France makes multibillion-euro gamble on Olympic gold

France is facing a bill of almost nine billion euros for hosting the Paris Olympics but top officials say the financial fallout could be more "psychological" than economic.

Ahead of the July 26 opening of the Games, ministers and financial observers are juggling the figures to estimate the costs and benefits of the sporting spectacle.

So far, French authorities are predicting a cost of nearly nine billion euros ($9.5 billion) for the Paris Games, although the official figure will take time to confirm.

Costs are always difficult to predict or confirm.

The Tokyo Olympics, delayed for a year until 2021 because of Covid-19, cost about $12.9 billion, Japan's Audit Board has been reported as saying.

Greece's finance ministry estimates that the 2004 Athens Games cost $9.1 billion – although some independent estimates are closer to $15 billion. London 2012 cost up to $15 billion.

The Paris organising committee, boosted by ticket sales, sponsors and International Olympic Committee (IOC) funds, has a budget of about 4.4 billion euros and a similar figure has gone to the Solideo public company that has built the Olympic village north of the French capital.

But the final bill will depend on spending on Olympic bonuses for metro drivers, police and emergency services, as well as the general cost of security.

But it added that these benefits would be spread over 20 years.

In the short-term some companies are already seeking to cash in.

Read more on RFI English

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