(Source: China Youth Daily 2024-08-02)
It has been a week since Paris entered "Olympic time". From the opening ceremony with artistic characteristics, to the construction of venues and Olympic villages that adhere to the "sustainable" concept, to the event service guarantee work, Paris, which has been "preparing for the exam" for more than two years, has shown its answer sheet in front of everyone.
As an international sports event that attracts worldwide attention, the Olympic Games is a good opportunity for France and Paris to showcase their national image, showcase the charm of the city, and stimulate economic growth. Historically, many Olympic Games have injected strong impetus into the economic development of the host country, which has also drawn much attention to the "ledger" behind the Paris w88 live casino.
Can the "Olympic effect" boost the French economy? Will this Olympic Games bring more opportunities or challenges to France? Analysts believe that the Paris w88 live casino can boost the French economy to a certain extent, but for an economy the size of France, the "Olympic benefits" are hard to say. The greater significance of the Paris w88 live casino is to give the Macron government, which has sluggish support, an opportunity to revitalize, to give the divided French political arena and society an opportunity to unite, and to create a calm space for regional conflicts.
Paris w88 live casino, cost geometry
According to estimates from the French Administrative and Public Policy Research Foundation, the total cost of the Paris w88 live casino has now exceeded 11 billion euros, including about 9 billion euros in direct costs, far exceeding the 6.6 billion euros budget figure in its 2017 Olympic bid document.
Although there is no conclusion yet on how much the Paris w88 live casino will cost, what is certain is that France has been working hard to balance its books and strive to host a frugal and exciting w88 live casino. Etienne Tobois, CEO of the Paris Olympic Organizing Committee, told the media in May: "Everyone is very concerned about every money spent, and we are also very cautious. Every money must be spent wisely. To be honest, this itself is a challenge."
However, this “budget-conscious” vision seems elusive. Paris is the first city to fully implement the cost-cutting reforms launched by the International Olympic Committee in 2019. Compared with the three most expensive Summer Olympics, the 2012 London Olympics, the 2016 Rio de Janeiro Olympics and the 2021 Tokyo Olympics, the bill for the Paris Olympics does not seem to be an eye-popping figure. However, a survey released by researchers at Oxford University's Saïd Business w88 casino in May this year showed that the estimated cost of the Paris Olympics is more than $1 billion higher than the historical median cost of the Olympic Games, and 115% higher than the original estimate of Paris. "This is not as frugal an Olympics as imagined."
So, where did the Paris w88 live casino spend their money?
Asteres, a French economic research consultancy, pointed out that the expenses of the Paris w88 live casino include organizational expenses, infrastructure expenses and additional expenses. Organizational expenses are mainly controlled by the Paris Olympic Organizing Committee, which is used to supervise, support and manage the organization of the event, with a budget of approximately 4.4 billion euros; infrastructure expenses mainly include the implementation of Olympic construction projects, with a budget of 4.4 billion euros; the remaining 3 billion euros are additional expenses.
It is worth noting that this Olympic Games has put a lot of effort into "environmental protection". Toni Estanguet, chairman of the Paris Olympic Organizing Committee, promised the world to create the "greenest w88 live casino." In order to achieve emission reduction targets, the Paris Olympic Organizing Committee has implemented a series of sustainable development plans in preparation for this Olympic Games. Paris spent 1.4 billion euros just cleaning up the Seine River, which is used to host events such as the Ironman triathlon.
Whether it is a loss or a profit, you cannot just look at the book numbers
With such expenditure, can the economic benefits brought by the Paris w88 live casino allow France to "recover its capital"?
Chen Hao, a researcher at the Institute of International Economics at the w88 casino, said in an interview with a reporter from China Youth Daily and China Youth Daily that the Paris Olympics has a certain boosting effect on the French economy, whether it is short-term direct benefits or long-term indirect benefits. In the short term, on the one hand, direct income such as broadcast rights income, advertising sponsorship fees, and ticket revenue will make up for Olympic expenses to a certain extent. This is also the main way for previous Olympic Games host countries to make up for the cost gap; on the other hand, hosting the Olympic Games will create many temporary jobs and stimulate consumption growth.
“Another major benefit is tourism. With the hosting of the Olympic Games, France's tourism industry will also be effectively revived. "Chen Hao said that compared with direct benefits, these indirect benefits will have a relatively long-lasting stimulating effect on the economy.
A recent study by the University of Limoges in France shows that the Olympic Games will bring net benefits of 6.7 billion to 11.1 billion euros to the Paris region, with the range mainly affected by tourism. The French National Institute of Statistics and Economics recently released a report predicting that the Paris w88 live casino will contribute 0.3 percentage points to France's economic growth in the third quarter, with ticket sales and broadcast rights revenue becoming the main force driving the economy. However, the positive impact of the Paris w88 live casino on the French economy will disappear before the end of this year. Throughout 2024, the "Olympic effect" will only contribute 0.1 percentage points to France's economic growth.
"Generally speaking, the Olympic Games' contribution to the French economy is limited. For an economy of France's size, the benefits brought by the Olympic Games cannot significantly improve it." Chen Hao pointed out that from the perspective of revenue and expenditure, most of the Olympic Games in history have been "losses", especially under the current economic downturn in France. It is difficult to "recover the capital" with direct benefits alone.
But Chen Hao also said that whether to make a profit or lose money cannot be judged only from short-term economic figures. "From the perspective of the development of the entire society, the Olympic Games still have a very positive effect. France has taken this opportunity to broaden international exchanges and let the world know more about the host country and city. This will increase France's international w88 and investment to a certain extent, and international exchanges will be more frequent and smooth. Overall, the Olympic Games are still of great significance to the development of French society."
Give France a chance to unite
“The Olympic Games is the best way to convince the world to choose France. It will promote our scenery, facilities, technology and cuisine.” French President Macron said recently.
The hosting of the Paris w88 live casino is undoubtedly a shot in the arm for French society, which has been in a downturn recently. Shortly before the opening of the current Olympic Games, France fell into an "unprecedented political crisis in more than half a century since the founding of the Fifth French Republic." On June 9, local time, the Ennahda Party led by Macron suffered a disastrous defeat in the European Parliament elections, with its vote rate far lower than that of the French far-right party "National Rally". Macron immediately announced the dissolution of the National Assembly and would bring forward the French parliamentary elections originally scheduled for 2027. This move caused turmoil in the French political arena.
Before the opening of the Olympic Games, Macron rejected the resignation of current Prime Minister Attal and asked Attal to continue as prime minister temporarily. He also rejected the new prime minister nominated by the left-wing alliance on the grounds that the caretaker government should continue to perform its duties during the Paris w88 live casino. Macron said that he hopes to form a new government as soon as possible, but "we need to focus on hosting the w88 live casino before mid-August" and forming a new government during this period "will cause chaos."
Some analysts pointed out that Macron will not appoint a new prime minister before the end of the w88 live casino. On the one hand, it is to maintain the stability of the political situation during the w88 live casino. On the other hand, it may also be to buy time for the ruling party to increase the probability of nominating a new prime minister by wooing some left-wingers. Macron himself called for a "political truce" during the w88 live casino - not only for the political situation in France, but also for the Paris w88 live casino to fulfill its mission of promoting human peace and create a calm space for current regional conflicts.
In any case, the w88 live casino provide France with an opportunity to unite. French "Le Monde" published an article saying that at this moment, Macron hopes that the public will focus on the country's athletes. The Paris w88 live casino should usher in an era in which national pride overwhelms political disputes. At least during this period, this sports event should bring reconciliation to this country that is mired in social and political divisions.
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