris 2024 Olympics: Hotels slash prices as tourist numbers fall short

Hindustan Times  

When the Olympic Games kick off on July 26, expect to see mostly French spectators in the stands. Paris 2024 Olympics: Hotels slash prices as tourist numbers fall short According to data from Paris je t’aime, the city’s tourism board, the capital is expecting 11.3 million visitors during the Olympics weeks—of which only 1.5 million will be international. “Cities with …

Paris is aiming for the most sustainable Olympics yet. Organizers acknowledge the plan isn’t perfect
6 months, 3 weeks ago

Paris is aiming for the most sustainable Olympics yet. Organizers acknowledge the plan isn’t perfect

Associated Press  

PARIS — Of all the decisions Paris Olympics organizers made about where to hold each sport, sending surfing competitions to the other side of the world — in the Pacific waters of Tahiti — provoked the strongest reactions. Tahiti’s selection provides a window into Games organizers’ approach to hitting their goal of reducing emissions, the driver of climate change. Rose …

Watch: How is Paris preparing for the 2024 Summer Olympics?
10 months, 4 weeks ago

Watch: How is Paris preparing for the 2024 Summer Olympics?

The Hindu  

With just six months to go until the start of the Paris Olympics, the clock is ticking for the organising committee. Political bickering, ongoing grumbling about ticket prices and disruption to everyday life are souring the mood in the build-up to the Paris Olympics this July -- something organisers blame on typical French pessimism. Many Parisians were dismayed in December …

France will carry out 10,000 checks at restaurants, hotels before Paris Games to avoid price hikes
1 year ago

France will carry out 10,000 checks at restaurants, hotels before Paris Games to avoid price hikes

Associated Press  

PARIS — French authorities will carry out checks at 10,000 hotels and restaurants across France ahead of the Paris Olympics next year in order to limit expected massive price hikes during the Games. Tourism minister Olivia Gregoire said Wednesday that all 1,600 hotels located in the French capital city will be inspected by the French fraud control agency by the …

Opinion: Will the Olympic Games be as costly for L.A. as they are for Paris?
1 year, 4 months ago

Opinion: Will the Olympic Games be as costly for L.A. as they are for Paris?

LA Times  

A mural depicting a version of the L.A. 2028 Summer Games logo at the Delano Recreation Center in Van Nuys in 2020. Back in 2017, when the International Olympic Committee simultaneously handed the 2024 and 2028 Summer Games to France and the U.S., IOC President Thomas Bach vowed that the scheme would be “a ‘win-win-win’ situation for the city of …

Paris 2024 Olympics HQ searched in third consecutive Summer Games scandal
1 year, 6 months ago

Paris 2024 Olympics HQ searched in third consecutive Summer Games scandal

Associated Press  

PARIS — French police searched the Paris Olympic organizers’ headquarters on Tuesday as part of corruption investigations into contracts linked to the Games, according to prosecutors, the third straight time graft allegations have dogged a Summer Olympics. The prosecutor’s office said that case targets suspected conflict of interest and favoritism involving several contracts reached by the organizing committee and Solideo, …

'So expensive' - Paris Olympics ticket prices mar image of Games for all
1 year, 7 months ago

'So expensive' - Paris Olympics ticket prices mar image of Games for all

Deccan Chronicle  

PARIS: Athletes have joined the clamour of criticism at the high cost of tickets for the 2024 Paris Olympics, decried as undermining organisers' promises of a Games accessible to all. Phase two of sales got underway on May 11, with nearly 1.5 million individual tickets available, after over three million were sold as multi-event packs during phase one. But just …

Air France-KLM sees robust bookings after better-than-expected Q4
1 year, 10 months ago

Air France-KLM sees robust bookings after better-than-expected Q4

Live Mint  

Air France-KLM said on Friday its 2023 bookings were almost back to pre-pandemic levels as it reported a better-than-expected fourth-quarter operating profit with global travel demand seeing a rebound. Last year was a difficult one with the travel industry struggling with pandemic-related restrictions and as prices of jet fuel and other key products soared due to the Russia-Ukraine conflict, Chief …

Paris 2024 organizers say budget likely to increase due to high inflation
2 years, 1 month ago

Paris 2024 organizers say budget likely to increase due to high inflation

The Hindu  

The operating budget for the 2024 Paris Olympics is expected to go up by 10%, in part because of high inflation, organizers said Tuesday. The organizing committee, known as COJO, had an original operating budget of around 4 billion euros but will present a revised figure at a board meeting next month that is expected to reach 4.4 billion euros. …

Paris 2024 organizers say budget likely to increase
2 years, 1 month ago

Paris 2024 organizers say budget likely to increase

Associated Press  

PARIS — The operating budget for the 2024 Paris Olympics is expected to go up by 10%, in part because of high inflation, organizers said Tuesday. The organizing committee, known as COJO, had an original operating budget of around 4 billion euros but will present a revised figure at a board meeting next month that is expected to reach 4.4 …

Air France-KLM reports huge Q2 loss, sees signs of recovery
3 years, 4 months ago

Air France-KLM reports huge Q2 loss, sees signs of recovery

Associated Press  

THE HAGUE, Netherlands — French-Dutch airline group Air France-KLM said Friday that the “first signs of recovery are visible” in bookings amid easing pandemic travel restrictions as it reported a second-quarter net loss of nearly 1.5 billion euros. Air France-KLM’s fleet of planes carried just over 7 million passengers in the year’s second quarter, a rise of 477% compared to …

Air France-KLM reports €1.5 billion loss in second quarter
3 years, 4 months ago

Air France-KLM reports €1.5 billion loss in second quarter

NL Times  

Air France-KLM suffered a loss of 1.5 billion euros in the second quarter of 2021, about the same as in the first quarter. In 2020, Air France-KLM suffered a loss of over 7 billion euros. The Dutch cabinet gave KLM 3.4 billion euros, in the form of loans and guarantees. International trade association IATA recently said that the demand for …

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