Paris 2024 must adapt to inflation and price increases

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Rising prices, and in particular energy and building materials, are becoming parasitic on budget forecasts for the 2024 Olympic Games in Paris two years from the event.

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Since the outbreak of war in Ukraine, the topic began to emerge behind the scenes of the Paris 2024 organizing committee, and this is the first time its president has sounded the alarm publicly and solemnly.

Late last week, Tony Estanguet mentioned in a video message to the International Olympic Committee (IOC) the new risk weighing in the budget, mentions the large breaks in the production and supply chain and the inflationary context impossible to imagine a few months ago.

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It may be necessary to check the service levels, to make certain devices easier. If not retreat from ambitionassured Tony Estanguet, three -time Olympic champion in canoeing.

The bearded man answers questions behind numerous microphones and posters displaying the emblem of the Paris Games.

The year 2022 is an important year in terms of the budget, as the organizing committee must review costs and revenues.

He will need to assess, for example, how much the opening ceremony has not yet taken place on the Seine, decide what can be done outside, and consider this new price increase, the increase in the cost of energy, freight, raw materials, and service markets.

An expenditure review (audit) committee must submit a report in the summer. Then, you will have to check, pay, look for savings.

The budget of the Paris 2024 OCOG, whose mission is to organize Olympic competitions, is 4 billion euros, or 5.4 billion Canadian dollars. An amount that comes from box office receipts, sponsors and contributions from the IOC.

A new configuration

The organizing committee has already carried out a revision to the budget by the end of 2020, generating 300 million euros in savings (CA $ 406 million).

This time, he deleted the temporary sites on the map and changed the map of the competition venues.

Also on the part of the site, it is very difficult to escape the international context. Rising prices of materials will generate additional costs that have not yet been measured. As required by Olympic law, a report from the Court of Auditors will be presented to Parliament at the end of the year.

Appointed on May 20 to head of a Ministry of Sports and of the Olympic and Paralympic Games, Amélie Oudéa-Castera will also monitor the development of the situation closely.

This is one of the prioritieshe explained to the press on the sideline of his appointment.

I will take the time to take a good look at everything. including all artists to deliver efficient, economical, responsible and well -controlled Gameshe clarified.

Source: Radio-Canada

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