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Home Economy

Rise in spending lingers in Paris after Olympic Games

News Watch Cameroon by News Watch Cameroon
November 14, 2024
in Economy
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Rise in spending lingers in Paris after Olympic Games

Visitors queue to take souvenir photos at Paris Olympics symbol

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By Joyce Diana Ngwang*

Sarah, a British traveler had been to Paris three times. That was before the French capital hosted the 2024 Summer Olympic Games. She says she was shocked by the high rate of inflation in the town when she visited after the international multi-sport event the city hosted from July 26 to August 11, 2024.

“I’m shocked by how much everything costs”, Sarah told this reporter in Paris. She explained that a standard hotel room that used to cost €100 per night has risen to over €180 to €200.

“Even my favorite local bistrot in Le Marais has bumped up its menu prices—what used to be a €12 lunch special is now close to €18,” Sarah explained.

Tourists says restaurants like this Bistrot, which usually serve simple, hearty meals at moderate prices have also increased their prices.

Sarah’s experience is far from unique. Since the world turned its gaze to Paris for the Summer Olympics, the city’s hospitality industry has witnessed a surge in spending since athletes and spectators jetted into the city for the summer sporting event.

We learned average hotel room rates in Paris increased by approximately 30% during the games, with mid-range accommodations now ranging from €100 to €250 per night—compared to €80 to €150 before the games.

Dining has also taken a hit. A three-course meal at a mid-level restaurant has jumped from around €30-€35 to approximately €45-€50, marking a significant cost increase, according to visitors.

Paying more for same experience

Despite the high inflation brought about by the Summer Olympics, visitors confess the charm of Paris makes it worthwhile.

“I still love Paris, but I feel like I’m paying more for the same experience,” Sarah said.

Maya, another tourist from Germany shares same feeling.

“I like the people here. They’re friendly, they laugh easily, and they love children and dogs,” Maya said of Paris.

Valencia, visiting from Indonesia, found herself charmed by a city she had heard so much about. “It’s better than I expected,” she admits. “The weather is lovely, and the streets are cleaner than I imagined.”

Despite the rising costs, visitors are still obsessed with Paris’s charm. Marianna, visiting from Belarus, found herself wandering pathways she hadn’t explored before, discovering tiny bookstores and tucked-away patisseries, which she said were as enchanting as the landmarks themselves.

“It’s a different Paris, but it’s no less beautiful,” she said.

Visitors at the taking photos at Olympic symbol

Maya noted that accommodation was a bit steeper than her pre-pandemic visits, while Sah Terence, a journalist from Cameroon said he observed an increase of 15–20 euros per night. Yet, they all found ways to embrace the city’s beauty on a budget.

Lessons for Cameroonian cities

The economic impact of the Olympics in Paris offers valuable lessons for cities like Douala and Yaoundé, which may aspire to host large international events in the future, observers say.

“Paris’s experience demonstrates the need for post-event sustainability planning,” says Herve Nicole Minko, a Cameroonian sports enthusiast living in southwest-central French city of Limoges who attended the Games. “Investments should serve the community beyond the event itself, creating lasting value for residents.”

Paris’s approach underlines the importance of infrastructure that not only accommodates the surge in visitors but also enriches the lives of local residents in the long term. For Cameroon, ensuring that investments benefit the community, while balancing the economic boost from tourism, could be key to hosting successful future events.

Paris remains one of the world’s most enchanting cities, but for many, its charm now comes with a higher price tag. Some visitors feel the Olympic legacy has brought a new vibrancy to the city, while others worry about long-term cost implications. As the city continues to evolve, both locals and tourists will need to adapt to its changing economic landscape.

For cities like Douala or Yaoundé that may consider hosting international events, there’s a valuable lesson: while such events bring prestige and visibility, the challenge lies in balancing economic gains with affordable living for both residents and visitors.

*Joyce Diana Ngwang is a journalist at Vision 4 TV in Yaounde and a Guest Writer for NewsWatch. She recently returned from a training program in France focused on media and democracies.

Tags: Paris Olympic Games

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